Beds and Bars’ annual numbers reflect another massively successful year with 9% growth year on year.
Beds & Bars annual growthBackpacker hostel and bar operator Beds and Bars, led by CEO Keith Knowles OBE, is pleased to report a fantastic financial year (April 2017 to March 2018) with some impressive growth across the group.
Overall sales bucked all market trends and grew £4.2M year on year which equates to a 9% growth year on year. A massive achievement for Beds and Bars.
EBITDA is expected to be £4.53M which represents a 16.9% growth year on year.
When looking at a breakdown of the company’s overall sales, they demonstrate some really strong numbers with all aspects of the business seeing significant improvement in trade.
In terms of drinks sold, overall Bar Sales across the group grew by £1.47M year on year which is 9% overall. The UK bar sales have been particularly successful, growing by 11% which is an industry leading statistic in the UK. Overall, that’s half a million more drinks sold versus last year.
It has been an unprecedented year for food sales for the group. Food sales grew by 13% giving Beds and Bars the most successful year in its history so far. The group plans to improve the food numbers further by continuing to put a strong focus on daytime food sales.
Despite the best efforts of terrorists to disrupt the European Tourism Market, Beds and Bars has managed to grow accommodation sales by 10% – that’s an impressive £2.172 million. The only territory that really saw the effects of any attacks was the UK and in particular London, proving that the spread of sites across Europe has proved the business model to be resilient, even with difficult hurdles thrown our way. The UK accommodation still grew YOY by £240K which given conditions is an impressive 5% YOY.
Overall the group sold a whopping 1,134,063 beds across Europe in the past financial year, with a rise in net bed rate year on year.
Managing Director of Beds and Bars Murray Roberts comments “I’d like to say well done to all concerned, I am so proud to lead this great team of people.”
The group also reports that it is looking to expand further in Europe’s greatest capital cities and will be seeking investment opportunities in the new financial year.
In other news, Beds and Bars is delighted to announce changes to job positions, after well-deserved promotions have been awarded to a number of staff members this month including Sophie Herbert who is now our Marketing Director and will sit on the Board, Luke Knowles who will become the Development and Strategy Director, Mobin Rana our Chief Finance Officer will assume Company Secretary for the Board and Franz Burghoff, the Group Sales and Revenue Director will assist the tech team developing the very best in next generation booking technology.
Overall, Beds and Bars are delighted to report a prosperous year for the company.
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