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The Coaching Inn Group has doubled its profits and increased turnover to over £10m as its extensive investment programme continues.
In its audited accounts for the last financial year, the recently renamed group – previously Bulldog Hotels – saw turnover to March 2015 reach £10m, a 22% increase on last year’s figure of £8.3m.
Pre-tax profit for the company climbed to £510,000 from £271,000 the previous year.
Across the group’s seven coaching inns operated in the last financial year, site level earnings before interest, taxes depreciation and amortisation (EBITDA) reached £2m – an average of £285,000 per site – with food and beverage accounting for 68% of revenue.
Edward Walsh, finance director, said: “We’ve seen excellent growth across the estate, with investments at the Old Bridge, Holmfirth and the Three Swans, Market Harborough in particular helping to drive turnover over £10m.
“The resulting growth in site level profitability has been key in helping us to secure further external investment and gives us a strong platform for the next stage of our development.
“With the completed acquisition of the Royal Oak in Welshpool and two further sites expected to complete in October, we remain ahead of our acquisition target for the year as we aim to double the size of the estate before the end of 2018.”
The results follows the launch of the group’s fast-track training programme, which will see the firm’s staff undertake an intensive six months of training, covering operations, food and beverage, conference and banqueting, along with learning skills in sales, personnel, finance and leadership.
