Red Construction Group has appointed its first full-time group finance director and hired a strategic director to strengthen its hospitality offer as it targets revenue of more than £200m.
The contractor said Alastair Gordon-Stewart had joined as group finance director, bringing more than 30 years’ experience in construction and property development, including 12 years in senior finance roles at Kier Group.
He will oversee financial reporting and cashflow as the business seeks to stabilise annual revenue at around £200m in the current financial year.
Michael Walsh has also joined as strategic director, with a brief to expand the firm’s presence in the hospitality sector.
He will focus on market positioning and client relationships in a division where the contractor has delivered schemes including a hotel for IHG and refurbishment works at the Grade I-listed St Pancras Renaissance Hotel in London.
The appointments followed a wider leadership restructure last year aimed at supporting operational growth and income stability.
Founder Graham Sturge continues as chief executive.
Derek Quinn recently became chief operating officer, while Sam Hewitt moved to group commercial director for the construction arm, allowing Jon Hayes to take on the role of group chief commercial officer across all subsidiaries.
Sturge said the creation of a full-time group finance director role would strengthen financial governance as the business entered its second decade. He added that Walsh’s appointment would support efforts to deepen relationships in hospitality, where RED Construction Group has an established track record.
Gordon-Stewart said the company had built a strong reputation in its chosen markets and that his focus would be on enhancing financial management to support further growth. Walsh said reputation and relationships were central to success in the luxury hospitality and hotel sector.
RED Construction Group operates across the hospitality, commercial, offices and student accommodation sectors. It recently completed the redevelopment of 40 Broadway in Westminster for client Tellon Capital. The scheme delivered 12,077 square metres of Grade A office space and has been fully let to Formula 1.
The business, which marked its 10th anniversary this year, said it would pursue considered regional and sector expansion as part of its next phase of growth.
