Macdonald Hotels & Resorts back in the red as cost increases bite September 9, 2024 Macdonald Hotels & Resorts slumped back into the red during its latest financial year as it battled a rise in its costs. The group, which is headquartered in East Kilbride, Scotland, has reported a pre-tax loss of £3.5m for the year to 28, September, 2023, after having posted a pre-tax profit of £44.5m in the [...]
The Savoy Hotel feels the pinch as London’s luxury market gets even more competitive August 28, 2024 The Savoy Hotel is feeling the impact of an increase in competition in London’s luxury hotel market after its pre-tax loss widened during 2023, it has been revealed. The hotel has reported a loss of £17.9m for its latest financial year, having also made a pre-tax loss of £12m in 2022, according to newly-filed documents [...]
Rocco Forte Hotels counts cost of £1.4bn deal with Saudi Arabia’s Public Investment Fund August 27, 2024 Profit at the British hotel group co-founded by Sir Rocco Forte was cut by more than half during its latest financial year as it sold a significant stake to Saudi Arabia’s Public Investment Fund. The deal, which was first announced in December 2023, saw the PIF take a 49 per cent holding in London-headquartered Rocco Forte Hotels [...]
Claridge’s Hotel: Major expansion helps sales and profit surge at five-star London icon August 21, 2024 Sales at Claridge’s Hotel surged by more than 20 per cent in 2023 thanks to a “strong” recovery from the Covid-19 pandemic and the completion of a major expansion project. The five-star London hotel has reported a turnover of £119.3m for its latest financial year, up from the £98.1m it achieved in 2022. According to [...]
The Gleneagles Hotel owner significantly cuts loss after ‘strong year’ for Ryder Cup host August 20, 2024 The company behind The Gleneagles Hotel in Scotland significantly cut its pre-tax loss during its latest financial year, it has been revealed. The business, which also includes the likes of Maison Estelle and Gleneagles Townhouse, has reported a pre-tax loss of £3.7m for the 12 months to March 31, 2024, according to newly-filed accounts with [...]
IHG: Revenue up at Holiday Inn owner despite China slowdown August 6, 2024 Intercontinental Hotels Group (IHG), which owns the likes of the Holiday Inn chain, saw its revenue rise during the first half of 2024 thanks to a strong performance in Europe, the Middle East and Africa.
Orient Express and Royal Scotsman owner Belmond still in the red despite sales rise August 6, 2024 The UK arm of the company that runs the Venice Simplon-Orient Express increased its sales but saw its pre-tax loss widen during 2023, it has been revealed.
Firmdale: Record year for luxury London and New York hotel group amid expansion plans August 5, 2024 Turnover at the group behind luxury hotels in London and New York edged to almost £200m during its latest financial year, it has been revealed.
Ritz Paris: Profit slashed despite US popularity at Al-Fayed-owned luxury hotel August 5, 2024 Ritz Paris, the luxury hotel owned by the Al-Fayed family, saw its profit slashed during 2023 despite sales jumping thanks to its continuing popularity among US visitors.
London’s latest luxury hotel and club set for former royal residence July 12, 2024 A historic landmark in London's Mayfair, which used to be a royal residence, is set to open as a new luxury hotel next year, it has been confirmed.