Apex Hotels, the family-owned Scottish group, posted a solid trading performance in a year that set it on a path for further expansion of its portfolio.

Profit before tax for the year to the end of April, excluding an £18.9m gain from the sale of Apex London Wall Hotel in July 2023, came in at £9.5m (2023: £8.96m). There was a 6.2% rise in revenue to £79.4m (2023: £74.8m).

The funds generated from the disposal, together with a Barclays Bank refinancing deal, have created a platform for further expansion.

During the period, Apex acquired two rural properties – Pine Trees Hotel in Pitlochry, a four-star hotel operating in rural Perthshire, and Meldrum House Country Hotel and Golf Course, a four-star resort in Aberdeenshire.

Following the year end, Apex acquired The Vineyard Hotel, a five-star country house hotel and spa in West Berkshire, followed by the DoubleTree by the four-star Hilton Dunblane Hydro which will continue to trade as a Hilton Doubletree brand under a hotel management agreement.

The group continues to invest in the existing portfolio, completing the refurbishment of Apex City of Edinburgh Hotel in early 2024.

Chief executive Angela Vickers said: “Following strong trading last year, we have set out a path for continued growth of the portfolio through strategic acquisitions and refurbishment of existing properties.

“We look forward to another strong year in 2025 as we continue to grow our market position
and establish ourselves as one of the top independent hotel groups in the UK.”