The chain behind nine Greater Manchester hotels, including a city centre landmark, has reported record profits despite ten consecutive years as the 'worst in the UK'.
Britannia Hotels racked up pre-tax profits of £33.3m for the 12 months to March 31, 2022, after falling to a loss of £9.5m in the prior year, according to newly-published accounts. The documents also show the business, which is headquartered in Hale, Cheshire, achieved a turnover of £117.8m, up from £38.3m.
The figures compare to its final year before the full impact of the Covid-19 pandemic in which its turnover totalled £120.4m and its pre-tax profits were £13.7m.
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The chain's portfolio includes the Britannia Hotel and Sachas Hotel in Manchester city centre as well as the Britannia Airport Hotel and sites in Wigan, Stockport and Bolton.
The chain's average number of employees during the financial year increased from 1,765 to 1,818 having been slashed by almost 1,000 in the prior 12 months.
In November 2022, Britannia Hotels was rated the worst in the UK for the 10th year in a row. Its hotels rated just two stars out of five for categories such as cleanliness, bed comfort and value for money in the annual survey by consumer group Which?. It received an overall customer satisfaction score of just 56%. Guests described the surroundings as "tired and tatty", with a "rough and ready" feel.
A statement signed off by the board said: "The result represents a return to performance levels comparable to pre-Covid-19 achieved during a period of difficult trading conditions which continues to limit opportunities for growth.
"Our priorities continue to be maintaining occupancy levels and to manage operating costs whilst ensuring that the business is well placed to exploit the opportunities of the future."
On its future, the company added: "The directors remain confident that the company is in a good position to meet the challenges and opportunities of the future. The hotels have managed to maintain their competitive edge through the economic downturn and continue to take steps designed to attract new business and improve market share going forward.
"The directors have carefully considered the availability of working capital and likely levels of trading over the next 12 months. They are confident that the business is well placed to meet the challenges including the current geopolitical uncertainty, cost of living crisis and the continuing impact of the Covid-19 pandemic."
The company's accounts for the 12 months to March 31, 2023, are due to be filed with Companies House by the end of the year.
A list of all Britannia's hotels in Greater Manchester:
- Britannia Wigan Hotel
- Britannia Bolton Hotel
- Sachas Hotel Manchester
- Britannia Hotel Manchester
- Britannia Country House Hotel, Manchester
- Britannia Airport Hotel Manchester
- Britannia Hotel Stockport
- The Ashley Hotel, Manchester
- Airport Inn Manchester Hotel & Spa
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