London (hospitalitybusinessnews.com) Hotels in the North West recorded a 12.2% increase in profit per room in January, led by a 9.2% increase in RevPAR, as the region enjoyed a great start to 2017 according to the latest data from HotStats.
Growth in both room occupancy (+4.1 percentage points) and achieved average room rate (+2.4%) contributed
to the ongoing increase in RevPAR (Revenue per Available Room), which has now grown by 20.5% over the last 36 months, to £61.58 in the 12 months to January 2017.
The year – on – year increase in achieved average room rate was driven by growth recorded in residential conference (+6.5%) and corporate (+5.3%) segment rates, as strong midweek demand levels have allowed commercial rates to be leveraged in the key North West cities of Manchester and Liverpool.
The strong performance at hotels in the North West contributed to the 6.2% RevPAR increase at hotels in the Provincial UK in January, as well as the 6.5% GOPPAR (Gross Operating Profit per Available Room) increase to £15.06 per available room during the same period.