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Turnover at the Pig’s parent company climbs to £14.2m

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Turnover at the Pig’s parent company climbs to £14.2m
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Three of the four Pig properties recorded occupancy rates of over 90% in 2015, according to the latest financial results for parent company Home Grown Hotels, lodged at Companies House.

Total turnover for the group during the year was £14.2m, up 42% from £10m. It was the first full operating year for two of the hotels – the Pig near Bath and the Pig on the Beach in Studland Bay, Dorset.

The 23-bedroom Pig on the Beach achieved the highest occupancy of 96%, alongside a revenue of £4.2m, EBITDA of £1m and average daily restaurant covers of 154.

Occupancy at the original 31-bedroom Pig, near Brockenhurst in the New Forest, which opened in 2011, was 94%, with turnover increasing by 13.5% to £4.7m, EBITDA was £1.1m (2014: £1m) and average daily covers were up 12.4% to 181. Robin Hutson, director of Home Grown Hotels, said in the company’s strategic report: “Behind these excellent statistics lies the ability of the hotel’s management to efficiently handle such large numbers.”

The 29-bedroom Pig near Bath generated a revenue of £4.2m, EDITDA of £1m, occupancy of 91% and average daily covers of 154.

Meanwhile, the 12-bedroom Pig in the Wall in Southampton was said to have had “an exceptional year” for such a small operation with a deli counter in place of a full restaurant offering. An occupancy of 81% was achieved alongside a revenue of £700,000, EBITDA of £200,000, and and of 73 visits a day to the deli counter.

This year has seen continued strong demand for all the Pig hotels, including the new 27-bedroom Pig at Combe, near Honiton, Devon, which opened in July.

The Pig at Combe to open in July >>

The Pig’s parent company reports annual turnover of £4.5m >>

Business profile: The Pig hotels >>

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