The figure marginally surpassed the group’s original forecast, with larger units in key locations such as London, Edinburgh, and European capitals continuing to perform well.
The operator of Belushi’s and St Christopher’s Inns achieved profit before tax of £5.6m, up from £3m the prior year.
Belushi’s won the the Best for Sport category in the Great British Pub Awards in 2019.
Pent-up demand
The operator further reported accommodation revenues remain strong and occupancy consistently high. Pent-up demand from the previous year – resulting from Covid restrictions – helped the group build strong momentum going into FY24.
Despite increases in labour and energy costs, full-year earnings before interest, taxation, depreciation and amortisation (EBITDA) stood at £8.2m, in line with forecasts. The real-time yield management system continues to optimise occupancy and net bed rates to ensure competitiveness across markets.
More recently in FY25, there has been an industry-wide reduction in European net bed rates as competition from south-east Asia attracted cost-conscious customers, according to Beds & Bars’ latest accounts on Companies House.
New customer behaviours
The group is also seeing new customer behaviours emerging within Gen Z travellers – offering opportunities to tailor services and capture new demand – and is confident in its ability to navigate the evolving landscape.
It sees continued interest in European travel in the long term and a growing desire for unique experiences among its target demographic.
Beds & Bars is well positioned to capitalise on expansion opportunities, with a year-end cash balance of £4.2m and a trusted banking partner in HSBC, according to the accounts.
Gross term debt reduced by £3.2m.
