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Snoozebox hits £6.5m in revenue

Snoozebox, the portable hotel group, has reported revenue growth of 80% to £6.5 million last year.

It said there was a "marked improvement in financial performance in the second half of 2013" with lower operating costs and further improvements in margins.

Snoozebox has appointed as chief executive Lorcán Ó Murchú, the chief financial officer, whom chairman David Morrison thanked for "addressing the challenges the company faced in 2013 and laying the foundations for future profitable growth".

Snoozebox said sales to date of 2014 events were substantially higher than last year, selling at a faster rate, and with some events seeing prices over 100% higher than in 2013.

It said 2014 events included the Ryder Cup and the Glastonbury festival, where hotel packages will start from £2,000 per room.

At the Ryder Cup, Snoozebox will operate a hotel for European Tour Productions, the host broadcaster, building on its first golf event The Open in 2013.

The concept is also attracting the wider corporate market, with Snoozebox hosting a range of events on behalf of blue chip retailers, banks, car manufacturers, travel companies and event agencies, in the past six months.

It plans a 2014 launch of its Next Generation Portable Hotel, which the group says will increase revenue per room.

It says levels of enquiries and demand are high from the UK and overseas..

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