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Gary Neville and Ryan Giggs’ Hotel Football has posted a loss of over £3m during the past two years as it was impacted by costs during the Covid-19 pandemic.
According to accounts filed with Companies House, Old Trafford Supporters Club LTD posted a loss of £3.2m as it continued to pay its staff and house NHS workers for free during the Covid-19 pandemic.
In the directors statement part of the filing it said: “The directors appreciate that the financial year ending 31 December 2021 was not a normal year with the world still in the midst of the pandemic.
“… Financial Year 2021 continued to be a year of the unknown, especially in the beginning six months because of the pandemic but also because the challenges around inflation and the labour market continue up to this day. One also needs to not underestimate the significance that the hospitality industry is still regarded as a high risk industry by the financial markets in general and by employees.”
It added: “For 2022, the directors are looking forward for the hotel to get back to the performance pre the Covid pandemic with a healthy performance in rooms and F&B, where forecasts are showing a positive for the hotel in terms of average room rate, occupancy, EBITDA and cash generation. Figures are very encouraging, whereby the property has achieved record ADRs as well as outperforming its competitors.”
