A “relative improvement” in the fortunes of UK hotel group Peel Hotels can be expected on the back of a doubling in pre-tax profits.
The message came from chairman Robert Peel as the company reported pre-tax profits up from £202,136 to £555,419 in the 28 weeks to August 17.
Sales were up by 4% in the period to almost £8.6 million as revenue per available room increased 8.3% with occupancy up 8.8% and average room rate down 0.5%.
Net debt decreased by £379,681 to £11.3 million.
Peel described that pre-tax profit as “creditable” and said: “There is no reason not to expect this trend to continue and therefore shareholders can expect, after several years of disappointing results, a relative improvement in the fortunes of their group.”
The company owns nine four-star hotels across the UK.
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