Pre-tax profits have fallen by more than a half at private equity-backed hotel giant Village Hotel Club, although directors said that trade has been “very positive” in spite of the disruption caused by a major refurbishment programme.
VUR Village Hotels generated pre-tax profits of £24.2m in the 2016 calendar year, according to its latest set of accounts. This represents a year-on-year decline of 56 per cent.
Turnover increased by 3 per cent to £185m over the same period.
The results show that Village Hotel Club operated 28 hotels across the UK and had 3,491 bedrooms as of 31 December 2016. Its average daily room rate was £67 and its occupancy rate was 80.9 per cent.
The Warrington-based company also had an average headcount of 3,892 in 2016.