Improved trading across most operating regions and new openings helped PPHE Hotel Group raise annual revenues by 19.3% to £325.1 million.
Two new hotels in London and a property in Nuremburg in Germany supported the sales growth.
Earnings [EBITDA] for the year to December 31, 2017 increased by 14% to £107.3 million.
However, the pre-tax profit rose by only 1.1% year-on-year to £32.1 million, affected by the first year loss of new openings.
President and chief executive, Boris Ivesha, said: “2017 was another year of significant progress for the group and a number of milestones have been achieved.
“This strong performance was once again delivered alongside corporate activity, including a significant fundraising in Croatia, the addition of 706 rooms to the UK portfolio and refinancing of debt, in line with our business goal of realising our growth potential and creating long-term value for our shareholders.”
He added: “Trading in 2018 to date is in line with the board’s expectations and we look forward to focusing on a strong pipeline of renovations and developments which will further expand and enhance our hotel portfolio.
“We firmly believe that the superior quality of the new product and service offerings will stand us in good stead for healthy trading in the long term.”