Apex Hotels reports sharp rise in turnover and profit

The Apex Waterloo Place Hotel in Edinburgh was one of several sites to undergo an upgrade last year

The Apex Hotels chain has reported a sharp rise in turnover and profits, following "significant" investment in its portfolio.

The Edinburgh-based group said revenue climbed by 9.5% to £75.4m in the year to the end of April 2019, while pre-tax profit was up by 51%, at £11.7m.

The number of rooms sold rose year-on-year by 5.5% to more than 465,500.

Apex operates a total of 10 hotels in Edinburgh, Glasgow, Dundee, London and Bath.

The company said it had invested a total of £9m over the year in upgrading two of its London hotels and its site in Waterloo Place, Edinburgh.

Chief executive Angela Vickers said: "Over the past year, we have delivered on our capital investment programme to upgrade the portfolio.

"We are delighted to see this has resulted in a strong performance across the financial year and demonstrates our continued commitment to providing modern facilities and the best possible experience for our guests."