A hotel operator notorious for jacking up prices at its north-east sites at peak times has posted a near-70% slump in profits.
Accounts released by Companies House yesterday show Britannia Hotels made pre-tax profits of £3.5million for the period, down from £11.4million the year before.
But turnover at the firm was up in 2012/13, at £69.78million, from £55.77million previously.
Britannia Hotels operates 44 sites throughout the UK, including the Britannia Hotel in Bucksburn, Aberdeen, and the Waterside Hotel at Peterhead.
Its Aberdeen hotel is often mentioned when people complain about rocketing room rates at times of peak demand in the city, such as when offshore crew changes take place or during the biennial Offshore Europe oil and gas show.
Just before OE 2013, when accommodation anywhere in the Aberdeen area was scarce, Britannia Hotel had rooms advertised on a booking website at £450 a night.
The only other hotel within 30 miles of the Granite City showing availability was the Waterside, where daily room rates for the first two days of the exhibition rose to £325 for a two-night minimum stay.
But Britannia’s hotels were by no means the only ones hiking up their prices, with some late bookers being asked to pay well over £1,000 to stay anywhere near the show.
The Waterside became part of Cheshire-based Britannia’s empire earlier this year, changing hands in a deal worth more than £2million. Britannia bought it from Edinburgh-based Crerar Hotels.
It was the third time in less than a decade that the 105-bedroom hotel in Fraserburgh Road had been offered for sale.
There was no one at Britannia available to comment on the firm’s 2012/13 accounts, which highlighted an impact from the gloomy economic climate.
Bosses said they were having to carefully consider writing down the value of hotels, but no adjustments were needed for the year to March.
They added: “The strategy adopted during the year has been to maintain the properties in the group to a high standard in order to meet the challenges presented by an increasingly competitive market.
“The group aims to offer increasing levels of comfort and service, whilst maintaining its highly competitive prices and reputation for good value.”