Peel Hotels returns to the black as revenues rise

Peel Hotels returns to the black as revenues rise

Peel Hotels achieved a “creditable improvement” in the financial year to February 1 with revenues up by 6.1% year-on-year to £16.4 million.

The UK group saw pre-tax profits of £800,000 against a loss of £2.7 million the previous year.

Revenue per available room increased by 9.9% with occupancy up 8.9% and average room rate up 1%.

Chairman Robert Peel said: “Sustained improvement in turnover has continued in the new financial year and we continue to pay down our debt.

“These two factors will enable us to look forward to another year of progress.”

Net debt stood at £10.8 million at the end of the financial year, down from £11.7 million.

The company spent £603,295 in the year, including £240,260 on refurbishing the Crown and Mitre Hotel in Carlisle. English Heritage contributed £80,000 towards the restoration works.

Other work was carried out on properties in Newcastle, Leeds and Bournemouth.

“We continue to invest in our internet access throughout all our hotels giving our guests faster connection,” the company said.

“This service is absolutely free to our guests and is a vital component to their having a satisfactory stay with us.”




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