OPERATIONS REVIEW
In addition to the accolade received, the hotel
achieved excellent results for the financial year.
Higher occupancy and average room rates were
attained, resulting in strong revpar growth of
7.5%. This is further complemented by better
performance from its F&B segment, resulting in
overall GOP growth of 12.4%.
The hotel recently completed its refurbishment of
the pool, spa and Presidential Suite, and plans
are in progress to add another 24 suites to its
existing room inventory. A major refurbishment
program is also underway to transform Harry’s
Restaurant into Argentinean eatery La Boca.
This will be the Group’s second La Boca outlet
following the success of Stamford Plaza Adelaide’s
La Boca.
Stamford Plaza Brisbane
achieved revpar
increase of 2.5% on the back of higher average
room rate of 1.5% and occupancy growth of 0.8%
over the last FY. However, GOP fell by 2.9% due to
higher operating expenses.
The hotel did particularly well in the internal
conference segment and also acquired new
corporate accounts. On top of its core corporate
and conference businesses, the property was also
able to ride on special city-hosted sporting events,
such as the British & Irish Lions Tour and Ashes
Test Series.
The Brisbane market is expected to remain soft
in the coming FY. However, Stamford Plaza
Brisbane is privileged to be selected as one of
the leading hotels for the G20 Summit which
will be held in Brisbane in the fourth quarter of
2014. This is expected to contribute positively to
the hotel’s performance. To augment the hotel’s
bottom line, the property will continue to stay
focused on cost efficiency management and
productivity improvement.
The Par Bar, Stamford Plaza Brisbane
17
STAMFORD LAND CORPORATION LTD
ANNUAL REPORT 2013/2014
