Twelfth year of growth
20 January 2003
Macdonald Hotels reported its 12th consecutive year of growth for the 12 months to 3 October, despite challenging trading conditions.
Pre-tax profits grew by 17% to £16.1m, on turnover 29% ahead at £139.7m. Earnings before interest and tax soared by 31% to £27.6m.
The acquisitions of the Heritage and Barratt portfolios last year make Macdonald the eighth-largest hotel and leisure group in the UK.
Provincial hotels boosted room yields by 5% to £45.85. However, despite signs of recovery around the M25-London area in the last quarter, overall room yields here fell by 12% to £59.99.
