Snoozebox announces positive trading performance update

06 November 2014 by
Snoozebox announces positive trading performance update

Snoozebox Holdings, which owns the Snoozebox hotels chain focused on racing venues, has announced a positive trading performance for the year to date.

It reported a 50% increase in room nights (from 8,400 to 13,000), an increase in occupancy rates (78% to 90%), and a 25% increase in the average revenue per room to £150.

The company said that the successful UK events circuit has had boosted the room nights sold fivefold. Advance room sales for 2015 had also been strong, with a number of racing events already ensuring sold out properties.

There has also been 160 new rooms added at Silverstone, and a 56-bedroom hotel opened at the Eden Project in October, while the company also highlighted its pipeline expectations for Aberdeen and Edinburgh.

The company also explained that its new portable hotel model, announced in April, was on track for successful development, and is expected for launch in November this year. The new model is said to make it easier for companies to move bedrooms from one event to the next, at low cost.

Snoozebox secures £15.6m finance package after reporting £1.6m loss >>

Snoozebox claims ‘turnaround' despite continued losses >>

Hotel Snoozebox signs new partnership with Silverstone Circuits >>

TagsFinance and Hotels
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