Signature Living signs off record £5.6m profits

Liverpool-based hotel developer The Signature Living Group has announced record profits of £5.6m.

Profits  for the year ended April 1, 2016 surged 250% in one year, increasing from £1.6m in the year ending 2015.

Founded by Lawrence and Katie Kenwright in 2008, Signature Living owns four hotels in Liverpool, including the Titanic-themed 30 James Street and The Shankly.

Recent years have seen rapid expansion, with the firm branching out into residential development as well as new hotels in Belfast, Cardiff and Preston.

In Northern Ireland, the Signature Living Group has purchased the city’s famous Crumlin Road Courthouse and plans to turn it into a new hotel and tourist attraction.

In Belfast city centre, the Scottish Mutual Building will become a luxury hotel.

Last week, Signature Living unveiled the first phase of its new 200-bedroom Exchange Hotel in Cardiff Bay. The historic Coal Exchange building, where the world’s first £1m cheque was signed, has been saved from rot and ruin, with 40 bedrooms currently open for bookings.

Signature Living Group chairman Lawrence Kenwright said: “This is a phenomenal set of results, with all of our hotels, restaurants and bars making a strong contribution.

“Signature Living has experienced remarkable growth, and our investors, stakeholders and hard-working employees are delighted with the results.

“Over the next 12 months, our focus is firmly on the expansion of our hotel portfolio. We will seek every opportunity to increase profitable turnover even further than our projected £20m.”

The Signature Living Group’s remarkable journey started with just one serviced apartment in June 2008.

As demand grew, the company tailored its offering, providing high quality group accommodation.

More recently, the group moved into the mainstream hotel market with the 2013 opening of 30 James Street – formerly the headquarters of the White Star Line Company, the shipping firm that made the Titanic.