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Strong trading prompts Portland Hotels to seek expansion opportunities

26 June 2014 by
Strong trading prompts Portland Hotels to seek expansion opportunities

Portland Hotels, the privately owned Edinburgh-based group, is seeking suitable investment opportunities to expand its portfolio of five properties, following the publication of a strong set of financial results.

In the year to 26 January 2014, the group achieved a 4.5% rise in turnover to £15.52m, with a 20% increase in profit before tax of £2.6m.

Colin Paton, founder of Portland Hotels, described the group's trading performance as "exceptional".

"With a market in better shape than it has been for many years and favourable banking facilities, we are well placed and actively seeking to expand our portfolio," he said. "In the interests of balancing risk the group seeks sensible, multiple acquisitions throughout the UK.

"We have a loyal and hardworking workforce, a very credible, successful and experienced management team with a track record of delivering growth through managing operational efficiencies and making appropriate investment."

Paton added that the group had continually invested in the maintenance of its hotels, spending £8.6m on capex over the past 10 years.

Portland Hotels reports healthy increase in profit and turnover >>

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