ANALYSTS at Edison Investment Research have predicted temporary hotel provider Snoozebox should be reporting pre-tax profits in its 2016 financial year.

Edison suggests the company will have revenue of £15.4 million at that point with profits coming in at around £2.8m.

A £4.9m loss is pencilled in for the current financial year with that likely to narrow to £1.2m in 2015. In a research note Edison said: "Snoozebox has a step-change opportunity with the proposed launch of its next-generation hotel product, which has the potential to transform operating performance on significantly more efficient deployment and yield management.

Loading article content

"Meanwhile, booking rates for key events are materially ahead of last year and new high-profile deployments at Glastonbury and the Ryder Cup bring welcome visibility."

In July this year Snoozebox said it expected to record a better second half of its financial year thanks in part to events in Scotland.

During the Commonwealth Games it had an 80-bed hotel on Dunn Street in Glasgow while it ran a 160-bed hotel in the Fountainbridge area of Edinburgh during August.

It will also provide accommodation for the host broadcaster European Tour Productions during the Ryder Cup at Gleneagles.