This continues declines are also cause of events and decision made over those 5 years, for example:
August 2007 company decided to sell the Avon Hotel and buy planning permission for an extension of hotel in Bradford. After the official announcement, the graph shows immediate drop. Within a month however, the trust was regained and share price went up to 190 per share.
Once there, in September 2007, the Peel Hotels PLC bought 2 new lease holds in Peterborough and leased out the basement of Midlands hotel for 25 years.
Drop of average price per room is most significant from July 2008 to November 2008, where in this relatively short period the price of around 175/share declined to 100/share. Also Mr Peel commented in full-year result 2009: "It is impossible to predict when the economy will start to recover. In the current environment our strategy will continue to be one of further investment in our product, weightedto our freeholds, in order to gain market share and a higher average room rate" (Caterersearch, 2009).
Followed by recovery to 125/share and drop again caused by £1M refurbishment of Cosmopolitan Hotel.
