• Text size      
  • Send this article to a friend
  • Print this article

Demand for pop-up hotels music to Snoozebox's ears

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.

"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.

Contextual targeting label: 

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.