Room rate rises and occupancy increases at Fuller, Smith & Turner’s hotel rooms have helped the pub group to achieve a 6% revenue rise.
In the six months to 1 October, the firm said room sales in its managed pubs and hotels rose 10.8%, while the average room rate also jumped 4%.
By the end of the current financial year, the company will have 612 rooms across its portfolio, compared with 475 three years ago.
The room rate rises contributed to a 6% turnover increase to £128.2m. During the same period, pre-tax profit climbed 5% to £16.5m, from £15.7m in 2010.
Fuller, Smith & Turner added 12 pubs to its portfolio in the half year. Most recently, the group completed a £16m acquisition for five pubs in the capital, including The Wellington in Waterloo.
The company entered into a new £30m bank facility which runs until May 2015, co-terminal with the existing bank facilities. Total committed facilities are now £120m, of which £50.5m were unutilised at 1 October 2011.
joanna.bourke@estatesgazette.com
