Firmdale Hotels Reports Record Revenue of £232m and Strong Profit Growth
LONDON, July 29, 2026 /PRNewswire/ -- Firmdale Hotels today announced another record year, with Group turnover increasing 5.3% to £232 million for the financial year ending 31st January 2026. Group Earnings Before Interest, Tax and Depreciation (EBITDA) rose 5.1% to £33 million, while conversion of hotel revenues to Gross Profit improved to 46.1%, reflecting the strength of the Group's operating performance. The Group continues to benefit from a robust financial position, with hotels and commercial property assets exceeding £1.2 billion and cash balances of £29.0 million.
Firmdale own and operate 11 luxury hotels in London and New York. In 2024, the Group opened its 3rd hotel in New York, The Warren Street Hotel to add to its two established New York hotels, The Crosby Street Hotel and The Whitby Hotel.
Firmdale continues to invest for future growth. Construction is progressing well on the redevelopment of three adjoining Georgian buildings in Bloomsbury, London. Expected to open in 2027, the Bedford Place Hotel will be the Group's 9th London hotel and part of its Townhouse Collection. In addition, the Group acquired a substantial half acre freehold site on Shoreditch High Street in May 2025 and once the necessary planning consents are in place, this opportunity will allow Firmdale to regenerate a historic site in one of London's most creative districts.
During the year, Firmdale was honoured with the King's Award for Enterprise for International Trade, the UK's highest official recognition for business achievement and the fifth time the Group has received this prestigious award. The Group which now employs a team of over 1,840 employees also continued to receive widespread industry recognition, including being named in the Sunday Times Best Places to Work for 2024 and 2025, earning multiple Michelin Keys and AA Rosettes across its hotels, and receiving leading accolades from Condé Nast Traveller, The Telegraph, The Times, The Sunday Times and Vogue. These results demonstrate the continued strength of the Firmdale brand, its distinctive hotels and its long-term investment strategy, providing a strong platform for future growth.
Tim Kemp, Chairman, said:
"We are delighted to report another record year, with growth in revenue, profitability and cash generation demonstrating the scale of our business, the calibre of our teams and the strength of the Firmdale brand. Trading into 2026 continues to perform well with the London hotels achieving a very positive second quarter and the New York hotels, in particular, delivering an outstanding second quarter. Our balance sheet remains exceptionally strong, providing us with the flexibility to continue investing in carefully selected hotel and property development opportunities while maintaining a disciplined approach to growth."
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