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The Coaching Inn Group has announced it is plotting further growth after it reported a 29% increase in sales in its last financial year.
The company, which comprises 10 regional hotels, reported a 60% rise in profits in its last financial year to March 2016, with the group reporting turnover of £13m – up from the £10m recorded the previous year.
The group also announced earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 35% to £2.7m throughout the year, while food and beverage sales accounted for 69% of the company’s turnover.
Edward Walsh, group finance director, said: “We continue to see benefits, both from our acquisitions and our investment in established sites, particularly in relation to our hugely popular Eatery and Coffee House concept.
“We’re ahead of our acquisition plan, with four new sites acquired in the past 12 months and with terms agreed on a further two sites, we’re on track to reach our target of 15 sites before the end of the year.”
The company has also completed major refurbishment projects at the White Hart in Boston, Royal Oak in Welshpool and Three Swans in Market Harborough, delivering over 50% return on capital invested.
Walsh said the company will continue to roll out the “extensive” investment programme across its portfolio.
