| Thistle benefits from London
presence |
The impact of foot-and-mouth is expected to make itself felt in Thistle
Hotels interim results on Wednesday.
Pre-tax profits of £32 million are predicted for the company, up from
£28.2 million.
Thistle's performance is also expected to suffer from the US economic
slowdown.
But the company's £50 million upgrade programme and high room occupancy
levels are predicted to boost marginal revenues.
Thistle, the largest hotel group in London, saw its average room rate
in the capital top £80 for the first time this year.
Across the group, revenue per available room rose 6% to £53.45.
Richard Finch of Williams de Broe said: "In a consolidating market,
Thistle's London portfolio of 6,000 rooms is a substantial asset.
"Apart from the cluster opportunities for cost control and guest
referral, facilitated by new and prized yield management systems, the
strategic value of a well-invested 4-star estate in a trophy segment is
unmistakable, despite the current rise in room supply."
Story filed: 06:04 Saturday 1st September
2001 | 
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