Von Essen reveals financial performance for past year

The luxury hotel operator Von Essen made a profit of £6.1m in the past year.

The hotel group which owns Seaham Hall in County Durham and The Royal Crescent in Bath, states its turnover at £56.8m, net assets at £89.5m and total fixed assets worth £272.3m in its fourth annual report.

The luxury operator is planning to invest a further £50m in its existing portfolio of 26 hotels in the coming years.

A significant portion of this sum will be spent on the group's first foray into central London, with the building of its newest hotel at Bridges Wharf in Battersea, which is set to open in summer 2009.

In March this year, Von Essen acquired the five-star Seaham Hall and Serenity Spa in County Durham as well as The Samling hotel in the Lake District from Jocelyn and Tom Maxfield, former directors of Sage.

Amberley Castle in Sussex also became part of the collection.

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By Gemma Sharkey

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