Search
The Caterer

Hilton remains wary despite doubled profit

27 May 2004
Hilton remains wary despite doubled profit

Hotel and betting company Hilton Group is only cautiously optimistic about its hotels business despite recording a 106% increase in group profit in the four months to 30 April.

Chief executive David Michels said that although the profit growth was encouraging, it had to be put in context.

Hotels last year were reeling from the effects of the Sars outbreak and the war in Iraq, he said, so the group "had to improve or there would be something wrong".

All of Hilton's hotel markets, apart from its Scandic brand, recorded increases in revenue per available room (revpar) during the period. The Middle East led the way with a 28.5% hike.

In the UK, London recorded a 17% increase in revpar. Outside the capital, revpar was up by 3%.

Michels said the group remained "positively uncertain" of the future for its hotels division, but added that more than half of the world was now recording increases in hotel occupancy, a trend which he hoped would continue.

The Caterer Breakfast Briefing Email

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

Sign Up and manage your preferences below

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.