Andrew Brownsword Hotels accepts £22m insurance payout following Royal Clarence fire

21 August 2019 by
Andrew Brownsword Hotels accepts £22m insurance payout following Royal Clarence fire

An insurance settlement of £22.3m has been agreed with Andrew Brownsword Hotels following the devastating fire at its Royal Clarence hotel in Exeter, according to the company's latest financial results filed with Companies House.

The Grade-II listed, 53-bedroom, four-AA-star hotel, believed to be one of England's oldest hotels, was seriously damaged in October 2016 in a blaze that had broken out in the adjacent Castle Fine Art Gallery building.

The group announced earlier this month its intention to sell the Royal Clarence hotel in Exeter, as costs already incurred in the demolition, historic restoration and enabling works had left the group "unable to deliver a hotel, as we had so hoped to do".

In its results for the period ended 30 December 2018, the group reported diminished pre-tax losses of £46,629, down from £495,085 the previous year, as well as a slight increase in turnover from £14.4m to £14.6m.

In the documents the group said its operating results for the period "reflect mixed trading conditions combined with continued re-investment in the hotels and the associated disruption to trade".

The directors said they were "satisfied with the overall financial performance of the group" despite the "challenging market conditions".

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking