Hotel real estate group PPHE is inching back to pre-Covid performance with a rise in revenue.
The group, which is currently working on its new art’otel in Hoxton, said that total revenue for the quarter had risen to £75.7m, a 142% improvement on the same quarter last year. However, that is still a fair way behind the £121m brought in for the three months to 30 September 2019.
Occupancy has also risen to 54.3% from last year’s 29.8%, but is again far short of 2019’s 86.7%.
Vitally, RevPAR is also up, by 119% on last year to £63, but that is still well short of the £116 reported in 2019.
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