THE OWNER of London’s Dorchester Hotel and nine other luxury sites across the world has bucked the tough consumer market to post record sales last year.
The Dorchester Hotel Group, which also runs the Beverley Hills Hotel in Los Angeles and 45 Park Lane – the former site of London’s Playboy Club – reported a five per cent rise in revenue to £304.5m in 2012, according to recent accounts filed at Companies House.
UK revenues increased 21.4 per cent to £106.6m with US revenues up 3.2 per cent to £44.8m.
However sales across its European operations fell five per cent to £138.6m while overall group profit before tax fell £6.2m to £26.4m.
“With a continuing background of uncertain economic activity and troubled financial markets the 2012 overall results achieved were beyond management’s expectations,” the company said.
The luxury operator, which is ultimately controlled by the Sultan of Brunei, has been expanding its footprint. In September it acquired Hotel Eden in Rome, its second hotel in Italy after taking over the Principe di Savoia in Milan from Starwood Hotels 10 years ago.