Firmdale, the boutique hotel group from Tim and Kit Kemp, has seen turnover reach a record £162m, an increase of 9.2% on its last financial year.
Revenue for the group’s London properties, including Ham Yard and Haymarket Hotel, increased 4.7% to £106.8m, with a business mix of 60% from rooms, 38% from food and beverage and 2% from other sales in the year ending January 31 2019.
Rooms yield rose 5.3% overall driven by increases in both occupancy and room rate across the portfolio.
Combined average room rate across the London properties increased 4.1% to £382 during the year whilst average occupancy increased 1.0% point to 88.6%.
The group comprises eight London hotels and two in New York, with work on a third in the US city due to begin imminently.
The Warren Street Hotel, situated in New York’s Tribeca district will be created in a former car park and will feature 70 bedrooms across 11 stories, alongside a restaurant, drawing room, orangery, bar and private events space with Firmdale’s distinct interiors created by Kit Kempt.
Firmdale Hotels was founded in 1985 by Tim and Kit Kemp and has since become one of the best loved boutique brands in the UK.