Friday, June 14, 2024
Friday, June 14, 2024
HomeNewsApex Hotels eyes expansion after rise in profits

Apex Hotels eyes expansion after rise in profits

Edinburgh-based hotel chain Apex Hotels is looking to expand in 2017 after a strong trading year in which its underlying pre-tax profits leap 11.8% to £10.3m for the year end of April.

The group’s turnover rose by 7% to £61.3m and its room stock also increased by 134 rooms, following the opening of Apex City of Glasgow in September 2015 and a 30-bedroom extension to Apex City of London.

The company attributed the results to strong trading across its nine hotels in London, Edinburgh, Glasgow and Dundee, and new room openings.

Angela Vickers, CEO Apex Hotels Limited, said the positive results will pave the way for future expansions and investments in its existing properties, including developments at its Dundee waterfront hotel, as well as potential future acquisitions.

Vickers (pictured above) said, “We are proud of our continued growth in recent years, defying challenging market conditions, and 2017 promises to be a very exciting time for us. We will continue to look at other opportunities to extend and complement our existing portfolio.

“We are also set to develop Customs House on Dundee’s waterfront next to our existing Apex City Quay. We are planning further bedroom expansion at Apex Temple Court in London as well as refurbishment totalling £6million across our City of London, Grassmarket and Dundee hotels.”

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