OXFORD HOTELS and INNS CELEBRATE ONE-YEAR ANNIVERSARY
Released on: October 8, 2007, 1:47 am
Press Release Author: Kathryn Chitty
Press Release Summary: Further Investment Plans & First Quarter Forecasts Announced
Press Release Body: NATIONAL hotel and leisure group Oxford Hotels & Inns is celebrating its first birthday this month with the announcement of a further multi-million pound investment programme across its chain of over 60 UK hotels.
The company, which formed in September 2006 following the collapse of London & Edinburgh Inns, has already invested over £2.7m in upgrades over the last year and has revealed plans for a further £3m worth of upgrades scheduled to commence over the next six months. Forecasts for the first quarter also look promising for the hotel group as year with double-digit profit growth and an increase in revPAR (revenue per available room) of over 16 per cent.
Comments Mark Edwards, managing director of Oxford Hotels & Inns: "We've spent money where it has been necessary, raising standards but allowing each hotel to retain its individuality. In all, one-third of the bedrooms have received some form of investment to date.
"Our continued investment programme, which will extend across properties in England, Scotland and Wales, will see major refurbishment and improvement projects take place at existing hotels as well as the acquisition of selected new sites as we look to further cement our position as a leading UK hotel operator."
Particular highlights for Oxford Hotels in 2006/ 07 have included playing host to the Open Championship at the Carnoustie Golf Hotel - one of the chain's flagship properties - and the acquisition of three new properties in Loch Fyne, Angus and Oxford.
Continues Edwards: "The timing of the acquisition of the Carnoustie Golf Hotel was very fortunate for us. The hotel went ahead as planned with hosting the Open Championship which provided us with a boost to business and great publicity."
Oxford Hotels & Inns operates a portfolio of more than 60 hotels and inns and 170 pubs across the UK. Further information on the full range of hotels can be found at www.oxfordhotelsandinns.com