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Apex Hotels Ltd has reported a 21% increase in group revenue for the year to 30 April 2025, driven by recent acquisitions and stronger trading across its existing estate.
The hotel group said revenue growth reflected the expansion of its portfolio over the past 18 months as well as improved performance at established properties.
On a like-for-like basis, excluding acquisitions, revenues rose by 7% year on year, supported by higher room occupancy and increased yields.
Operating profit also rose by 4% to £13.6m, although the group stated that profit conversion was affected by weaker winter trading at assets acquired during the latter part of the year.
However, according to Apex Hotels, these properties are expected to benefit from refurbishment and repositioning over the coming year.
It had maintained a focus on cost control and operational efficiencies, helping to offset inflationary pressures and integration costs linked to acquisitions.
Additionally, during the financial year, Apex Hotels acquired The Vineyard Hotel, a five-star country house hotel and spa in West Berkshire, which now sits within its Monogram Collective portfolio.
It also bought the DoubleTree by Hilton Dunblane Hydro, which has since been rebranded as the Apex Dunblane Hydro.
Alongside acquisitions, the group continued to invest in its existing estate. Refurbishment projects were completed at Pine Trees Hotel in Pitlochry, part of the Monogram Collective, and at the Apex Waterloo Place in Edinburgh.
The group did not provide a financial outlook but stated that planned investment in its newer assets would support performance in the year ahead.
Ian Springford, chairman of Apex Hospitality Group, said: “The last two years have been pivotal in reshaping the portfolio and laying the foundations for future growth. Our core Apex Hotels brand continues to perform, despite the tough trading conditions, and we are delighted to add the Apex Dunblane Hydro to the portfolio.
“And with the acquisition of Meldrum House Country Hotel at the end of last year, together with The Vineyard hotel in Newbury, we extend our guest offering by bringing together destination rural properties under the Monogram Collective brand.”
