Chewton Glen, the exclusive country house hotel in Hampshire, has seen its revenue increase by £1m – a 6.6% rise on the previous year – in the property’s latest results filed on Companies House.
The luxury hotel, which is operated by Iconic Luxury Hotels, posted its financial figures for the year ending 31 March 2017, which saw the business report growth across all its major segments.
Total revenue rose to £16.3m, up 6.6% on 2016, while accommodation grew 7.2%, food and beverage 4% and spa 8.7%.
Hotel occupancy increased 1%, room rate saw a growth of £25.25, contributed to by the refurbishment of, and investment into seven hotel bedrooms, and there was a RevPAR rise of £15.22 (7.5%).
The report highlighted that costs continued to be well controlled and the higher revenue resulted in EBITDA of £4.4m for the year, compared to £4.1m for the previous year.
The following 12 months are expecting to bring another boost to the hotel’s financial position, with the induction of a cookery school in April 2017 and new casual dining experience added to the facilities.
Chewton Glen recently opened its epic two-bedroom treehouse late last year to join the current six treehouses which were first built in 2011.
In the report, the hotel also identified the increase in competition in the upper luxury hotel market segment as a potential risk to the business, while the continued economic uncertainty surrounding Brexit could also impact trading.