Travelodge in the red amid Reeves’ £21m tax hikes hospitality Travelodge has fallen to a loss during the first three months of its financial year as it battles the tax hikes announced by Chancellor Rachel Reeves in her Autumn Budget which will cost the hotel chain more than £20m this year. The company confirmed last year that the rise in the National Living Wage will cost [...]
Britannia: Millionaire ‘Asylum King’ hotel tycoon rakes in the cash hospitality The millionaire hotel tycoon dubbed the ‘Asylum King’ is still raking in the cash despite his Britannia chain being ranked the worst in the UK. Alex Langsam founded Britannia Hotels in 1976 after opening his first site in Manchester. Langsam remains the company’s chief executive and largest shareholder while his empire also extends to budget [...]
Boutique Leicester Square hotel handed £42m price tag Property A recently-converted boutique hotel in London’s Leicester Square has been put on the market for £42m. The former office building on 2-5 Charing Cross Road has undergone a significant conversion project and is set to be fully operational by June. The announcement comes as former Natwest bank on London’s Piccadilly is also set to become [...]
Luxury London hotel sale boosts profit at family empire January 23, 2025 The sale of a luxury hotel in London significantly boosted the profit of a family empire which has set its sights on further expansion across the UK. Apex Hotels, which was founded by Norman Springford, has posted a pre-tax profit of £28.4m for the year to 30 April, 2024, after selling Apex London Wall Hotel [...]
Gary Neville’s hotel makes huge loss after Tom Kerridge closure January 2, 2025 A hotel owned by Gary Neville and Ryan Giggs slumped further into the red after the closure of Tom Kerridge’s restaurant, it has been revealed. The Stock Exchange Hotel in Manchester city centre has also posted falling sales despite the publicity it received after Madonna booked the entire hotel out while she was performing in [...]
Loss widens at Shangri-La Hotel at The Shard November 28, 2024 The five-star Shangri-La Hotel at The Shard is eyeing an improvement in its financial performance in 2024 despite its pre-tax loss widening during its latest year. The hotel has reported a pre-tax loss of £7.3m for 2023, according to newly-filed accounts with Companies House. The figure compares to the £6m pre-tax loss it posted in [...]
Travelodge turns to robot vacuums amid budget hotel chain facing £21m costs hike November 28, 2024 Travelodge has revealed it is facing a £21m hike in costs in 2025 following Chancellor Rachel Reeves’ Budget. The budget hotel group has warned it will see the increase because of the combined impact of another minimum wage hike in April as well as a higher rate of employer national insurance set to push up [...]
The Dorchester Hotel owner struggles with rising costs and fewer guests October 14, 2024 The group that includes The Dorchester Hotel in London fell into the red in 2023 as it struggled with rising costs and fewer guests. The Dorchester Group has reported a pre-tax loss of £5.2m for its latest financial year, having made a pre-tax profit of £17m in 2022. Newly-filed accounts with Companies House also show [...]
Pennyhill Park owner’s profit slashed after major renovation October 7, 2024 Profit has been slashed at the owner of Pennyhill Park, the five-star hotel where the England men’s rugby team are based, after it underwent a huge renovation project. The group saw a complete renovation of its newest addition, the Ansty Hall hotel near Coventry, while it also “invested heavily” in its South Lodge location. As [...]
Gary Neville and Ryan Giggs-owned Hotel Football still in the red despite record sales October 1, 2024 Hotel Football, which is co-owned by Gary Neville and Ryan Giggs, remains in the red despite achieving a record year. The hotel, which is located in the shadow of Manchester United’s Old Trafford stadium, has reported a pre-tax loss of £601,030 for 2023 after also making a loss of £630,158 in 2022. The loss comes [...]