Jarvis Hotels is planning to expand in both the UK and Europe during the next year.
Chairman John Jarvis, whose chain has a £100m war chest, believes industry consolidation over the next 18 months will bring new opportunities in management contracts and acquisitions.
The Jarvis chain, which comprises 64 hotels in the UK, boosted pre-tax profits by 24% to £30m on turnover 16% ahead at £136.6m in the year to 28 March 1998.
Revenue per available room climbed by 14% to £32.51, thanks to increases in occupancy, up 4.4% to 68.3%, and in average room rates, which climbed by 9% to £47.60.
- Macdonald Hotels also announced its annual results last week. The group's operating profit was up 27% to £12.9m, with turnover up 26% to £51.7m. The group has just added the Bobsleigh Inn, near Hemel Hempstead, to its portfolio, making a total of 24 hotels.