The UK hotel market started the year with improving results, showing two consecutive months of growth. They posted year-on-year increase of all top indicators and managed to reach sufficient level of growth of gross operating profit per available room (GOPPAR) that reached in some regions of the country 48.3%.
Hotels in the UK started this year with very optimistic results. While the country in general reached two months of growth in 2014, in the East hoteliers managed to post really fantastic results GOPPAR added 48.3% in February 2014. This became possible thanks to the growth of occupancy of 5.7% coupled with the growth of average room rate (ARR) of 3.1%. Consequently, revenue per available room (RevPAR) added impressive 12.7% in February 2014 to £43.42. No room revenues also increased, making total revenue per available room (TRevPAR) add 11% to £76.31. That is the fourth consecutive month of growth for the metric. Moreover, departmental operating profit per available room (DOPPAR) added 16.6% in February 2014 (to £39.22). With the growth of all main metrics, profit conversion also grew from 14.9% to 20.0%.
Hotels in Edinburgh continue posting strong results. February 2014 was the 12th consecutive month of year-to-year growth of TRevPAR and GOPPAR. They added 10.5% and 22.6% respectively. This had become possible thanks to growth of occupancy to 66.8% and higher average room rate (+2.8% to £80.99). While the revenues got from hiring meeting rooms remained flat, hotels in Edinburgh managed to increase their revenues from food and beverage (+15.5% and +21%). That also helped to increase TRevPAR by 10.5% to £91.02 in total. Oxford hotels were also among regional leaders. With boosted occupancy and average room rate (+5.3% and +4.6% respectively), hotels in Oxford increased their TRevPAR by 12.3% and GOPPAR by 20.3%.