The Coaching Inn Group has doubled its profits and increased turnover to over £10 million as its extensive investment programme continues.
Reporting its audited accounts for the last financial year, the recently renamed Group – previously Bulldog Hotels – saw turnover to March 2015 reach £10,065,972, a 22% increase on the previous year’s figure of £8,283,773.
Operating profit before exceptional deal costs more than doubled from £388,500 to £800,000 and pre-tax profit climbed to £510,000 from £271,000 the previous year.
Across the Group’s seven quality coaching inns operated in the last financial year, site level EBITDA reached £2 million – an average of £285,000 per site – with food and beverage accounting for 68% of revenue.
Platform for next stage of development
Finance Director Edward Walsh comments: “We’ve seen excellent growth across the estate, with investments at the Old Bridge, Holmfirth and the Three Swans, Market Harborough in particular helping to drive turnover over £10 million. The resulting growth in site level profitability has been key in helping us to secure further external investment and gives us a strong platform for the next stage of our development.
“With the completed acquisition of the Royal Oak in Welshpool and two further sites expected to complete in October, we remain ahead of our acquisition target for the year as we aim to double the size of the estate before the end of 2018.”
The Coaching Inn Group operates individually styled coaching inns, each with an all-day offer, across the UK and has built a strong reputation in the industry for transforming underperforming establishments into busy and profitable businesses.