Thistle has still some way to go

Thistle Hotels gave out some encouraging full-year figures when it reported on 5 March. Ope...

Thistle Hotels gave out some encouraging full-year figures when it reported on 5 March. Operating performance was good, particularly in London. Underlying profit before tax for the 12 months to 31 December was up 12%. Earnings per share rose 6.3% to 5.1p. The company is two years into its £180m three-year programme to upgrade all rooms to four-star standard. This refurbishment is paying off. Last year's rise in available room revenue (revpar) of 6% has risen to over 10% in the first two months of 2001, fuelled by a buoyant London market. London's revpar was 12.5% in the sec...