Beds and Bars the operator of various hostels and bars has reported a 14% increase in like-for-like sales in October, equivalent to a £352,000 rise in turnover. The sales increase was driven by a 21% increase in like-for-like accommodation sales. There was a 16% increase in like-for-like sales in the UK, largely driven by 20% increase in like-for-like wet sales and a 17% increase in like-for-like sales in Berlin, largely driven by 29% increase in like-for-like wet sales.
The figures come off the back off a financial statement the company made in July in which is said it is planning to more than double the company’s annual turnover to £100m from the current figure of £39.06m. In the last two financial yeas its turnover has risen by £9m, standing at £30.2m in 2012.
Murray Roberts, managing director of Beds and Bars said: “This is a fantastic achievement; a true reflection of our team’s hard work and the business strategies we’ve implemented over the past year. Improved controls, more accurate measures and talented team members are the primary drivers behind our continued growth, and success. This is just the start and you can expect many more exciting announcements from Beds and Bars in the coming months.”
Beds and Bars operates various brands across Europe including St Christopher's Inns, Belushi's Bars, Flying Pig Hostels, Winston Kingdom, and Bauhaus Hostel & Hotel.