LIVERPOOL’S Britannia Adelphi Hotel experienced a sales boom last year, according to figures published this week.
The period between March, 2008, and March, 2009, covering a large part of Capital of Culture year, saw turnover increase by 17%. Pre-tax profits would have been £1.57m, except for the fact that a large slice of £1.56m in refurbishment costs were charged to the profit and loss account.
As a result, the pre-tax figure was calculated at just £6,000.
The Adelphi is part of the 35-strong Britannia Hotels chain, based in Cheshire. Its turnover of £10.3m represents 25% of group sales. The group is led by two directors, Eileen Downey and Robert Ferrari.
In accounts filed at Companies House this week, Mr Ferrari stated: “The strategy adopted during the year has been to maintain the property in order to meet the challenges presented by an increasingly competitive market.
“The company aims to offer increasing levels of comfort and service, while maintaining its highly competitive prices and reputation for good value. Substantial investment has been made during the year, which has involved refurbishment of bedrooms and public areas and utilisation of additional conference and banqueting rooms from previously unused space in the hotel.
“The activity and interest surrounding 2008 European Capital of Culture status has contributed to the increase, while the progressive improvements have allowed the hotel to increase turnover despite the disruptive effect of the refurbishment work.”
Mr Ferrari said it was recognised that economic conditions would put a strain on the business with a chance of losing major sales accounts. But, he added, the hotel was well placed to meet the challenges of the current marketplace.
A bank loan of £13.4m is secured by a fixed charge on the Adelphi and Sachas Hotel, in Manchester.
BARRY TURNBULL
