The hotel developer behind the redevelopment of the Coal Exchange in Cardiff and The George Best Hotel in Belfast has posted record profits.
The Signature Living Group has generated pre-tax profits of £5.8m for the year to 1 April 2016, up by 262 per cent year on year. Founded in Liverpool by Lawrence and Katie Kenwright in 2008, the group has expanded rapidly in recent years.
In May 2017, Signature Living opened first phase of its new 200-bedroom Exchange Hotel in Cardiff Bay. The company owns four hotels in Liverpool, including the Shankly Hotel inspired by legendary former Liverpool FC manager Bill Shankly and the Titanic themed 30 James Street.
In Belfast, the Signature Living Group has purchased the city’s famous Crumlin Road Courthouse and plans to turn it into a new hotel and tourist attraction, while the Scottish Mutual Building will become a luxury hotel. Signature Living Group chairman Lawrence Kenwright said: “This is a phenomenal set of results, with all of our hotels, restaurants and bars making a strong contribution. Signature Living has experienced remarkable growth, and our investors, stakeholders and hardworking employees are delighted with the results. “Over the next 12 months, our focus is firmly on the expansion of our hotel portfolio. We will seek every opportunity to increase profitable turnover even further than our projected £20m.”
According to newly filed accounts at Companies House, Signature Living Hotel’s turnover climbed by 32 per cent to £8.3m in the year ending 31 March 2017. Pre-tax profits increased by 254 per cent to £5.6m over the same period.
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