Dorchester Collection achieves nearly 40% growth in pre-tax profits

08 October 2014 by
Dorchester Collection achieves nearly 40% growth in pre-tax profits

An occupancy rate of 72% across Dorchester Collection's group of 10 hotels helped boost the company's pre-tax profits by 39.3% to £36.8m, during 2013.

While the occupancy rate for the group which operates three hotels in the UK - the Dorchester and 45 Park Lane in London and Coworth Park in Ascot - was up from 69% in 2012, average room rate increased from £518 to £535 and revenue per available room rose from £359 to £386 during the same period. Annual turnover for 2013 was down to £302m from £304.5m in 2012, when the group received a boost from the London Olympics and the Queen's Golden Jubilee celebrations.

The year-on-year figures are not directly comparable as room availability was reduced with the closure for refurbishment of Hotel Plaza Athenee, Paris, at the end of September 2013 and the removal of 100 rooms at the Hotel Principe di Savoia, Milan, following the relinquishment of leased premises.

The directors' report highlights the group's intention to grow the portfolio, which is currently located in Paris, Geneva, Rome, Milan, Beverly Hills and Los Angeles, as well as the UK.

"The primary objective of the group is to become the 'ultimate' hotel operating and managing group in the luxury hotel market in regions where the group has a presence," it said.

During 2013, Dorchester Collection donated £76,000 to charities.

Dorchester Collection responds to boycott of its hotels by celebrities >>

TagsFinance and Hotels
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