The BOV-MHRA Survey Q1 2014, carried out by Deloitte, showed that all sectors reported reductions in their low season gross operating losses.
In the five-star sector the gross operating loss per available room decreased by 46.5 per cent mainly as a result of improved rates (a 4.8 per cent increase in average room rate) and occupancy (an increase of almost 12 per cent).
Four-star hotels registered a 16.6 per cent reduction in gross operating losses resulting from an increase in average room rate (8.3 per cent) but a one per cent drop in occupancy.
The three-star sector also saw a reduction on gross operating losses of 26.2 per cent resulting from a 9.4 per cent increase in occupancy but a drop of 1.6 per cent in average room rate...read on.
