Sir Andy Murray’s five-star hotel significantly cuts losses
The five-star luxury hotel owned by Sir Andy Murray significantly cut its losses during its latest financial year, it has been revealed.
The business behind Cromlix Hotel, which is located near the two-time Wimbledon champion’s hometown of Dunblane in Scotland, has reported a loss of £369,045 for the year to 31 March, 2024.
The figure has been included in new accounts filed with Companies House which come after the hotel fell to a loss of £919,572 in the prior 12 months.
The last time Andy Murray’s hotel reported a profit was the £416,442 it achieved in the year to the end of March 2022.
Cash reserves at Cromlix LLP, which operates the 15-room estate, increased from £142,943 to £242,535 – having stood at £1.1m in 2022.
Net liabilities for the estate also went from £1.4m to £1.8m over the year.
Andy Murray bought Cromlix Hotel for almost £2m in 2013.
The results for the hotel come after City PM reported in October last year that Castore, the British sportswear brand backed by the likes of Sir Andy Murray, had slumped to a loss despite its sales jumping by £75m.
The Manchester-headquartered business had reported a pre-tax loss of £28.8m for the year to 4 February, 2024.
The loss comes after the brand posted a pre-tax profit of £14.6m for its prior 12 months.
However, the results also showed its turnover surged from £115m to £190.3m over the same period.
Castore’s accounts show that it incurred exceptional costs of more than £24.4m in the year which pushed it into the red.
However, even before taking into account those extra costs, the firm’s operating profit was slashed in the year from £16.5m to £399,148.