ANNUAL REPORT 2014/2015
The Stamford Suite, Stamford Plaza Brisbane
OPERATIONS REVIEW
The Brisbane market will likely remain soft in the
near term, with continued pressure on room rates
due to additional supply from new market entrants
and weak demand owing to the slowdown in the
mining sector. Cost efficiency management and
productivity improvement remain the key focus of
SPB for FY2016 as it strives to maintain its lead.
MELBOURNE
Stamford Plaza Melbourne
(“SPM”) recorded a
stellar performance for FY2015, achieving a strong
revpar growth of 6%. A concerted effort to reduce
reliance on online travel agents and focus on
revenue yield resulted in the hotel turning in record
GOP with a year-on-year improvement of 2.4%.
To further enhance the F&B contributions to
overall revenue, a refurbishment program is
underway to transform Harry’s Restaurant into
another La Boca outlet. This will be the Group’s
third La Boca restaurant after SPA and SPSA. In
addition, discussions are underway to construct an
additional 24 suites next winter. Upon completion,
these additional room inventories will augment
future revenue.
Against the backdrop of a buoyant Melbourne
market backed by strong occupancy demand and
a packed events calendar, SPM is expected to
continue its sterling performance in FY2016.
AUCKLAND
Despite displacement in room inventory,
Stamford
Plaza Auckland
(“SPAK”) maintained its results for
FY2015 on the back of higher average room rates.
This follows the completion of Stage One of its
NZ$7.9million refurbishment program. Stage Two
of the program is currently underway, and when
completed in 2H2015, will further augment revenue.
In addition, there are plans to upgrade guest lifts
and refresh conferencing and banqueting facilities.
Overall, the series of refurbishments when
completed, will enhance overall guest experience
and strengthen SPAK’s position as the hotel of
choice in Auckland.
