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Britannia Hotels announces an increase in pre-tax profit

Britannia Hotels has disclosed an 18% surge in pre-tax profit for the year ending on March 31, 2023.

Despite being voted the UK's worst hotel chain by Which? for the 11th consecutive year, Britannia Hotels managed to increase its profit before tax from £33.4 million in 2022 to £39.4 million in 2023.

In contrast, in its results for the year ending in March 2021, the group had reported a pre-tax loss of £9.5 million.

In 2023, the volume of sales saw a modest increase compared to the previous year, with figures rising by 31% as opposed to 300%. Meanwhile, turnover surged from £117.8 million to £154.8 million.

The total number of staff increased from 1,818 in 2022 to 2,365 in 2023, with the hotel group emphasising its commitment to 'tight controls on labor costs.'

The directors emphasised their commitment to maintaining occupancy levels and minimising costs in response to an 'increasingly competitive' UK hotel industry.

Britannia also disclosed that mitigating increased fuel costs will be a 'main focus for the year ahead.' They plan to achieve this through the implementation of monitoring systems aimed at reducing utilities consumption across all sites.

'Our energy and sustainability team focuses on reducing both water and energy consumption with initiatives like replacing existing lighting with low energy LEDs and remotely monitoring consumption of water, electricity and gas,' the group said.

Britannia operates 64 hotels across the UK and expanded its portfolio by acquiring the Midland hotel in Bradford from Peel Hotels in April of last year.

Additionally, Britannia acquired the holiday park company Pontins out of administration in 2011.