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Apex Hotels Build Strong Financial Position Following Growth In FY23

press
#Business
Apex Hotels Limited, the family-owned four-star hotel group, has posted strong FY23 results following a period of exceptional growth, as demand from both business and leisure guests continues to build.

Apex Hotel’s statutory accounts for the 12 months ending 30 April 2023, show a 58% increase in turnover from £47.3m FY 2022 to £74.8m FY 2023, and an operating profit of £14.5m up from £2.9m in the previous year. The latest set of accounts demonstrate a continued period of growth for Apex Hotels following a return to profit last year.

Following the sale of Apex London Wall Hotel and a five-year refinancing deal with Barclays worth over £60m, the group is on the acquisition trail, purchasing its first rural property - Pitlochry’s Pine Trees Hotel - back in July. The acquisition is part of an ambitious expansion plan targeting popular UK destinations.

Apex Hotels, Chief Executive, Angela Vickers said: “This year we have built upon strong foundations in 2022, with a renewed confidence in the market as demand from our UK and international guests returns.

Our ambitious acquisition strategy will help diversify and expand our portfolio, delivering more choice through a wider range of destinations for our guests.

This year we have successfully matched revenue and occupancy growth with a healthy profit margin, allowing us to sustainably re-invest in the business and our people. This includes doubling down on our effort to build a sustainable, community focused organisation through our ESG strategy.

We look forward to a strong year ahead as we continue to expand the business and grow our market position as one of the UK’s leading independent 4-star hotel groups.”

Ends

About Apex Hotels  

Apex Hotels is a family-owned 4-star hotel group with chic city centre and rural properties. The company owns eight city centre hotels in some of the UK’s most popular destinations - London, Bath, Edinburgh, Glasgow, and Dundee - and one rural hotel perfectly placed in Pitlochry.

 Apex Hotels was founded by Scottish entrepreneur Norman Springford who opened his first property in 1996, Apex Grassmarket Hotel in the heart of Edinburgh’s Old Town. Since then, the group has grown into one of the UK’s leading independent hotel groups, attracting tourists and corporate guests from across the globe.  

Apex Hotels first country property, Pine Trees Hotel in Pitlochry, was acquired in July 2023, and represents the first phase of a portfolio expansion strategy targeting popular UK destinations.

As well as offering consistently high standards for business and leisure guests, Apex Hotels has a committed approach to environmental and sustainable tourism practices and is one of the few independent hotel groups to hold Silver Green Tourism Award’s in all city centre hotels.

 City Centre Hotels:   

Apex Grassmarket, Edinburgh   

31-35 Grassmarket, Edinburgh, EH1 2HS   

    

Apex City of Edinburgh, Edinburgh   

61 Grassmarket, Edinburgh, EH1 2JF   

   

Apex Waterloo Place, Edinburgh   

23-27 Waterloo Place, Edinburgh, EH1 3BG   

   

Apex City of Glasgow, Glasgow   

110 Bath Street, Glasgow G2 2EN   

 Apex City Quay Hotel & Spa, Dundee   

1 West Victoria Dock Road, Dundee, DD1 3JP   

 

Apex City of London, London   

1 Seething Lane, London EC3N 4AX   

      

Apex Temple Court, London   

1-2 Serjeants’ Inn, London EC4Y 1AG   

   

Apex City of Bath, Bath   

James Street West, Bath BA1 2DA   

  

Rural Resorts and Hotels:   

 Pine Trees, Pitlochry

Strathview Terrace, Pitlochry, PH16 5QR

 

 

 Restaurants, Bars & Spas:  

London   

Edinburgh   

Dundee   

Bath   

Glasgow   

Lazy Ballerinas  

Agua  

Quayside Bar & Grill   

The Orange Artichoke   

The Lounge   

The Lampery, Seething Lane 

Metro  

Yu Spa   

   

   

   

 

Elliot's  

   

   

   

  

Yu Spa  

  

   

   

   

   

FURTHER INFORMATION   

For all press enquiries please contact James Walter: James.Walter@apexhotels.co.uk

Apex Hotels On Track With Ambitious Growth Plans In UK Market
Apex Hotels CEO Angela Vickers Honoured with HIT Industry Award

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