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UK downturn hits Park Plaza
By Tom Walker
Hotel operator Park Plaza has reported a fall in revenue, mainly caused by the decline in its UK operations.
The company, which owns and operates properties in Europem the Middle East and North Africa, said revenue for the year ending 31 December was down 6.3 per cent.
RevPAR was also badly hit, declining from 97 euro (£80) in 2007 to 90.3 (£86) euro.
A spokesperson added: "We anticipate that 2009 will be a very challenging year for our industry, we believe that the strength of our portfolio means that we are well placed to manage through current economic conditions."
Hotel operator Park Plaza has reported a fall in revenue, mainly caused by the decline in its UK operations.
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