JJW hotels enjoy a record 2005

European hotel group JJW Hotels enjoyed a record 2005 thanks to its decision to focus on the luxury end of the market.

The group, which owns London’s Berners hotels and made a successful £63m swoop for the Scotsman Hotel Group in January of this year, said its portfolio of top-class properties had performed well.

Chairman of JJW Sheikh Mohamed bin Issa al Jaber, said: “2005 was a year of excellent growth for JJW Hotels and the outlook is extremely positive.”

Strong increases in occupancy at the group’s 56 hotels, which range from budget to luxury, boosted turnover for the year by 78% from €86.4m (£59.8m) to €153.9m (£106.5m).

Earnings before interest, tax and depreciation – a company’s underlying profitability – leapt 96% to €50.5m (£34.95m) compared with €25.8m (£17.9m) a year earlier.

Net income was €20.3m (£14m) compared with €4.5m (£3.11m) a year earlier. 

JJW reiterated it would concentrate on expanding in the five-star end of the sector where it already owns properties such as the Grand Hotel in Austria and Hotel de Vigny in Paris.

Scotsman Hotel Group sold >>

JJW adds Paris pair >>

By Chris Druce

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