Today’s news in brief – 26/3/24
Forces Manor, a Scottish Highlands hotel catering to armed forces personnel, veterans, and families, recently secured funding for extensive renovations. Owned by former army soldier Tony Brown, the hotel’s journey began when the previous owners helped him during his army days. After rescuing the struggling hotel in 2014, Brown rebranded it to serve the military community. With the recent funding, Forces Manor expanded its facilities, including energy-efficient upgrades and accommodation enhancements. Brown’s vision and perseverance, coupled with the financial support, have transformed the hotel into a luxury retreat, offering various amenities and services for military members.
Real estate investment company Aprirose acquired ground rents for three UK hotels from the QHotels portfolio. The purchase includes properties in Leeds, Northumberland, and Cheshire, showcasing Aprirose’s confidence in long-term income prospects. As part of a joint venture, Aprirose continues to focus on hotel and leisure sectors, actively seeking similar opportunities. Ground rents offer a stable revenue stream, aligning with Aprirose’s investment strategy and commitment to these asset classes.
Hotel room rates in Buckinghamshire and Oxfordshire have reached luxury London levels, surpassing £450 on average. Despite a smaller luxury inventory compared to London, upscale properties like Le Manoir aux Quat’Saisons contribute to the region’s high rates. Although RevPAR in the area has declined due to occupancy losses, demand stabilisation and affluent travellers’ preferences for luxury accommodations suggest growth opportunities. With rising costs, hoteliers must operate efficiently to maintain profitability amidst industry challenges.
Access Hospitality’s salary survey highlights shifting trends in the hospitality industry. While overall salaries have decreased, hotels have seen an increase, indicating a disparity across sectors. Employee satisfaction has risen despite salary declines, attributed to improved work-life balance and additional benefits. Training, flexible hours, and mentoring are increasingly valued by employees. Retaining and attracting staff remains crucial, requiring continued focus on employee well-being and development to sustain a motivated workforce.
