First-half revenues up 300% for Snoozebox

Portable hotel company Snoozebox has reported a 300% increase in revenues during the first half of the year.

The company reported revenues of £2.4m for the six months ending June 30, 2015, a rise of more than 300% when compared with revenues during the same period last year – £700,000.

The company also recorded a 25% increase in room stock to over 800 hotel rooms, with plans to roll out a further 150 new rooms for 2016.

Lorcán Ó Murchú, chief executive of the company, said: “Snoozebox continues to make solid progress, growing revenues, gross profit and contribution to overhead. We have broadened our product offering and strengthened our operating model, in line with our strategy to position the business for sustainable long-term growth.”

He said that demand for the company’s unique, high-quality offering remains high, both from the UK and overseas.  

“With greater visibility, clear growth prospects and an executable event model, our focus in the second half of the year will be to build on the strong foundations we now have in place, investing in further improving and growing the core business, as well as expanding into new sectors and markets.”