London-based boutique hotel chain, Firmdale Holdings has seen annual revenues hit a record high, posting a 2.5% rise for the year to January 2014.
The firm, which owns and manages most of its nine hotels, enjoyed a rise in revenue to £80.4 million, boosted no doubt by the launch of the much anticipated 91-bedroom Ham Yard Hotel in the capital earlier this year in June.
The results revealed that all hotels in the portfolio saw an increase in occupancy, including the flagship Charlotte Street Hotel, which is popular among the celebrity crowd. Over the past five years, occupancy has remained stable at 85%.
The combined average room rate across all the London hotels increased to £319 last year, despite the challenging trading conditions.
Firmdale is also making its mark across the pond, with the firm’s 86-bedroom Crosby Street in New York trading strongly since it opened in 2009, and spurring Firmdale to develop a second hotel in midtown Manhattan, due to open in spring 2016.