Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Investment strategy reaps benefits at Apex Hotels

21 January 2020 by
Investment strategy reaps benefits at Apex Hotels

A solid capital investment programme helped drive strong growth at Apex Hotels with a 51% increase in pre-tax profit to £11.7m for the year ending 30 April 2019.

Turnover for the 10-strong UK-wide group was up 9.5% to £75.4m. The number of rooms sold rose by 5.5% year on year to 465,5000and revenue per available room (revpar) increased by 2.4%.

The trading year saw the Apex City of Bath hotel reach its first full year of trading, while £9m was invested in Apex's Temple Court and City of London properties in London and Waterloo Place in Edinburgh. The total sum spent on the latter three hotels amounted to £17.6m.

Angela Vickers (pictured), chief executive of Apex Hotels, said: "Over the past year, we have delivered on our capital investment programme to upgrade the portfolio.

"We are delighted to see this has resulted in a strong performance across the financial year and demonstrates our continued commitment to providing modern facilities and the best possible experience for our guests."

Apex is currently focused on a significant refurbishment programme at its City Quay Hotel and Spa in Dundee.

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Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

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