English expansion in Portland's plans

PORTLAND Hotels, the privately-owned Scottish hotel management and investment company, revealed yesterday it is seeking to expand south of the Border, after reporting a 40 per cent jump in profits.

Chief executive Colin Paton said profits reached 1.34 million in the year to 31 January. He added: "We have robust cash reserves and with further senior debt available on acceptable terms we are positioned favourably to make further acquisitions."

The company is targeting a hotel with 100 to 300 bedrooms with a strong leisure and corporate customer base.