Liverpool-based Signature Living Group, the company behind hotels such 30 James Street and the Shankly, has revealed its latest financial figures, with pre-tax profits rocketing over 250% year on year.
The group has embarked on a rapid expansion project over the last few years, with news emerging over the past month of hotel developments planned for Belfast and Cardiff, backed by Signature’s record profits for 2016 / 17.
According the newly-filed accounts at Companies House, pre-tax profits for the hotel side of the business increased by 254% to £5.6m in the year ending March 31, 2017, while hotel turnover climbed by 32% to £8.3m over the same period.
For the year to April 1 2016, pre-tax profits reached £5.8m, which was up by 262% year on year.
The group has projected that turnover will surpass its target of £20m, with founder and chairman Lawrence Kenwright saying that over the next 12 months, the focus is ‘firmly on the expansion of the hotel portfolio’.
Having launched in 2008, the group now encompasses four hotels in Liverpool, with Signature Living’s most notable properties including the Shankly Hotel, inspired by former Liverpool FC manager Bill Shankly and the Titanic-themed 30 James Street.
In Belfast this April, the Signature Living Group purchased the city’s famous Crumlin Road Courthouse and plans to turn it into a new hotel with a £15m investment.
At the end of May, the group unveiled the first phase of its new 200-bedroom Exchange Hotel in Cardiff Bay.
Kenwright said: “This is a phenomenal set of results, with all of our hotels, restaurants and bars making a strong contribution. Signature Living has experienced remarkable growth, and our investors, stakeholders and hardworking employees are delighted with the results.”