The Caterer
Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Apex reports 12% rise in pre-tax profit

24 January 2017 by

Apex Hotels has reported a 11.8% rise in underlying pre-tax profits from £9.2m last year to £10.3m.

The hotel firm said that turnover was up 7% to £61.3m, and that strong trading across its nine-hotel portfolio, which spans London, Edinburgh, Glasgow and Dundee, and new room openings were key contributors.

The opening of Apex City of Glasgow (pictured) in September 2015 and the 30-bedroom extension to Apex City of London saw room stock rise by 134 rooms. Meanwhile the company also reported a £10m increase in valuations (rising to £336m).

"It is important for us to continue investing in our existing portfolio and we are planning further bedroom expansion at Apex Temple Court in London as well as refurbishment totalling £6 million across our City of London, Grassmarket and Dundee hotels. In 2017 we will continue to look at other opportunities to extend and complement our existing portfolio," she added.

TagsFinance and Hotels
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking