Apex Hotels has narrowed its losses substantially as it recovers from the worst of the coronavirus pandemic.
Annual accounts also show substantial improvements in revenue and occupancy metrics. It said there had been a strong return of domestic leisure and business guests when virus restrictions were relaxed. International visitor numbers also improved towards the end of the 12-month trading period to April 2022.
Apex has nine four-star properties around Britain in Edinburgh, Dundee, Glasgow, London and Bath. The hotels group’s pre-tax loss was £2.7 million, compared with a £16.4 million loss in the previous financial year. Turnover was £47.3 million, up from only £8.1 million, and the number of rooms sold rose almost fourfold to more than 277,000, with occupancy rising from 13.8 per
