Today’s news in brief – 30/7/24
Luxury country house hotel Horwood House in Buckinghamshire has seen a significant boost in revenue thanks to a new digital booking strategy developed in partnership with Net Affinity. Since launching a new website in April 2023, the hotel has experienced a 62% increase in bookings, a 76% rise in booked room nights, and has more than doubled its booked revenue. Mobile bookings now account for 48% of total online bookings. Additionally, the hotel introduced a voucher platform, generating £11k in December 2023 alone. Owner Karim Kassam emphasised the importance of digital and mobile bookings for the independent hotel, highlighting that the investment in Net Affinity has yielded better returns than potential franchise fees.
Millemont Capital Partners has acquired Yotel Edinburgh from Starwood Capital Group. Located at 68-73 Queen Street, the 276-room hotel was converted from an office building and opened in 2019. Millemont plans to convert the hotel management agreement to a franchise and has appointed Troo Hospitality to operate the hotel. This acquisition is part of Millemont’s strategy to expand its portfolio in prime UK locations. CEO Ashley Shaw noted that this is their fifth hotel transaction since 2022, reflecting their commitment to growing in high-performing markets like Edinburgh. JLL facilitated the transaction, highlighting the strong fundamentals of the Edinburgh hotel market.
The UK hotel market saw a positive performance in June, driven by Taylor Swift’s The Eras tour and rising consumer confidence, according to the RSM Hotels Tracker. Occupancy rates increased to 81.9% from 81.4% year-on-year, though still below pre-pandemic levels. London’s occupancy rose to 84.8%, with average daily rates reaching a record £175.91. Gross operating profits also improved, with UK hotels seeing a rise from 42.8% to 44.5% and London achieving 50.3%. RSM UK highlighted the resilience of the hotel sector despite cost pressures, attributing some of the economic boost to Taylor Swift’s tour. Economist Thomas Pugh noted that this has also influenced services inflation, suggesting continued economic recovery.
Ellen Kensington, a new boutique hotel in Kensington, is set to open in September. The hotel features 105 rooms across five Victorian townhouses, with interiors blending classic English design and Chinoiserie touches. Many rooms offer views of Barkston Gardens. The hotel will also introduce a pan-Asian restaurant with a terrace, a destination bar, and a cigar lounge. Dining options include bento boxes for lunch, immersive Shabu Shabu dinners, and an Asian-inspired Afternoon Tea. Guests can enjoy the hotel’s gym and six Ryokan Spa Suites. The hotel’s name honours Victorian actress Dame Ellen Terry, who once lived in one of the townhouses. This is the second UK property by Montigo Resorts, following their 2023 Somerset opening.
