The company, founded and chaired by Rooney Anand, reported strong results from it’s premium rooms operation, Coaching Inn Group, with sales up 7%, while the independent pubs arm saw increases of 6.2%.
Total sales for the entire business for the first quarter (April to June) were at £32.7m with Coaching Inn Group accounting for £19.1m, while the pubs division took £13.6m.
RedCat Hospitality CEO Richard Lewis said the results were “encouraging” despite the challenges the sector faced.
Challenging headwinds
He continued: “The hard work we have undertaken in the past 14-months to invest in and strengthen the business is really paying off, as these latest figures show.
“Despite the challenging headwinds, which continue to affect the sector as a whole, like-for-like sales for the first quarter of this financial year are up 6.7% across the group (to £32.7m)."
Lewis added the accommodation side of the business had performed “very strongly”, reflecting the businesses strategic focus and investment in growth and revenue management.
“By strengthening resources and expertise in this area, we are seeing clear rewards: room sales are up +8% on a like-for-like basis, across the whole group.
“The success of our capital investment programme is coming through strongly in this first quarter’s performance.
Capex success
“Since reopening in April, following an extensive £3m refurbishment, the 42-room Castle of Brecon Hotel in Powys has enjoyed a 94% uplift in overall sales.
“This mirrors the strong results seen at other sites, which have benefited from our investment programme in RedCat Independent Pubs over the past 12 months, including The Bull in Barton Mills, The Wig & Mitre in Lincoln and The Crown Inn, The Curzon Arms and The Langton Arms in the Leicestershire area”.
These investments have together posted a 20.3% increase in like-for-like sales over the period, helping RedCat Independent Pubs achieve 6.2% LFL growth overall, the CEO said.
“I am very pleased to be reporting these positive results for our business. They are a testament to the hard work from our team in helping deliver such a stellar performance.”
