Snoozebox reports 80% revenue growth

20 February 2014 by
Snoozebox reports 80% revenue growth

Snoozebox Holdings has reported 80% revenue growth in 2013 to £6.5m.

In a trading update, the portable accommodation firm said that the outlook was bright, having recovered from a problematic Olympic contract that contributed to a £4.4m loss in 2012.

In 2014 Snoozebox will be present at Glastonbury, where packages start at £2,000 per room, and the Ryder Cup, where it will operate a hotel for the host broadcaster.

It said that sales to date for 2014 were selling well, with Moto GP and the IOM TT race packages almost sold out.

Chairman David Morrison said: "The work undertaken in the second half of 2013, since the change in management, has achieved demonstrable progress. The release of the Next Generation Portable Hotel combined with the levels of demand being experienced, creates a sizeable opportunity for growth both in the UK market and overseas."

Snoozebox to raise £10m in a bid to save the business >>

Snoozebox reports £4.4m loss after disappointing Olympics >>

TagsFinance and Hotels
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