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 [...]
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 [...]
Boutique Leicester Square hotel handed £42m price tag April 1, 2025 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 [...]
Sir Andy Murray’s five-star hotel significantly cuts losses March 21, 2025 The five-star luxury hotel owned by Sir Andy Murray significantly cut its losses during its latest financial year, it has been revealed. The business behind Cromlix Hotel, which is located near the two-time Wimbledon champion’s hometown of Dunblane in Scotland, has reported a loss of £369,045 for the year to 31 March, 2024. The figure [...]
Home Bargains billionaire promises Liverpool its first five-star hotel March 13, 2025 Liverpool could be set for its first five-star hotel if plans for a 60-storey skyscraper are approved for the city, it has emerged. The update, delivered to investors at international property conference MIPIM in the south of France, comes after plans for the development were first revealed last year. KEIE Limited, a subsidiary of TJ [...]
Andy Burnham slammed for Manchester tourist tax plans February 21, 2025 Andy Burnham has been slammed by the chief executive of UKHospitality after backing plans for a new tourist tax to be introduced in Manchester. The mayor of Greater Manchester said earlier this week that tourists visiting the city region should pay a “proper” mandatory “tourist levy”. He added that he wanted to see Manchester city [...]
The Ritz: Losses continue at iconic London hotel February 7, 2025 London’s iconic Ritz hotel has now lost more than £75m since it last turned a profit, it has been revealed. The luxury London hotel has posted a pre-tax loss of £10m for 2023, accounts filed more than five months late with Companies House show. The latest figure comes after The Ritz posted a loss of [...]
‘Prohibitive building costs’ stunting UK growth projects – Deloitte February 4, 2025 “Prohibitive costs” involved in construction projects in major UK cities led to a sharp decline in the number of new developments breaking ground in 2024, according to a new report from Deloitte. Deloitte’s latest Regional Crane Surveys, which covers the central areas of Belfast, Birmingham, Leeds and Manchester, has revealed the number of new starts [...]
OYO: Billionaire’s hotel empire to make £50m UK investment February 3, 2025 OYO, the hotel chain founded by Indian billionaire Ritesh Agarwai, has revealed plans to invest £50m in the UK over the next three years and support 1,000 jobs. The news comes after the group, which first entered the UK market in 2018, announced its ambition towards the end of 2024 to open 40 new hotels [...]
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 [...]