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A spike in corporate events in Edinburgh over the past month has helped fuel a 52.2 per cent year-on-year rise in profit per room across the capital’s hotels.
According to data from hotel data organisation Hotstats, events such as the 1,200-strong Microbiology Society Annual Conference helped drive a 6.6 per cent increase in occupancy, to 89.2 per cent.
The strong growth in volume in May, in addition to a 21.6 per cent increase in average room rate, to £112.70, contributed to the 31.3 per cent increase in RevPAR (Revenue per Available Room). At £98.64 in the 12 months to April 2017, RevPAR at hotels in Edinburgh is currently second only to London.
In addition to the 21.5 per cent increase in TrevPAR (Total Revenue per Available Room), cost savings contributed to the £18.03 profit per room increase, supporting a staggering 30.4 per cent year-on-year profit increase for year-to-date 2017, to £30.92.
The data also showed profits fell at hotels in Birmingham, with year-on-year profit levels dropping 24 per cent to £31.73 per available room.
In addition to a 14.3 per cent decline in RevPAR this month, hotels in Birmingham suffered a year-on-year drop in Non-Rooms Revenues, which contributed to the 14.6 per cent decline in TrevPAR, to £85.68.
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