The owner of The Goring, where the Duchess of Cambridge stayed on the eve of her wedding, suffered a 13 per cent slump in profits last year after it carried out a major revamp of the luxury hotel.
Goring Holdings, a family-owned group which also owns two luxury residences in France, reported pre-tax profits of £809,764 in the year to 31 March 2014, down from £936,089 the previous year.
Sales also declined to £11.9m from £11.8m in 2013. The company said the decline was to be expected and that it will be carrying out “extensive refurbishment” of The Goring’s front hall this year.
“This will have an adverse effect on revenue in that year but it is anticipated that the hotel will return to revenue growth thereafter,” it said in its accounts filed on Companies House.
The west London site was opened by Otto Richard Goring in 1910. Sir Winston Churchill’s mother Lady Randolph lived at the hotel in 1917.