OPERATIONS REVIEW
Stamford Grand Adelaide
performed well in a
competitive Adelaide market, achieving an overall
revpar increase of 1.6%. GOP increased by
3.4% at the back of higher room revenue and
efficient cost management.
The Group is planning a series of major
refurbishment programs in the coming year to
rejuvenate this beach-front hotel in Glenelg.
The hotel’s 220 guest rooms will be refreshed and
its banquet facilities will be enhanced to extend
the hotel’s reach to niche segments of business
and leisure guests. Upon completion, this will
reinforce the hotel’s position as the only 5-star hotel
in Glenelg and augment future revenue.
GOP for
Stamford Plaza Adelaide
declined
marginally by 2% due to a major room
refurbishment program spanning over a period of
seven months. In addition, the hotel underwent
an extensive revamp of an existing F&B outlet
to create an Argentinean eatery La Boca,
serving authentic delectable chargrilled cuisine.
La Boca transforms into a night club Viva La
Boca during the weekends, after restaurant
hours. The restaurant/club has been very popular
since its debut in March 2014 and plans are
underway to open a second La Boca outlet in
Stamford Plaza Melbourne.
The Adelaide market continues to be challenging
with some 600 new rooms inventory coming
on-stream. However, with the completion of its
A$7.7 million room refurbishment and the
successful debut of La Boca, Stamford Plaza
Adelaide is well positioned to overcome the
competitive environment and is expected to
contribute positively in the coming year.
Stamford Plaza Melbourne
was named
“Apartment/Suite Accommodation of the Year”
by the Australian Hotel Association State Awards.
LaBoca Argentinean Bar & Grill, Stamford Plaza Adelaide
“Adelaide has its first asado, the Argentinian-Style open fire pit over which large cuts or sides of meat are grilled in traditional
parrilla” (Source: The Advertiser)
STAMFORD LAND CORPORATION LTD
ANNUAL REPORT 2013/2014
16
