THE family-owned Crieff Hydro hotels group has reported a rise in annual profits and revenues but expressed caution about future market conditions, citing Brexit-related economic uncertainties.
The group includes the Crieff Hydro Hotel and nearby Murraypark Hotel, as well as the Peebles Hydro and The Park, also in Peebles, and the Ballachulish and Isles of Glencoe hotels. It also takes in Crieff Hydro’s hotel management operation.
The Crieff Hydro group, publishing its results yesterday and noting it was 150 years since it was first registered, said revenue had risen by more than 10 per cent to £29.8 million in the year to February 28. It highlighted the broadly based nature of this growth.
The hotel group’s annual pre-tax profits rose by nearly two-thirds to slightly more than £700,000. Earnings before interest, tax, depreciation and amortisation increased by 22% to £2.9 million.
Crieff Hydro chief executive Stephen Leckie, a direct descendant of the 1868 founder of the business Dr Thomas Meikle, said: “In our 150th year, we’re delighted to have put in such a solid performance.”
Looking ahead, he added: “It’s a positive place to start, but it’s been tough and it’s getting tougher as fundamental changes to cost structures pile up. This on top of massive uncertainty over all sorts of Brexit consequences which it’s now clear will continue long after March 2019 – whatever the ‘deal’.”
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here