The Caterer
Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Firmdale records rooms rate that's double London's average

12 July 2011 by

Boutique hotel operator Firmdale Holdings achieved an average room rate of £300 last year - more than double the figure for other London hotels.

The company's annual accounts, due to be filed later this month, will show that Firmdale's turnover increased by 28.5% in the year to 31 January 2011, to £69.4m. Net gain was £20.8m, up from an £8.2m loss the previous year.

Trading at all six Firmdale's properties in London, which include the Haymarket, Soho, Covent Garden, Charlotte Street, Knightsbridge and Number Sixteen hotels, improved during 2010, with the average room rate rising 6% to £300 and average occupancy increasing 3.1% to 89%.

In 2010, London's average room rate was £123.32 and occupancy was 82.1%, according to TRI Hospitality Consulting.

Malcolm Soden, Firmdale's finance director, said: "Firmdale figures have continued to impress and this is maintained through a number of factors which we take very seriously, including maintaining guest loyalty - we have a very a high percentage of repeat business, broadly 50% plus - the level of personal service offered in each hotel, and overall attention to detail in creating a first-class product."

As well as its six London hotels, Firmdale also owns and operates the Crosby Street hotel in New York.

Future plans include the reopening at the end of the year of the Dorset Square hotel, the first hotel in the group which Firmdale has recently bought back after falling into administration. The company is also developing a new flagship 90-bedroom hotel with 120-seat cinema at Ham Yard in Soho, due to open in 2013, and a second hotel in New York.

Caterer and Hotelkeeper 100 - Tim and Kit Kemp of Firmdale >>

Firmdale holds strong during recession >>

Firmdale buys back Dorset Square >>

By Janet Harmer

E-mail your comments to Janet Harmer here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk

Caterersearch.com jobs

Looking for a new job? Find your next job here with Caterersearch.com jobs

[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
TagsTrends and Hotels
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking