Village Hotels has created nearly 1,000 jobs after rebounding from the Covid-19 challenges.
The national hotel brand has achieved significant financial growth, with its 2022 turnover surging from £139.9 million to £227.6 million.Â
This positive trajectory has led to ambitious expansion plans for the company across the UK.
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According to the recently submitted accounts to Companies House, the average number of employees in the group rose from 3,365 to 4,340 during the year.
This increase in workforce came after the company had to let go of 870 employees in 2021 due to the pandemic.
Although pre-tax profits in 2022 declined from £40.9 million to £17.8 million, the brand remains committed to growth.Â
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Village Hotels is owned by KSL Capital Partners, a private equity firm headquartered in the United States.
Currently, the hotel chain operates properties in several locations, including Aberdeen, Bournemouth, Cardiff, Glasgow, Leeds, Newcastle, Portsmouth, Southampton, and more.
A statement said: “Despite the impact of Covid-19 on the hospitality sector during 2020 and 2021, the group remained committed during that time to the expansion of the Village brand, particularly through its continued investment in the new properties at Eastleigh (Southampton) and Bracknell.
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“The group is now benefitting from this foresight, as can be seen in its improvement in profit margins year on year.
“From an organic grown perspective, the group is committed to driving growth in each of the group’s three revenue streams, whilst improving margin by retaining the cost savings and leaner structure the group had implemented during the Covid-19 closures.
“The group has also pursued an acquisitive growth strategy focused on developing new hotels throughout the hotel.
“The group has successfully both developed new builds and conversions of existing hotels to Village Hotels in the past and is confident in pursuing both options going forward.”
