The opening costs of the 27-bedroom Pig at Combe dug into the 2016 profits of Home Grown Hotels, according to the group's annual report lodged at Companies House.
Overall, turnover for Home Group Hotels, parent company of the Pig, climbed 20% to £17.1m, with pre-tax profit falling from £969,813 in 2015 to £40,004 last year.
The Pig on the Beach repeated its success from 2015 as the hotel in the group with the highest occupancy at 96%, while revenue increased 2.2% to £4.7m and EBITDA remaining flat at £1.3m. Average daily number of covers served at the hotel was 166.
Occupancy at the original 31-bedroom Pig, near Brockenhurst in the New Forest achieved a 7.2% increase in turnover to £5m and an average occupancy of 93% (down from 94% the previous year). EBITDA grew 9% to £1.2m.
The 29-bedroom Pig near Bath generated a 7.1% revenue increase to £4.7m, EDITDA of £1m (down by 5.6%) and occupancy of 92% (2015: 91%). Average number of covers served daily was 158, up from 154 the previous year.
Demand for the business, which includes the 12-bedroom Pig in the Wall bed and breakfast operation in Southampton, has remained strong throughout 2017. The company is now looking to expand to sites in Kent and West Sussex.
Home Grown Hotels was launched by Robin Hutson in 2011 with the opening of the Pig in Brockenhurst.
Turnover at the Pig's parent company climbs to £14.2m >>
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