Hastings Returns to Profit

Hastings Hotel Group last year returned to a pre-tax profit of £679,674 (€786,977).

New accounts lodged by Northern Ireland Hastings Hotels Holdings Ltd show that the group returned to profit after revenues increased by 11pc from £25.12m to £27.99m in the 12 months to the end of last October. The hotel business was impacted by Covid-19 over the two years and last year’s revenues were down sharply on the pre-Covid-19 revenues of £49.37m recorded in 2019.

The group’s hotels include the Europa Hotel, the Grand Central hotel and the Culloden Estate and Spa in Belfast. The hotels reopened for business on May 24, 2021 as Covid-19 restrictions eased.

"Following a turbulent number of years for all businesses, particularly those in the tourism industry, we are pleased to report we are on track in our post Covid recovery," Hastings Hotels Finance Director Peter Gibson said.

The pre-tax profit takes account of interest payments of £1.1m and non-cash depreciation costs of £5.6m.