Record revenues for Firmdale

UK: Firmdale Holdings has reported a 5.4 per cent increase in revenue to a record £78.4 million for the year to 31 January.

Operating profits increased to £13.4 million on revenues of £60 million.

Firmdale finance director Malcolm Soden said: “Across the London division our like for like average room rate increased three per cent to £322, as each of the six properties improved upon their own individual record. Over the past five years the average room rate has increased by some 21 per cent.”

The company reported a slight drop in occupancy to 87 per cent, although over the past five years Firmdale’s average occupancy has increased two percentage points.

In April 2014 Firmdale will open Ham Yard, an £88 million mixed-use development which will include a 91-room hotel, 12 retail units, a four-lane bowling alley and 175-seat theatre.

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