Dawnay Shore Hotel (DSH) backer the Hotel Corporation has said it remains hungry for more hotel properties, especially in London.
Barclay Douglas chairman of the company, which owns 49.9% of DSH, said: “We are still acquisitive and are looking at a number of options in London and other regions.
Douglas reiterated the company’s plan to acquire 4,000 rooms over five years for DSH.
“We are now a year into the programme and have 2,000 rooms so we are making good progress – especially regarding the renovation of the Hanover Hotels,” he said.
The Hotel Corporation made profit of £9.3m for the six months to 30 June.
DSH’s results - announced separately - valued its portfolio of 17 four-star regional UK hotels at £314.3m.
Its turnover for the six months ended 3 July was £40.4m, up 2.5% year-on-year with operating profit of £14.2m (2004: £14m).
Taking into account interest on debts and other costs, the net loss before tax for the period was £3.9m.
By Chris Druce
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