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Eden Hotel Collection has reported its operating losses widened to £2.9m during the year ended 31 March 2024.
According to documents at Companies House, the hotel directors attributed the loss to unstable trade which continues to be affected by both market changes from Covid recovery and the current economic climate.
However, the hotel group saw a turnover increase by £472,000 to £16.9m during the year.
Eden also said that there continues to be longer term and regional effects of the pandemic on the business. In particular, the South West has seen a “much reduced demand” for another year and customer booking patterns are “much less predictable with a greater degree of cancellation”.
Lastly, inflation and cost of living also had an impact during the year, both on the customer base due to less discretionary spend and in the internal cost base where food inflation in particular has been “extreme”, together with “increased payroll putting pressure on margins”.
Despite this, the strategic report highlighted that the hotel directors remain “confident in the underlying trade and returning to future profitability”.
Eden Hotel Collection currently consists of a portfolio of six luxury sites across the Midlands, Cotswolds and South West: Bovey Castle Estate, Mallory Court Country House Hotel and Spa, Arden Hotel, Arden House, Brockencote Hall, and The Greenway Hotel and Spa.
