Signature Living reports £20m turnover

Hotel company Signature Living has reported turnover of £20.7m in its latest financial results as well as a return to the black.

In its results for the year ended 31 March 2018, the group reported the turnover increase on last year's £14.1m as well as pre-tax profits of £1.1m against losses of £5.3m last year.

Owner Lawrence Kenwright said in documents filed with Companies House that the group reaped the benefits of the post-Brexit referendum fall in sterling and increase in staycations in the UK, and that visitor numbers in Liverpool, where several of the group's businesses are located, have increased.

The group operates a hotel and apartment portfolio valued at more than £350m, including 30 James Street and the Shankly hotel in Liverpool (which the group announced in May that it intends to sell for £57m to fund expansion plans); the Arthouse and Signature hotels, also in Liverpool; and the Exchange hotel in Cardiff (pictured).

Signature Living said it would open six hotels by the end of the year, including Loyola Hall (St Helens), the Dixie Dean hotel (Liverpool), the Shankly hotel (Preston), Cavern Walks hotel (Liverpool), and the Wareing hotel (Belfast).

The group announced last month that the George Best hotel in Belfast, originally planned for June 2018 and then pushed back to 2019, has been delayed due to "unforeseen building works". Employees taken on ahead of the opening have been offered opportunities at other Signature Living hotels or are being "compensated accordingly".

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