Village Hotels in the red after takeover by Blackstone June 30, 2025 Village Hotels fell into the red in the year it was taken over by US private equity giant Blackstone, it has been revealed. The Warrington-headquartered chain slumped to a pre-tax loss of £23.5m for 2024, according to new accounts filed with Companies House. The firm has said the loss was mainly due to exceptional costs. [...]
Borders watchdog casts doubt on Labour pledge to end asylum hotels June 24, 2025 The Labour government’s pledge to end the use of hotels for asylum seekers by 2030 has been dismissed as unachievable by the UK’s borders watchdog. Chancellor Rachel Reeves reiterated at the Spending Review nearly a fortnight ago that the government’s commitment to end asylum hotels would save the government £1bn a year. But David Bolt, [...]
Travelodge in the red amid Reeves’ £21m tax hikes May 22, 2025 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 [...]
Easyhotel significantly slashes losses as return to profit nears May 21, 2025 Easyhotel significantly slashed its losses as it took a huge step towards returning to profit for the first time since before the Covid-19 pandemic. The London-headquartered budget hotel chain has posted a pre-tax loss of €1.8m (£1.5m) for 2024, down from the €10.5m (£8.9m) it reported for 2023. The latest pre-tax loss figure is the [...]
Marriott to acquire smart hotel brand CitizenM for £266m April 28, 2025 Marriott International will acquire hotel and lifestyle brand CitizenM for £266m as it looks to expand its select-service and lifestyle lodging offerings. CitizenM, which opened its first hotel in 2008, currently operates 36 open hotels – with 8,544 rooms – across more than 20 cities. The brand’s current pipeline includes three under-construction hotels comprising over 600 [...]
Duncan Bannatyne: Former Dragons’ Den star’s empire toasts record sales April 11, 2025 The health club and hotels empire run by former Dragons’ Den star Duncan Bannatyne has posted record sales as its profits surged in 2024, it has been revealed. The Bannatyne Group has reported a revenue of £149.6m for its latest financial year, up from the previous record of £138.9m which it achieved in 2023. The Darlington-headquartered group’s [...]
Britannia: Millionaire ‘Asylum King’ hotel tycoon rakes in the cash April 11, 2025 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 [...]
Tallest UK skyscraper outside London approved April 10, 2025 Plans to build the tallest skyscraper in the UK outside of London – which are backed by Hollywood legend Robert De Nero – have been given the green light. The Manchester city centre building will be developed by Salboy, which was co-founded by Betfred billionaire Fred Done, and will rise to 76 storeys. Land between [...]
Lush to pass tariffs onto US shoppers as it sinks further into the red April 8, 2025 Lush has revealed plans to open a UK hotel as it detailed its response to President Donald Trump’s tariffs amid the ethical cosmetics retailer sinking further into the red. The Dorset-headquartered company has included scant detail in its annual accounts about its plans for a new hotel but did say it is working with a [...]
New plans submitted for Custom House hotel development April 2, 2025 New plans have been submitted for the refurbishment of Custom House after years of hold-ups. The proposals include a 179-bed hotel, spa and restaurant offering, alongside a public access scheme. The Grade I building, on Lower Thames Street in the City of London, was the home of customs and trade for more than 200 years [...]