The operator of some of the region’s top hotels has seen revenue and profits grow in a year when it invested in its leisure facilities.
Ramside Estates operates Ramside Hall near Durham and Hardwick Hall at Sedgefield, as well as the Fed events space in Gateshead and bars in Newcastle and Sedgefield.
It has now released accounts for the year ending November 30 2024 in which its turnover increased from £35.6m a year earlier to £37.2m. Over the same period, operating profit went up from just under £2m to £2.4m.
In the accounts, director John Adamson highlights significant investment in the golf facilities at Ramside, with total capital expenditure during the year reaching £3.7m. The company said the investments would “enhance the company’s leisure offering, supporting customer acquisition and retention”.
Mr Adamson also outlines proposals for investment at Hardwick Hall, though it has recently said that those plans are on hold while a planning application for a nearby anaerobic digestion plant is considered by a planning inspector. The company is concerned that potential odours from the waste plant could affect hotel operations, including weddings and events. The hotel recently hosted the Hardwick Live music festival and is also the long-term venue of the North East Business Awards.
In the accounts, Mr Adamson says: “The company delivered a healthy financial performance during the year, with revenues rising to £37m, representing a £1.5m increase on the previous year. This growth was primarily driven by improvements in room rates and food & beverage income.
“Continued investment across the estate has remained a core focus, ensuring the business meets evolving customer needs and maintains competitiveness within the hospitality sector.
“In June 2024, the company commenced a significant capital development project at Ramside Golf Club. This new Golf Entertainment Centre represents a strategic diversification of the company’s leisure offering and will include a 40-bay, two-floor Top Tracer driving range; a six-lane indoor bowling alley; a sports bar equipped with interactive games, including darts, shuffleboards, pool tables, and multiple large screens for live sports; a new golf academy with short game practice areas, a coaching centre, a new retail outlet, and a dedicated golf function space.
“This development, with a projected cost exceeding £6m, is scheduled for completion by September 2025. Simultaneously, the company is undertaking a £1m upgrade of the Cathedral golf course, aimed at enhancing its standard and long-term appeal.”
Over the year, the company’s headcount fell slightly to 644 but wages and other staff costs rose by more than £2m to just under £15m.
