Hotel group CHE is cautiously confident about the future despite recording a £1.8m pre-tax loss in the six months to 30 June. The company, which holds the master franchise for the Comfort, Clarion, Quality and Sleep hotel brands in Europe, said the war in Iraq and Sars had all hit business.
Turnover fell by 4.5% to £35.7m during the period, compared with £37.4m a year earlier.
In the UK, where nearly 80% of the group's turnover is generated, occupancy at CHE's owned and leased hotels declined by 1.4 percentage points to 60.5%.