Turnover at the group behind luxury hotels in London and New York edged to almost £200m during its latest financial year, it has been revealed. Firmdale Hotels, which was founded by Tim and Kit Kemp, has reported a turnover of £198.1m for the year to January 31, 2024, according to newly-filed accounts with Companies House .
It comes after the group, Firmdale Holdings, posted a turnover of £192.5m for its prior 12 months. However, the group’s pre-tax loss widen in the year from £2.
4m to £2.8m. The group’s London hotels include the Covent Garden Hotel, the Charlotte Street Hotel, the Soho Hotel, the Haymarket Hotel, the Ham Yard Hotel, Number 16 Hotel, the Dorset Square Hotel and the Knightsbridge Hotel.
In New York it owns and operates the Crosby Street Hotel and the Whitby Hotel. The group opened a third hotel in February 2024 close to the World Trade Centre. The group generated a turnover of £133.
9m from the sale of rooms and apartments, up from £129.6m while its food and beverage turnover increased from £56.2m to £58.
4m. Its UK turnover rose from £120.9m to £125.
3m and its turnover in the rest of the world edged up from £71.6 to £72.7m.
During the year the average number of people employed by the group grew from 1,558 to 1,656. A statement signed off by the board said: “The UK economy in 2023/24 was characterised by stagnant growth with significant rises in the cost of living putting pressure on disposable incomes and corporate budgets alike. “Continuin.