In its latest trading update, The Coaching Inn Group revealed that its turnover had risen to £24.7m over the past 12 months – a £4.7m increase on the previous year.
Additionally, the operator, which specialises in transforming historic venues in prominent market town locations, saw like-for-like sales grow by 8.3% during the same period, with weekly net sales averaging £32,200 per site across the operator’s portfolio.
While audited accounts have yet to be produced, the group forecasts a 52% increase in underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) to £3.2m, an increase of just over £1m in 2018, as well as site EBITDA growth to £5.7m representing an annualised average of more than £385,000 per site.
After growing its estate to 15 sites and 431 bedrooms in 2018 with the acquisition of the Swan Hotel in Stafford at the end of June, The Coaching Inn Group has unveiled plans to spend a further £750,000 in the next three months to refurbish the Feathers Hotel in Ledbury and the Talbot Hotel in Oundle.
The operator’s impressive year was recognised at The Publican Awards 2019 where it was a finalist in the Best Accommodation, Best Food Offer and Best Pub Employer (501+ employees) categories.
The Coaching Inn Group’s chief executive officer Kevin Charity explained: “It’s been another excellent year for the company and we have achieved a great deal over the past 12 months building on our investment in the estate and our team over the past four years.
“We are delighted with the progress we have seen in terms of profitability as well as the strong underlying performance from our core estate as seen in our like-for-like sales.
“We had the benefit of a good summer, which helped drive 8.5% like-for-likes during the period to September, but particularly pleasing was the 8% like-for-like improvement seen from October to March, which is really down to the consistency of offering carried out by our teams and a great reflection of the stability and balanced nature of our business model.”