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Balbirnie House Hotel in Fife has announced its has returned to profit attributed in part to an 8.3% to a turnover.
For the full-year period ending 30 April 2019, Balbirnie House reported turnover of £3m, up from £2.8m the previous year. It also moved from a pre-tax loss of £76,491 in 2018, to £124,007 profit in 2019.
Staff numbers at the hotel have also been reduced from 115 in 2017, to 94 in 2018, and to 81 this year. Wages and associated costs also decreased by 3.6%.
In the annual report for the hotel, managing director Nicholas Russell said the directors are “very happy indeed to see a return to profit in this financial year.”
He said: “As at winter 2019, the hotel is investing in the installation of a complete technological upgrade across the entire span of reservations systems and operations, the directors feel this is a very significant step towards the stated aim of becoming Scotland’s first cashless hotel.”
Balbirnie House Hotel is investing around £45,000 in new guestline technology, which will pave the way to a new “digitised ecosystem.”
However, Russell also expressed concerns about the impact of Brexit, as well as the rising cost of minimum wage.
He added: “Due to Brexit, there will continue to be accelerating costs, and similarly and specifically stemming from Brexit, there is very significant general uncertainty in the UK hospitality and tourism sectors.
“The directors are also saddened to see the loss of ability to employ EU nationals, as a significant proportion of company employees have always previously originated from within the EU.”
