Edinburgh’s Apex Hotels - last two years ‘pivotal in reshaping portfolio’ as revenues jump 21%
“Our core Apex Hotels brand continues to perform, despite the tough trading conditions” – Ian Springford
Edinburgh-based Apex Hotels said it had “laid the foundations for future growth” as acquisitions helped lift annual revenues by more than a fifth.
The group said it had delivered a “solid” set of financial results for the year ending April 30, 2025. However, profit conversion was adversely impacted by winter trading from new assets acquired in the latter half of the year, which the firm said would be addressed by “refurbishment and repositioning” of these establishments in the coming year.
The 21 per cent year on year growth in revenue is said to have reflected both the expansion of the group’s portfolio through strategic acquisitions over the past 18 months and continued trading strength across existing properties. On a consistent portfolio basis, revenues were still up by 7 per cent year on year, driven by improved room occupancy levels and yield growth, Apex added.
The company maintained a strong focus on operational cost efficiencies, delivering a group operating profit of £13.6 million, up 4 per cent from the prior year.
Acquisitions during the financial year included The Vineyard Hotel, a five-star country house hotel and spa in West Berkshire, and the DoubleTree by Hilton Dunblane Hydro, now rebranded as the Apex Dunblane Hydro.
Alongside those acquisitions, the group has continued to invest across its existing portfolio with the refurbishment of Pine Trees Hotel in Pitlochry and a refurbishment of the Apex Waterloo Place in Edinburgh.
Ian Springford, Apex Hospitality Group chairman, said: “The last two years have been pivotal in reshaping the portfolio and laying the foundations for future growth.
“Our core Apex Hotels brand continues to perform, despite the tough trading conditions, and we are delighted to add the Apex Dunblane Hydro to the portfolio. And with the acquisition of Meldrum House Country Hotel at the end of last year, together with The Vineyard hotel in Newbury, we extend our guest offering by bringing together destination rural properties under the Monogram Collective brand.”
Apex Hospitality Group is a family-owned hospitality business founded by Norman Springford in 1996. Monogram Collective is a growing collection of countryside hotels across Britain.
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