Pre-tax profit at luxury five-star hotel The Bath Priory has surpassed the £1m mark, according to the latest results posted from the venue.
With turnover increasing also, the hotel’s owners, Andrew Brownsword and his wife Christine, are confident that the business will finish the year on a high and is well placed to continue competing in the leisure sector, despite the challenging market conditions.
Accounts filed for the year to 31 December 2013 revealed pre-tax profit of £1.2m at The Bath Priory Ltd, up from £876,190 a year earlier. Turnover also increased to £15.5m from £14.3m.
Bought by the couple in 1994, the original hotel building was constructed in 1835 as a private residence on land owned by The Priory of Bath Abbey.
The historic property first foray into hospitality was in 1969 as a seven-bedroom hotel, but now has 33 bedrooms, an indoor leisure complex and swimming pool and restaurant run by Michelin-starred chef Sam Moody.
The Bath Priory is part of Brownsword hotels collection, comprising six luxury venues and six Abode city hotels.
Turnover at Andrew Brownsword Hotels Ltd rose moderately to £17.2m in the year to 31 December 2013, from £17.1m a year earlier. Pre-tax losses were narrowed to £709,856 from £733,726 in 2012.
Jason Carruthers, chief executive of Andrew Brownsword Hotels, told Insider: "We’re pleased with the 2013 figures across the group, with most hotels continuing to trade strongly in both accommodation and food and drink sales.
"Our ABode properties continue to offer great value for money in UK destination cities, while significant refurbishments to our luxury portfolio, notably at Amberley Castle and Buckland Manor, have also helped to maintain rate levels."