Hydro Hotel posts increased annual profit and turnover

EASTBOURNE - Hydro Hotel, Eastbourne, PLC reported its final results for the year ended October 31, 2024, showcasing a profit after taxation of GBP 350,246, up from GBP 235,945 the previous year. The company’s turnover from hotel operations saw a 9% growth, marking a significant increase from the 0.7% rise in 2023.

The hotel’s earnings per share improved to 58.37p, compared to 39.32p in the previous year. Hydro Hotel’s operating activities generated GBP 610,313 in cash and the company invested GBP 166,247 in new fixed assets. Despite the challenging economic environment, the hotel managed to increase its gross profit percentage by 9% through careful cost monitoring.

Hydro Hotel declared an interim dividend of 13p per share, which will be paid on April 2, 2025, to shareholders registered as of March 14, 2025. The ex-dividend date is set for March 13, 2025. This follows an interim dividend paid in October 2024, reflecting the company’s strong reserves and assets.

The hotel has continued to invest in capital improvements, including new air conditioning systems, replacement of outdoor furniture, and refurbishment of bedroom interiors. The company also highlighted its commitment to improving both physical and cyber security, working towards Cyber Essentials accreditation.

In recognition of its quality service, Hydro Hotel received the Outstanding Tourism and Accommodation Award at the Eastbourne Business Awards ceremony on November 29, 2024.

The financial information provided is based on a press release statement and has not been independently verified. The company’s auditor, UHY Hacker Young LLP, has issued an unqualified audit report on the accounts. Hydro Hotel has not proposed the payment of a final dividend, focusing instead on the interim dividends announced.

This announcement comes as the hospitality industry faces cost of living increases that impact both operating costs and consumer demand. Hydro Hotel’s performance demonstrates its resilience and ability to adapt to market challenges.

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