Dublin's hoteliers recorded a 12.0% increase in profits per room in June, according to the latest HotStats survey bringing the calendar year-to-date GOP per available room increase to 25.7% and the rolling 12 months growth figure to 31.0%.
In the first half of this year, this profit boost in the Irish capital was due, in part, to an increase in RevPar of 11.3% to €116.44 which was mainly rate driven (+7.6%). Drilling deeper into the numbers reveals that a 2.7% rise in the residential conference segment contributed to growth in meeting room hire revenues and in food and beverage income; leisure departmental revenue also posted growth. Even though rooms direct expenses per room let (+3.9%), in particular travel agents commission (+6%), TrevPar gains were successfully converted to profit growth thanks to payroll efficiencies.
