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 [...]
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 [...]
The Lanesborough: Value of five-star London hotel falls as loss widens September 13, 2024 The value of five-star hotel The Lanesborough has been cut as its pre-tax loss widened during its latest financial year.
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 [...]
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.