The finances of a luxury hotel in Manchester city centre surged back to pre-pandemic levels during its latest financial year, it has been revealed.
Hotel Gotham has posted a turnover of £5.1m for the 12 months to March 31, 2022, compared to £1.3m in the prior year.
It also made a pre-tax profit of £881,168, recovering from a loss of £453,260.
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The figures compare to a turnover of £5m and profit of £164,741 in 2019, the last full year not impacted by the Covid-19 pandemic.
Hotel Gotham in King Street was opened in 2015 in a former bank building designed by Edwin Lutyens that had been originally constructed in 1935.
A statement signed off by the board said: "The business has been severely impacted by the Coronavirus pandemic and was forced to close due to Government restrictions.
"The business started to trade again during May 2021 and was back up to occupancy levels of above 70% within a month.
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"The reduced rate of VAT positively impacted the revenues throughout the year to March 2022.
"Whilst comparisons to previous years are skewed by the impact of enforced closures and the reduced rate of VAT, the underlying business is now trading strongly."
The hotel warned that its energy prices had been fixed until the end of September 2022 and that a "significant increase" was expected after the contract ended.
Hotel Gotham is run by Warrington-based Bespoke Hotels which also counts the Chester Grosvenor Hotel among its portfolio.
Accounts for the same financial year also show its turnover jumped from £1.7m to £7.3m and it recovered from a pre-tax loss of £1.1m to make a profit of £757,682.
Bespoke Hotels represents over 120 properties across the world and was founded in 2000 by Haydn Fentum and Robin Sheppard.
According to its website, the group manages over 5,000 hotel rooms, and employs 6,000 members of staff and looks after £525m of assets.
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Other North West hotels in its collection include Hotel Brooklyn Manchester, Mill Hotel and Spa, Chester, Oddfellows Chester, Oddfellows on the Park, Cheadle, Liberty's Hotel, Blackpool, Ennerdale Country House Hotel, Cumbria, and Tune Liverpool.
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