The Caterer

Village Hotel Club reveals loss as turnover climbs by 6.8%

30 September 2019 by
Village Hotel Club reveals loss as turnover climbs by 6.8%

Village Hotel Club made a loss after taxation of £709,000, down from a profit of £14.1m the previous year, according to the annual financial statement for parent company of the 30-strong group VUR Holdings (UK).

In the document lodged at Companies House, it was revealed that a £1.5m property impairment during the year ended 31 December 2018, combined with a £9.9m reversal of the prior year’s property impairment in 2017, contributed to the loss.

Total turnover for the company increased by 6.8% to £208.4m, with average daily rate and revenue per available room up by 1.5% to £68 and 3.5% to £59 respectively. Average occupancy increased from 86% to 87% and group EBITDA grew by 8% to £4.1m.

Owned by US-based private equity company KSL Capital Partners, Village derives its revenue from three core stream: bedrooms, food and beverage and health and fitness, with leisure club members growing by 5.2% to 96,716.

The new all-day dining Pub & Grill concept which was implemented at nine hotel during 2018 helped grow food and beverage revenue by 4%.

At the end of the financial year, the group’s hotel property portfolio was valued at £730.9m, up 13.1% from the previous year. Two further sites are due to open in Basingstoke and Southampton, with more locations expected to be secured by the end of 2019.

Continue reading

You need to be a premium member to view this. Subscribe from just 99p per week.

Already subscribed?

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!