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Informations & Press Releases may be send to info@freesun.be
edited by FREESUN - avenue Charles Plisnier 20 - 1070 Brussels, Belgium
Tel.: 32+ 2 521 32 14 - Fax : 32+ 2 521 72 43
email : info@freesun.be
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Informations & Press Releases may be send to info@freesun.be
edited by FREESUN - avenue Charles Plisnier 20 - 1070 Brussels, Belgium
Tel.: 32+ 2 521 32 14 - Fax : 32+ 2 521 72 43
email : info@freesun.be
Four Seasons' 2005 operating performance looks good, but overall revenues down
Another luxury tier group currently enjoying the surge in luxury travel is Four Seasons. Full-year 2005 figures released today show US$248 million revenues, down 5% on 2004. However, the overall result masks a big difference between the performance of owned properties (down over 2004) and managed hotels (a good increase).
Average occupancy worldwide increased by 2.9 percentage points to 69%; average daily room rate (ADR) rose 6.3% to US$349 and revenue per available room was up a staggering 11.4% to US$226.
The healthy performance is translating into improved management fees and more new projects in the pipeline - the latest 'letters of intent' to be announced are for hotels in Barbados, Taipei, Macau and Shanghai (in Pudong - Four Seasons' already has a property in Shanghai's Puxi). Four Seasons has 68 hotels operating in 31 countries, with 20 more in development.
