Thistle’s London Hotels Not Performing As Hoped

LONDON— Thistle Hotels Plc Chairman David Newbigging noted in the first 20 weeks of the current financial year, turnover at its 18 owned and leased hotels fell by 14% to £53.9m (US$78.7 million), when compared with the same period last year. Newbigging revealed this news at the company’s recently held annual general meeting. RevPAR at the hotels fell by 14.4% to £52.46 (US$76.59), as occupancy dipped by 2% to 70.3% and room rate fell by 12%. Newbigging said the declines were due to reduced numbers of international travelers coming to London, where the majority of Thistles owned and leased hotels are located. Meanwhile, Thistle’s managed hotels had performed better than its owned and leased hotels since they were mainly in the provinces and more of its clients were from the U.K. Turnover at the group’s 38 managed hotels fell by 3.2% to £50.6 million (US$73.9 million) during the period, with RevPAR falling by 4.8% to £37.42 (US$54.63). SOURCE: caterer.com