Page 22 - ar2011_2012

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STAMFORD LAND CORPORATION LTD
Operations Review
Stamford Plaza Melbourne enjoyed a 9.2%
improvement in its GOP. This is mainly due
to an increase in room revenue and lower
operational expenses. Keeping a watchful
eye on costs, the hotel saved substantially
on housekeeping expenses with a change in
the outsourcing company.
The hotel’s revenue increased by 5.7%,
boosted by growth in the average daily
room rate as well as higher occupancy.
The occupancy rate had risen by 1.6% to a
healthy 88.9%. With skilful yield management
strategies, revpar increased by 6.0%, beating
other hotels in the same category.
The all-suite Stamford Plaza Melbourne,
located in the chic Paris end of Little Collins
Street, strengthened its market position
after the completion of room refurbishment
in March 2011. Attracting a discerning
clientele, the hotel offers luxury in style and
space. Every well-appointed suite has its
own kitchenette and every room has its own
separate bathroom. The hotel’s lobby and
main entrance will be refurbished by June this
year. The A$2-million makeover will further
reinforce the appeal of this boutique hotel.
Our passion for service excellence is
exemplifed by Stamford Plaza Melbourne’s
Front Offce Team Leader, Lisa O’Carroll, who
clinched the award for ‘Hotel Industry Rising
Star’ in the 2012 Tourism Accommodation
Australia (TAA Vic) State Awards for
Excellence. The hotel was also a fnalist in
several other categories: Apartment/Suite
Accommodation of the Year, Administration
Employee of the Year and Food & Beverage
Services Employee of the Year.
We expect Stamford Plaza Melbourne
to retain its proftability although it would
be challenging to achieve the level of
performance improvement witnessed over
the last two years, given that demand from the
corporate sector is stabilising and forecasts
for international visitors to Melbourne are
fat.
Stamford Grand Adelaide’s GOP fell by
9.2%. This was due to a marginal fall in
revenue by 1.1% combined with increased
expenses for payroll as well as the repair and
maintenance of the aging property.
Although the average room rate had
improved, room revenue fell by 2.9%. This