The Pig records 90% occupancy and £3.6m turnover during 2012

17 October 2013 by
The Pig records 90% occupancy and £3.6m turnover during 2012

Home Grown Hotels - parent company of the Pig - one of the most successful new openings in the past two years - recorded a turnover of £3.6m during its first full year of operation.

The directors' report for the 2012 annual accounts, lodged at Companies House, noted that with an operating profit of £428,128 and EBITDA of £900,000, the business has gone "from strength to strength".

The financial success of the 26-bedroom Pig in Brockenhurst, Hampshire, which launched in July 2011 and was joined by the 12-bedroom Pig in the Wall in October 2012, was driven by an average occupancy of 90%, peaking during the year at 96% in August and October.

Average daily covers in the restaurant during 2012 was 146, with a high of 163 in August.

"Behind these excellent statistics lies the ability of the hotel's management to efficiently handle such large numbers," said the directors, headed by Robin Hutson.

Towards the end of 2012 Home Grown Hotels acquired the Manor House hotel in Studland, Dorset, on a leasehold basis from the National Trust for around £3m. The original 23-bedroom property is currently undergoing renovation and expansion and will will re-open as the Pig on the Beach in spring 2014.

In the current financial year, Hunstrete House, a former Von Essen hotel, was acquired by the the company in May for £5m. Following a refurbishment, the newly named Pig near Bath - Home Grown Hotel's fourth property - will be launched early next spring.

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TagsFinance and Hotels
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