Apex Hotels reports strong growth

Martha Elwell By Martha Elwell
29 November 2017 | Updated 29 November 2017

UK: Apex Hotels has experienced another year of strong growth

Apex Hotels Limited has reported a year of strong growth, with a 6 per cent rise in turnover (from £61.3 to £65m) and a 2.1 per cent rise in profits before tax (up from £10.3m to £10.5m).

Apex Limited demonstrated confidence in the market during the financial year with capital investment of £20.7m used to further develop its new hotel, Apex City of Bath.

Angela Vickers, Chief Executive Officer, Apex Hotels Limited said: "We are proud to reflect on a financial year that shows considerable capital investment and consistently strong financial performance. In January we promised an exciting year of development and investment and our stunning new hotel in Bath has delivered that - and created 120 jobs.  It is the city's largest in terms of bedroom numbers and events space, and also features a restaurant, bar, and pool and gymnasium so it appeals to business and leisure travellers alike."

Apex is already benefitting from investments made in the previous financial year (ended April 2016), during which it added 134 rooms through Apex City of Glasgow's opening and Apex City of London's extension.  Consequently its latest figures show a 7 per cent growth in rooms sold and occupancy was up by 2.6 per cent.  

Vickers added: "…our investment plans don't stop here - there's more exciting news in the pipeline with multi-million pound refurbishment works set to be announced in the coming weeks. In the longer term we anticipate the continued growth of our hotel and hospitality operations through extension of existing sites where possible and acquisition of new development sites as opportunities arise." 

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