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UK: Firmdale Holdings announces record revenue of £74.4 million for its financial year.
The company which owns and/or operates seven hotels in London and one in New York, saw the average room rate at its London properties increase by four per cent to £312 during the year to January 31 2012, with an occupancy rate of 89 per cent. Underlying operating profit rose to £14.3 million.
This compares with figures for London as a whole, from TRI Consulting, of a room rate of £131.44 and occupancy of £81.7 per cent.
Firmdale finance director Malcolm Soden said: “It has been a strong top end of the market that has resulted in high rates and occupancy levels. We have been selling from the top down.”
www.firmdalehotels.com
