LONDON— During the companys annual general meeting last month, Macdonald Hotels Chairman Frank OCallaghan, revealed that the company’s strong profit growth in its last financial year, ending October 2001, has continued into the first four months of the new year. RevPAR at the companys wholly owned hotels was up 5% in the four-month period and its portfolio of 48 Heritage hotels, which has now been successfully integrated, is trading ahead of Macdonalds expectations. The good news was tempered by the revelation that eight key hotels in the vicinity of the M25 London orbital motorway were still suffering in the current economic climate, thereby forcing down RevPAR across the Heritage portfolio by 4% in the first four months. SOURCE: HVS International
