Hotel owner and developer Signature Living Group has announced record profits of £5.8m in the year to 1 April 2016.
The profit represents an increase of 262% in one year, increasing year-on-year from £1.6m.
Founded by Lawrence and Katie Kenwright in 2008, Signature Living owns four hotels in Liverpool, including the Titanic-themed 30 James Street and the Shankly hotel, dedicated to Liverpool footballer Bill Shankly.
Recent years have seen rapid expansion, with the firm branching out into residential development as well as new hotels in Belfast, Cardiff and Preston.
In Northern Ireland, the group has purchased the city’s Crumlin Road Courthouse with plans to turn it into a new hotel and tourist attraction, as well as having plans to transform the city’s Scottish Mutual Building into a luxury hotel.
Last week, Signature Living also unveiled the first phase of its new 200-bedroom Exchange hotel in Cardiff Bay (pictured), with 40 bedrooms currently open for bookings. The group is also developing Preston’s Old Post Office building into a hotel.
Signature Living Group chairman Lawrence Kenwright said: “This is a phenomenal set of results, with all of our hotels, restaurants and bars making a strong contribution. Signature Living has experienced remarkable growth, and our investors, stakeholders and hard-working employees are delighted with the results.
“Over the next 12 months, our focus is firmly on the expansion of our hotel portfolio. We will seek every opportunity to increase profitable turnover even further than our projected £20m.”
Videos from The Caterer archives