Dawnay Shore Hotels on track to have 4,000 rooms within five years

05 April 2006
Dawnay Shore Hotels on track to have 4,000 rooms within five years

Paramount Hotels owner Dawnay Shore Hotels (DSH) is on track to achieve its target of 4,000 rooms within five years.

Currently at 2,700 rooms, DSH confirmed it is looking for another hotel group to add to its portfolio and will also consider "opportunistic" single asset deals in strategic locations to add to its Paramount Signature range.

The company will continue its programme of adding rooms through its existing portfolio, with 300 in the pipeline over the next two years.

Since the Paramount takeover two years ago the group's portfolio has increased in value by 17%

DSH said turnover for the year ended 1 January was £86.9m (2005: £85.6m), with operating profit of £33.1m up slightly on £32.1m for the same period the previous year.

A spokesman for DSH said although the group had borrowed heavily to pay for its rapid expansion, repayments had been lowered and its banks remained supportive due to the fast increasing value of its properties and the steps it had taken to guard against interest rate rises.

  • Alternative Investment Market-listed investment company, The Hotel Corporation, which owns 49.9% of DSH, reported turnover of £2.06m for the year ended 31 December 2005, with an operating profit of £1.8m. However, investment gains took total profit before tax to £11.5m.

By Emily Manson

Get your copy of Caterer and Hotelkeeper every week -

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking