‘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 [...]
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 [...]
Digital hotel platform Numa snaps up UK-based aparthotel chain Native Places July 9, 2024 The acquisition will add over 800 units to Numa’s property portfolio.