Consolidated accounts of Red Carnation's UK hotels report turnover of £47.8m

06 September 2018 by
Consolidated accounts of Red Carnation's UK hotels report turnover of £47.8m

The consolidated accounts of Red Carnation's UK hotels report turnover of £47.8m in 2017, with the group's hotel management company adding an additional £9.3m of revenue.

A document for Chesterfield (Mayfair) Limited filed with Companies House showed revenue of £41.65m for five of the group's London hotels: the Milestone hotel, 41 hotel, the Chesterfield, the Montague on the Gardens, the Rubens at the Palace, and the bbar restaurant.

The five London hotels and restaurant had recorded revenue of £42.37m in 2016, with the slight fall in 2017 attributed to the closure of one hotel for a number of months during refurbishment. The businesses made a pre-tax loss of £7m, compared to a loss of £3.1m the previous year.

Egerton House, saw turnover increase by 0.3% to £2.79m, but recorded a pre-tax loss of £203,815. Summer Lodge saw revenue increase by 4% to £2.5m, thanks to an increase in average room rate. Despite this Summer Lodge recorded a pre-tax loss of £1.2m.

The Acorn pub recorded a 4.9% increase in revenue to £834,319, with pre-tax losses of £41,340.

The hotel group's management company reported revenue of £9.3m from the delivery of services to related parties. The figure marks an increase from the £8.7m recorded in 2016. The gains comprise an increase in UK revenue from £8.1m to £8.3m and EU revenue from £257,352 to £570,505. 'Rest of the world' revenue increased slightly from £324,372 to £340,968.

The management company's profit before tax was up to £645,939 from £610,970 in 2016.

In addition to Red Carnation's eight UK hotels, the company also owns and operates a further nine properties in Guernsey, Ireland, South Africa, Switzerland and the USA.

*An earlier version of this article comprised only the accounts for Red Carnation's management company.

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