11th Feb 2015 10:08
LONDON (Alliance News) - Portable hotel and accommodation company Snoozebox Holdings PLC on Wednesday said it expects revenue in 2014 to be slightly ahead of its expectations, albeit significantly lower than in 2013, as the group said it completed the turnaround of its events business this year.
The company said it expects revenue for the year to the end of December to be around GBP2.8 million, slightly ahead of its expectations but down significantly on the GBP6.7 million posted the year before.
The group said it has sold 24,000 room nights over the year, with an average revenue per room of GBP117 across events and semi-permanent deployments. That is also down year-on-year, from 32,000 nights sold at more than GBP200 per room last year.
The company said it will focus on positioning itself for scale in 2016 in the coming year, specifically by working on the deployment of the remaining room stock on its longer-term, semi-permanent contracts via the Hotelz arm and with the roll-out of the first tranche of rooms in its new event stock under its Eventz business.
Snoozebox shares were down 6.7% to 7.00 pence on Wednesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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