Apex Hotels reports £16.4m pre-tax loss

Apex Hotels has reported a pre-tax loss of £16.4m for the year to 30 April 2021, down from a £7m profit the prior year, impacted by almost eight months of coronavirus restrictions and closures during the period.

Like much of the sector, operations and cashflow were significantly impacted by government and international travel restrictions, coupled with the move to working from home affecting business travel.

However, the group said it took advantage of the slowdown to invest in back-office infrastructure, guest-facing technology and its staff training programmes, leaving it well-positioned to maximise opportunities as the travel sector picks up.

Chief executive Angela Vickers (pictured) said a combination of successfully adapted strategic priorities, market positioning, and the ability to appeal to those looking to explore new locations through the hotel portfolio, helped bolster results.

She said: "We rolled out new technologies, including new property and guest management systems to reduce the time spent processing data and allow our staff more time to serve the needs of our guests. We also brought in a new staff training programme, enhancing learning and development, as well as launching a big data project to provide us with valuable insights to drive further business improvements.

"With the reopening of the hospitality industry, and thanks to a successful vaccination programme roll-out, we are in an excellent position to grow revenue once again and we are confident in our ability to drive long-term, sustainable growth as we near the end of the pandemic. We look forward to welcoming guests, old and new, and returning our results to pre-pandemic levels. Our outlook for the year ahead is optimistic."

The group is headquartered in Edinburgh and operates 10 hotels in London, Edinburgh, Glasgow, Dundee and Bath.