Britannia Hotels has posted a slump in sales from £3.5m last year to £1.4m in the 12 months to 31 March.
However, the company also showed that its like-for-like turnover has grown from £69.8m to £73.3m.
Britannia, headed by Alex Langsam, has taken a battering recently as it was ranked bottom in a survey of 6,000 travellers by consumer magazine Which? for the second year running. It scored just one star out of five in the following categories: bedrooms, bathrooms, cleanliness, communal areas and 'description matching reality'.
In a strategic report, Langsam, said: 'The strategy adopted during the year has been to maintain the properties in the group to a high standard in order to meet the challenges presented by an increasingly competitive market.
'The group aims to offer increasing levels of comfort and service whilst maintaining its highly competitive prices and reputation for good value.
'The group continue to make strategic acquisitions of additional properties throughout the UK, as shown by the acquisition of five hotels during the year.'
Britannia Hotels currently operates 45 properties across the UK and also owns Pontins after buying the chain of holiday camps out of administration in 2011.