Edinburgh hotels:'Ambitious' Apex wants hotel group to be expanded
Monday, November 6, 2023
Apex, which owns hotels in Bath, Dundee, Edinburgh, Glasgow, London and Pitlochry, returned to full-profit profit for the first time since the pandemic began at the end of April 2022, a time when commerce had been rampant without
rules Operational profit of £14.5m was up on last year's £2.9m.
"experienced a significant increase in demand across all our hotels, from both the corporate and leisure markets" - Angela Vickers
The hotelier made a remarkable acquisition in this respect recently by purchasing Pine Trees Hotels in Pitlochry when it seemed it would be a step towards taking the Apex brand into more rural locations.
It represents the first stage of a portfolio expansion strategy in a strategy geared towards popular British targets.
A previous survey published early October by the Scottish Licensed Trade Association found that 57% of outlets reported a year-on-year drop in their operating results.
The success it has seen this year, together with Barclays funding, means Apex intend to purchase more properties.
"built upon strong foundations in 2022, with a renewed confidence in the market as demand from our UK and international guests returns" - Angela Vickers
In its balance sheet, Apex says the Group "remains in a strong strategic position, with a wide geographical spread across key cities within the UK" and adds that "now made its first move into developing a rural proposition to widen our
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