The Pig's parent company reports annual turnover of £4.5m

03 October 2014 by
The Pig's parent company reports annual turnover of £4.5m

Turnover for 2013 was £4.58m, up from £3.64m the previous year, according to the latest director's report and financial statements lodged at Companies House.

The company, which during 2013 was involved in refurbishing Hunstrete House and the Manor House hotel - opening as the Pig near Bath in March this year and the Pig on the Beach in Studland Bay, Dorset, in July respectively - recorded a pre-tax loss of £140. Both hotels, said the report, are already exceeding expectations.

Occupancy at the original 26-bedroom Pig hotel, near Brockenhurst, in the New Forest, peaked at 98% in July and August, with an average occupancy across 2013 of 93%, up from 90% in 2012. Restaurant covers reached a high of 182 in August, and an average of 162 throughout the year, compared with 146 in 2012. Meanwhile, turnover increased to £4m during 2013, up from £3.64m the previous year, with EBITDA at £1.07m (2012: £900,000).

Robin Hutson, director of Home Grown Hotels, writing in the report on behalf of the company board, said: "Behind these excellent statistics lies the ability of the hotel's management to efficiently handle such large numbers."

The 12-bedroom Pig in the Wall enjoyed a healthy first year of trading, generating revenue of £600,000 and EBITDA of £130,000. Average occupancy for the hotel was 74%, with a peak of 90% in August. Its deli counter, which serves breakfast and a limited selection of charcuterie boards, salads and wine throughout the day, had an average of 71 visits per day, with a high of 94 in September.

Home Grown Hotels was founded in 2011 with the launch of the first Pig hotel in the New Forest.

Business profile: The Pig hotels >>

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

Robin Hutson's latest project, the Pig >>

TagsFinance and Hotels
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