UK: Hand Picked Hotels, a collection of luxury country house hotels in the UK and the Channel Islands, saw turnover drop 2.4 per cent to £60.183 million.
According to the latest accounts on Companies House, the group – which has 17 UK properties and three in the Channel Islands – reported a 0.1 per cent decrease in occupancy for the year ending 29 November 2018.
As average room rates grew by £0.27, operating profit for the period was £1.2 million compared with £2.3 million in 2017.
Julia Hands, CEO and chairman of Hand Picked Hotels Holdings in Guernsey, said: “The results, when adjusted like-for-like on a 52-week trading period, reflect a stable turnover of £60.2 million. We continue to operate in a challenging and uncertain market with increased supply and rising costs affecting operating profit.”
“However, despite that, we have seen steady growth in some areas of our business and remain positive about the future,” she added. “Our commitment to Hand Picked Hotels is reflected in the capital expenditure on our properties in the last year of over £5 million.”
The group is investing in bedroom stock, leisure and conferencing facilities, as well as food and beverage offerings to ensure its growth as the market continues to recover.