THE upmarket Marcliffe Hotel has seen annual profits more than double, according to its latest set of accounts.
The five-star Aberdeen establishment saw its turnover rise more than 10 per cent from £6.7 million to £7.5 million in the 12 months to the end of September 2013.
Writing in accounts filed at Companies House, director Stewart Spence said occupancy was up by three per cent and there was a four per cent hike in the average room rate.
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Alongside that, restaurant turnover grew by 10 per cent and spa sales increased by four per cent.
However Mr Spence noted the spend per head in the function business had declined by 1.2 per cent. But pre-tax profits still soared from £328,944 to £751,992.
Average monthly staff numbers increased from 190 to 199 while employee costs ticked upwards marginally from £2.57 million to £2.59 million.
An agreement has been struck with developer Gibson McArtney for the Marcliffe to be transformed into a £90 million office complex with the hotel likely to cease trading at the end of November this year.
However Mr Spence said sales in the current trading year are "shaping up well" and are running 7.7 per cent ahead but occupancy was down by two per cent.
The accounts also noted the Marcliffe holds a 22.5 per cent stake in The Tivoli Theatre Company and a 33.3 per cent holding in Paul Lawrie Golf.
The value of its 10 per cent of The Patch at Augusta golf course in Georgia, US, has been written down to zero.
Past guests at the Marcliffe include former prime minister Tony Blair, actor Charlton Heston and rock star Rod Stewart.