Pub group Young’s has reported a 1.3% rise in occupancy within its hotels business, bolstered by a roll out of boutique bedrooms across half its estate.
The group’s room stock also increased to 487 rooms, after opening 12 bedrooms at its latest venture the Hand and Spear in Weybridge, as chief executive Patrick Dardis said that the group will plough on with its “winning strategy”.
While the new-look boutique bedrooms struck a chord with consumers, RevPAR maintained at £63.80, compared with tough comparatives created by last year’s Rugby World Cup.
The results come as the group reported an 8% rise in revenue to £136m for the 26 weeks to the end of September. Pre-tax profits increased 11% to £22m, leaving Dardis to state that he was “very pleased” with the results.
He also recognised the challenges that lie ahead – with Brexit and the impending National Living Wage – but was determined to invest in the brand’s existing estate, acquire new pubs and develop its people.
“We have a proven strategy and an outstanding and well-invested estate, we also have the financial and management capacity to grow and there is real energy in our people across the business to take Young’s forward. We therefore feel confident about the future,” Dardis added.