Today’s news in brief – 05/10/23
Generator, the hybrid accommodation brand with properties in major cities like Dublin, London, Copenhagen, and New York, has reported a remarkable 24% increase in revenues for the first half of the year compared to 2022. Their robust cost management has also led to a more than 40% increase in EBITDA. Despite concerns about inflation, Generator’s strong performance is expected to continue throughout the year, defying earlier industry predictions that shared accommodation models would struggle to recover post-pandemic. CEO Alastair Thomann credits their success to a loyal Gen Z and Millennial guest base and their ability to adapt to inflationary pressures.
The Inn Collection Group (ICG) is nearing completion of a multi-million-pound refurbishment of the Tynemouth Castle Inn, set to open in November. The renovation includes new rendering, signage, and additional bedrooms, as well as a fish and chip shop and ice cream parlour. The project aims to preserve the historic venue’s character while contributing to the local community and North Tyneside’s economic growth.
Archie and June Bennett, experienced in American hotels, have introduced luxury cottages to the Scottish holiday rental market. After extensive renovations, they’ve restored five properties on the Auchavan Estate in the Angus Glens, offering boutique accommodation. Plans for a group meeting space and the addition of a waterside cottage are also in progress. The Bennetts’ investment enhances upscale lodging options in the Cairngorms area and provides opportunities for family reunions and wildlife enthusiasts.
Hoteliers in Bristol are disappointed that the Migration Advisory Committee (MAC) has not added hospitality roles to the shortage occupation list. Inclusion on this list would have eased recruitment from abroad, a critical need given the ongoing challenges posed by Brexit, the pandemic, chef shortages, rising energy prices, and cost-of-living concerns. The decision by MAC to exclude these roles, including chefs and hotel managers, is met with frustration by Bristol’s hospitality industry, which calls for a more accurate understanding of the sector’s staffing challenges. The local hospitality community has been actively working to address staff shortages and provide training opportunities for the next generation of chefs. However, MAC’s decision is perceived as a missed opportunity to support the struggling industry.
