A number of refurbishment projects undertaken at hotels within the Calcot Collection did not put guests off visiting last year, despite the ‘disruptive’ works having an impact on revenues and increased costs.
According to the latest filings on Companies House, the group, which comprises three hotels and a pub in the Cotswolds and a hotel in Northumberland, completed several refurbishments in the early part of 2018, which required partial closures to the hotels, but occupancy rates continued to improve across the portfolio.
Barnsley House, the Village Pub, Calcot, The Painswick and Lord Crewe Arms also saw an increase in dining numbers.
For the year ended 31 December 2018, turnover for the group rose to £17,118,627 from £16,608,399, while profit before tax was £199,239 compared to £489,287 in 2017.
Richard Ball, chairman of the Collection told BH that the fall back in profits was ‘anticipated’, with more work in the pipeline for the coming winter.
“Underlying demand for the hotels remains strong,” explains Ball, “with record RevPARs achieved in most areas outside the closure periods.
“Additional rooms are planned for Lord Crewe Arms in the current year to meet demand, and planning for further development at Calcot is being submitted.”
The statement accompanying the submission on Companies House said that the directors are focused on investing in training and development to ‘mitigate’ the recruitment issue facing the whole industry.
Ball added: “Long term investment in training and development has improved retention, and the management team are positive about short and long term prospects despite the uncertainty in the economic environment.”
Calcot first opened in 1984 and the group has since grown to encompass Barnsley House, the Village Pub and The Painswick in the Cotswolds and Lord Crewe Arms in the Northumbrian Pennies.