Snoozebox triples its presence at events

Snoozebox will have more than tripled the number of events at which it provides accommodation year on year, by the end of 2015.

The portable hotel provider operated at 11 events across the UK and Europe in 2014, but said this year's figure will reach 40.

The growth is as a result of the company's strategy to establish its presence in the events market, including music, motorsport and other events.

Snoozebox has developed two products for the sector: Snoozy and the Snoozebox new event hotel. The company said it is confident of deploying the balance of the original room stock on a semi-permanent basis.

Planning permission is in process for more than 600 rooms at five locations.

In 2015, the company increased its revenue per room on the original room stock by almost 100% to more than £9,000 per room, largely driven by deployments at the Eden Project and the Falkland Islands.

Turnover for 2015 is expected to be in line with market expectations, according to a trading update released today.

Snoozebox said it anticipates higher operating costs this year, driven in part by the growth in its events market, while the expected 2015 EBITDA level is a loss of around £5m.

The revenue from the further semi-permanent deployments is expected to be realised in 2016.

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