Cornish hotel group report 10% rise in turnover
The Cornish-based Nettleton Group, incorporating three hotels and a spa, has reported a record year with turnover up 10% on the previous year.
Business has increased at the four star Bay hotel and Fistral Spa and three-star Esplanade, which both have 92 bedrooms and overlook Fistral Beach, since a £3m-plus refurbishment of the properties in 2008.
A third hotel - the 41-bedroom Boringdon Hall, near Plymouth - was added to the portfolio when the company bought it off a guide price of £2.25m from former Plymouth Argyle footballer Paul Chapman, who was retiring.
James Nettleton, director of the Nettleton Group, said the company had finished the last financial year in a secure position as the result of hard work by the staff and a solid focus on continually gauging and reacting to the marketplace and needs of consumers.
"The investment into our hotels has met our aim of attracting and converting the high-spend ‘lifestylers' market," he said. "We are completely committed to strengthening the quality and appeal of our products on an ongoing basis."
Nettleton went on to say that 2011-12 could potentially be tough. "Competition will be fierce, but we believe that those who take a proactive approach will stand to benefit in the long run."
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By Janet Harmer
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