November 24, 2000 -- HVS International -- Macdonald Hotels, the Scottish-based hotel group has reported impressive interim results, with turnover up 18% to £34.3 million and pre-tax profits rising by 15% to £7 million.
RevPAR for the 26 hotels that Macdonald owns rose 7% to £37.85. Meanwhile, RevPAR of £39.76 was achieved for the entire 80-strong portfolio.
The healthy performance was partly attributed to its acquisitions, such as the Hand Picked hotels acquired from Nomura's Guy Hands; and to the various profit streams, such as its timeshare and resort business where profits were up 33% to £1 million.
The results brought a welcome boost to the share price, which rose 6.9% on Wednesday to 152.5 pence.
Donald Macdonald, the group's Chief Exeucitve, remains upbeat about the share price despite the stock being undervalued, believing that shareholders in time will be rewarded for investing in a listed hotel company.
Meanwhile, Macdonald Hotels has put in motion exciting expansion plans to build ten city-centre hotels in the UK. These plans will be aided by a £100 million joint venture led by Royal Bank Development Capital and backed by the Bank of Scotland. A site has been secured in Sheffield, the city that is currently engaged in a £120 million regeneration scheme. Cities such as Bristol, Leeds, Glasgow, Birmingham and Manchester are also being targeted.
HVS in 2000: Celebrating 20 Years of Valued Hospitality Consulting Service
This release is courtesy of HVS International, a global full-service hospitality consulting company. HVS International's numerous services including market studies & valuations, development consulting, litigation support, asset management,and more. Investment advisory services are available in the UK, Africa, Europe and the Middle East.
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