Today’s news in brief – 3/4/24
Travelodge achieved record performance in 2023, with revenues up 13.7% to £1.03bn and EBITDA rising 14.6% to £243.9m compared to the previous year. Robust demand from leisure and business guests drove this growth, fueled by visits to friends and family, short breaks, and major events like Wimbledon and Eurovision. Strong business travel demand, including events like DSEI and World Travel Market, contributed to Travelodge’s busiest weeks. Despite macroeconomic challenges, positive forward booking trends into 2024 signal optimism for future growth.
Dormy House, a rural retreat located in Broadway, recently appointed Sara Grundy as its new spa manager. Grundy brings over seven years of experience at Dormy House and extensive knowledge of the spa industry. Her appointment follows the unveiling of a new thermal suite and treatments at the spa. Grundy aims to leverage her expertise to enhance the spa’s offerings and focus on building and developing a strong team. With a recent spa refurbishment receiving positive feedback from guests, Grundy’s main focus is on ensuring an exceptional guest experience.
The former House of Darrach in Gartocharn, Alexandria, has been put up for sale with a freehold guide price of £795,000. Situated on approximately 1,629 acres, the property includes a former restaurant and bar, retail area, and flexible office space. Once known as The Gartocharn Hungry Monk and later rebranded as House of Darrach, the property has a rich history of attracting A-list celebrities and tourists. With various development opportunities, including residential or leisure use, the property offers a promising investment prospect.
The Majestic Hotel in Eastbourne, situated on the seafront, has been sold to new ownership for an undisclosed sum. The 19th-Century Victorian hotel features 95 bedrooms with sea views, a bar, and lounge area. The sale was part of the Coast and Country Portfolio, with 32 other assets still available for sale. The sale represents an exceptional opportunity to acquire a successful hotel business with significant repeat patronage, reflecting strong interest in the hospitality market.
