Hand Picked Hotels boss bullish despite £9 million pre-tax loss

UK: Hand Picked Hotels. the boutique hotel collection has recorded a pre-tax loss, citing “continued difficult trading conditions”.

UK: Hand Picked Hotels. the boutique hotel collection has recorded a pre-tax loss, citing “continued difficult trading conditions”.

The company, which is run by Julia Hands, the wife of private equity tycoon Guy Hands, recorded an operating profit of £8.9 million for the 12 months to November 28 2013, compared with £8.3 million in the same period the previous year.

But the company recorded a £9.1 million loss before tax due to depreciation and interest charges. Sales  were down 2.9 per cent, from £59.9 million to £58.1 million.

Despite the loss, Hands cited the classification of the Rookery Hall Hotel & Spa in Cheshire as an AA red star property, the 10th within the portfolio, saying: “This reconfirms the progress we are making as establishing Hand Picked Hotels as the UK’s leading collection of four-star country house hotels. We are confident that the unique combination of excellent service, fine food and historic country houses that defines our proposition will continue to be attractive to our guests.”

Hand Picked Hotels owns and operates 20 country house hotels across the UK and the Channel Islands, including the St Pierre Park on Guernsey, Rhinefield House in Hampshire, and Buxted Park Hotel in East Sussex.

During its last financial year, it took on management contracts for two new hotels, taking its portfolio to 1,231 bedrooms, up from 1,042 in 2012.

www.handpickedhotels.co.uk

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