Peel Hotels report 5% sales growth
Regional group Peel Hotels has reported an increase in turnover of nearly 5% in its interim results.
Sales over the 28 weeks to 19 August 2012 was £8.21m, an increase of 4.7% in the same period last year, while profit before tax was £45,049 compared with a profit of £32,998 during 2011. Earnings before interest, tax and depreciation increased 1.1% to £1.02m.
Revenue per available room (revpar) increased 2.6% with occupancy down 0.3% and average room rate up 2.8%.
The company, whose debt stands at £12.42m, has been careful to conserve cash, but not at the detriment of maintaining and improving its hotels with £172,331 being spent during the period across its nine-strong portfolio of four-star hotels, mainly upgrading the garden at the Norfolk Royale hotel in Bournemouth and on the continuation of improving the bedrooms at the Midland hotel in Bradford.
Robert Peel, chairman of Peel Hotels, said: "We have made progress in the period in terms of sustainable sales growth, revpar growth and the continuing decrease of net debt. We hope to build on this very satisfactory sales growth by improving our return on sales."
Peel Hotels reports toughest trading in company history >>
Peel Hotels sees drop in six-month turnover >>
By Janet Harmer
E-mail your comments to Janet Harmer here.
Catererandhotelkeeper.com jobs
Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs
