Manchester hotels buck trend of profit decline across the UK in chain hotels
Hotels in Manchester outperformed their counterparts across the rest of the UK in March with regards profit per roo, according to the HotStats UK Chain Hotels Market Review.
The 3.3% increase in profit per room during March contributed to a 2.4% increases for the first quarter of the year, up to £35.78 from £34.94 during the same period in 2015.
This was in contrast to hotels across the rest of the country, which suffered a 4.6% decline in profit in March, contributing to a 2.6% year-on-year drop in profit per room for the first quarter of 2016.
While room occupancy declined across the whole country, including Manchester, a 7.4% increase in average room rate in the city far exceeded the 1.6% increase across the rest of the UK which fuelled an overall increase in revenue per available room of 3.5%.
The HotStats report, which collates data from hotel chains operating in the full-service sector, said: "Hotel performance in Manchester has gone from strength to strength in recent years. Despite additions to stock in 2015 including the 208-bedroom INNSIDE by Melia and 330-bedroom Motel One Piccadilly profit per room has increased by 9.3% over the last year, to £43.51 in the 12 months to March 2016, from £39.82 in the 12 months to March 2015."
Hotel supply outpaces demand in London hotels >>
London hotel occupancy and room rates fall in February >>
Overseas interest in regional hotel market to increase in 2016 >>
Latest video from The Caterer
