The group behind the Hope Street Hotel in Liverpool has reveals its ambitious plans for expansion after posting strong year on year growth for 2015.
According to its latest set of accounts, Hope Street Hotel Ltd, which also owns the London Carriage Works restaurant, has seen its turnover increase by 2.8 per cent to £4.4m in 2015 from January to December. Hotel room sales increased 2 per cent, while food sales went up 3.9 per cent and beverage rose 2.8 per cent.
Pre-tax profits rose by 2.5 per cent to £776,892.
The four-star boutique hotel also posted strong occupancy results, with an increase to 77.6 per cent in 2015, compared to 76.8 per cent the previous year.
This encouraging set of figures has prompted the company’s directors to think about expansion.
In a strategic report accompanying the accounts, the directors said: “In the coming years, the business intends to invest heavily in the expansion of the hotel. The expansion will include additional rooms, serviced apartments, swimming pool and spa.
“The business already has a cash surplus to finance the project and further borrowings with the bank have already been investigated to help finance the project.
“The expansion of the hotel aims to keep Hope Street Hotel Ltd at the forefront of the boutique hotel market in Liverpool, allowing expansion into new markets as the current market becomes more competitive within the city. The project is scheduled to commence in late 2016 or early 2017, there is currently no scheduled completion date.”