Apex Hotels reports sharp rise in turnover and profit
- Published
The Apex Waterloo Place Hotel in Edinburgh was one of several sites to undergo an upgrade last year
The Apex Hotels chain has reported a sharp rise in turnover and profits, following "significant" investment in its portfolio.
The Edinburgh-based group said revenue climbed by 9.5% to £75.4m in the year to the end of April 2019, while pre-tax profit was up by 51%, at £11.7m.
The number of rooms sold rose year-on-year by 5.5% to more than 465,500.
Apex operates a total of 10 hotels in Edinburgh, Glasgow, Dundee, London and Bath.
The company said it had invested a total of £9m over the year in upgrading two of its London hotels and its site in Waterloo Place, Edinburgh.
Chief executive Angela Vickers said: "Over the past year, we have delivered on our capital investment programme to upgrade the portfolio.
"We are delighted to see this has resulted in a strong performance across the financial year and demonstrates our continued commitment to providing modern facilities and the best possible experience for our guests."
- Published5 February 2019
