Apex Hotels is celebrating an increase in occupancy as the group has returned to profit.
The family firm, which operates Apex City Quay Hotel, was badly hit by Covid-19 restrictions.
It made an operating loss of £11.2m in 2020/21 but has now bounced back to profit.
With fewer operating restrictions, Apex Hotels made an operating profit of £2.9m last year.
Resilient Apex back in profit
The group says it is confident in the future and is planning investments.
Chief executive Angela Vickers said: “The results reflect that after a difficult period for the sector, we are emerging as a more resilient company.
“We can look to the future with renewed positivity and optimism.
“Apex continues to evolve, developing our brand around high-quality service and sustainability.
“Against the backdrop of an uncertain economic outlook, rising inflation and the cost-of-living crisis, we are working hard to keep our costs down and to offer value to our guests.
“We look forward to the challenges and opportunities ahead, delighting guests every day and maintaining our strong market position.”
Apex Hotels investments
Apex Hotels has nine premises. In 2020/1, it recorded sales of just £8.1m.
However, last year this increased almost six-fold to £47.3m.
Occupancy for the year averaged 51.4%, rising to 64.3% in the final quarter, bringing a strong finish to the financial year.
Domestic demand was driven by growth from both business and leisure guests, boosted later in the year by the return of international travellers.
With renewed confidence in trading, the group focused on strategic priorities.
It is investing in technology to optimise back-office infrastructure and streamline the guest experience.
This includes the launch of the Apex Hotels & Rewards app.
Apex Hotels’ Dundee restaurant was named one of the most Instagrammable in the UK last year.
Staff at the Dundee city centre hotel also managed to achieve a guest’s bizarre request for Rangers FC memorabilia in their room.
In an annual tradition, Apex staff supply hampers for families in need in the run up to Christmas.
Last year, it doubled the quantity of hampers it produced, to mark its upcoming 20th anniversary in Dundee.
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