Turnover at The Pig’s parent company Home Grown Hotels increased to £20.8m in 2017, with occupancies across the five-strong Piggy litter continuing to rise.
In the latest accounts filed on Companies House, turnover for the group owned and operated by Robin Hutson rose from £17.1m in 2016 to just over £20m for the year to 31 December 2017.
Operating profit increased by £1m year on year, while gross profit rose to £17.2m from £14.1m in 2016.
Total comprehensive income for the year was £3.1m.
Average occupancy grew to 93%, marginally up from 92% on the previous year, with average restaurant covers rising to 781 from 664 in 2016.
Home Grown Hotels is owned and operated by Robin Hutson and his wife Judy, and consists of five Pig properties, with a further three hotels to launch over the next year.
The accounts also highlighted the impact of The Pig at Combe’s first full year of trading, with turnover increasing 22%.
Minimal pre-opening expenditure was incurred during 2017 which has resulted in the operating profit for the group increasing by £1m from £983k on the previous year.
Robin Hutson said in the filing: “Going into 2018 demand is still strong with several new hotels in the pipeline.
“The principal risks and uncertainties facing the group are broadly grouped as liquidity risk, interest rate risk, credit risk and price risk.”
Total employees for the company is 446 with wages in 2017 amounting to £7.4m
The first Pig hotel opened in Brockenhurst in 2011 and was followed by four more in Southampton, Bath, Studland Bay in Dorset and the latest addition in Combe Devon, which launched in 2016.
The brand is set to expand into Canterbury, Arundel and Padstow over the next 18 months.