Market town hotel, restaurant and coffee shop operator the Coaching Inn Group has reported a 24% increase in sales in the year to 31 March 2019.
Turnover reached £24.7m, up from £20m the previous year, following a 8.3% increase in like-for-like sales that saw average weekly revenue per site hit £32,200.
As a result, the company, which has 431 bedrooms across 15 sites, forecast a 52% increase in underlying EBITDA to £3.2m.
CEO Kevin Charity said: "It's been another excellent year for the company, and we have achieved a great deal over the last 12 months building on our investment in the estate and our team over the last four years. We are delighted with the progress we have seen in terms of profitability as well as the strong underlying performance from our core estate as seen in our like for like sales.
"We had the benefit of a good summer which helped drive 8.5% like for likes during the period to September, but particularly pleasing was the 8.% like for like improvement seen from October to March which is really down to the consistency of offering carried out by our teams and a great reflection of the stability and balanced nature of our business model."
Coaching Inn Group has also announced plans to invest £750,000 into its estate, including the refurbishment of the Feathers Hotel in Ledbury and the Talbot Hotel in Oundle.Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).