Beds and Bars, the bars-meets-hostels operator, saw revenue rise 10% to £36.8m in the year to 31 March.
The company said it was now well placed to implement the next phase of its long term strategy, which includes a £7m development of UK sites.
On a like-for-like basis, making adjustments for the strength of the pound against the Euro, revenue was 18% up on the previous year. On the same basis and adjusting for the sale and leaseback of the Winston Hotel building in Amsterdam, group EBITDA increased by 13%.
Net debt was cut from £25m to £13m and net tangible assets increased to £13.7m.
The re-finance with HSBC includes a 15 year term loan of £11m.
While the group does attribute a value to its leasehold estate within the accounts, it notes that the UK estate was valued in November 2014 by Christies at £6.6m.
Chief executive Keith Knowles said: “People and the development of people remain the key component in this success.”
