Almost 100 jobs were shed at the company behind the Hilton hotel in Manchester's iconic Beetham Tower despite a rapid recovery in its turnover, it has been revealed.
Blue Manchester has reported a turnover of £13.1m for the 12 months to April 30, 2022, up from £1.9m in the prior year.
According to newly-filed accounts with Companies House, the firm's pre-tax losses were cut from £2m to £1.2m over the same period.
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In the last year before the pandemic struck, the 12 months to April 2019, the company's turnover totalled £20.5m and it posted a pre-tax profit of £686,626.
The accounts also show the average number of people employed by the company in its latest financial year fell from 231 to 142.
In the year to April 2020, the total had stood at 299 while 304 were employed in the year April 2019.
A statement signed off by the board said: "The directors are expecting the hotel's potential performance to return to pre-Covid-19 levels and then continue to grow revenue and profit margin in the expectation that operations will return to normal and that the operator achieve the improved expectation that we are working towards.
"The directors are currently reviewing refurbishment options for the hotel."
The hotel is housed in the 47-storey Beetham Tower in Manchester city centre.
The building was completed in 2006 and is owned by Yiannakis 'John' Christodoulou, a Monaco-based billionaire.
Mr Christodoulou owns the Yianis Group which holds residential, hotel, retail and leisure properties across the UK and Europe.
Beetham Tower was the tallest building in the UK outside London until 2018 when it was surpassed by the Deansgate Square development.
The Hilton Manchester Deansgate occupies space up to level 22. The rest of the building is occupied by apartments and the Cloud 23 bar.
Mr Christodoulou took over the ownership of the hotel after Beetham Hotels Manchester Ltd went into administration in February 2011.
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