The embattled luxury concierge service co-founded by Queen Camilla’s nephew Ben Elliot embarked on what appeared to be an inopportune hiring spree in the Middle East and Asia before wealthy individuals began fleeing the region because of the US-Israel war on Iran.
Quintessentially almost quadrupled staff in the regions from 22 to 84 during its financial year to 30 April 2025, according to newly released annual accounts, which again reported multimillion-pound losses and warned of “material uncertainty” about its future.
The increase in staff numbers came less than a year before the conflict erupted in the Middle East – with Iran retaliating against US and Israeli strikes by targeting Gulf cities including Dubai. The attacks prompted a scramble among the wealthy to leave the Emirates via alternative routes on private jets.
A Quintessentially spokesperson said the business continued to hire in the region and was planning another office in Dubai. In January it opened a base in Beirut.
The comments made in the annual accounts of Quintessentially (UK) highlighted how the company had been continuing to monitor events in the Gulf.
“Given the group’s operational presence in the UAE [United Arab Emirates], management has performed scenario analysis to assess the potential impact of a range of downside cases on the group’s operations and financial performance,” the accounts stated. “These scenarios include consideration of possible disruption to regional operations, changes in customer demand and potential supply chain constraints.”
Quintessentially is known for providing services to wealthy clients such as securing tables and tickets for millionaires at fully booked restaurants and events, as well as liaising with admissions officers at top private schools.
The seemingly unfortunate timing of its expansion in the Gulf region represents the latest challenge for a company that has recently experienced its fair share of financial trials.
The accounts set out how Quintessentially made pre-tax losses of £3m in the year, up from £2.1m in the previous 12 months. The directors also highlighted there was a risk the group could need to “obtain external funding, which may not be forthcoming and therefore this creates material uncertainty that may ultimately cast doubt about the group and company’s ability to continue as a going concern”.
The business does not appear to have been completely turned around since the end of the financial reporting period, with the latest filing also saying its debt to its 26.7% shareholder, World Fuel Services Europe, had increased. “On 30 November 2025, the lender agreed to extend the £15.5m facility by a further £2.6m increasing the principal to £18.1m,” the filing said.
Quintessentially is paying its part-owner interest on the loan of six percentage points above the Bank of England’s current base rate of 3.75%, the filing added. The company was co-founded by Elliot, a former co-chair of the Conservative party, in 2000.
The company said its directors expected a return to profitability in the financial year 2026-27, while revenues for the year to April 2025 rose to £33.8m from £29.3m. However, the top-line improvement was driven almost completely by the US business, which reported a rise in sales of £7m to £12m, while revenues of the UK business fell by £3.4m.