Claridge’s Hotel, the iconic five-star establishment, has witnessed an impressive revenue leap of over 20% following an ambitious expansion project. The addition of new bedrooms has propelled the hotel’s financial success.
According to recently filed records with Companies House, Claridge’s reported a turnover of £119.3 million for the 2023 financial year, a substantial increase from the £98.1 million recorded in 2022.
Part of the esteemed Maybourne Group, Claridge’s also experienced a surge in pre-tax profit, soaring from £2.2 million to an impressive £7.2 million.
The hotel attributes this remarkable growth to a robust recovery post-Covid-19 and the strategic increase in available bedrooms.
In a significant move last November, Claridge’s Hotel Limited acquired the beneficial title to the 41-43 Brook Street building for £42 million . This acquisition facilitated the merger of the refurbished building with Claridge’s, resulting in a combined 269-bedroom hotel.
The board’s statement anticipates continued growth throughout 2024 and 2025, emphasizing “substantial improvement year on year.”