Today’s news in brief – 26/9/24
Eden Hotel Collection reported widened operating losses of £2.9m for the year ending 31 March 2024, citing challenges from Covid recovery and the current economic climate. Despite these losses, turnover increased by £472,000, reaching £16.9m. The South West region experienced particularly low demand, with unpredictable booking patterns and a high cancellation rate. Inflation, rising living costs, and extreme food price inflation further strained the business. Nevertheless, the company remains optimistic about returning to profitability. Eden Hotel Collection manages six luxury properties across the Midlands, Cotswolds, and South West, including Bovey Castle Estate and Mallory Court Country House Hotel.
Dakota Hotels has received planning approval for a new 154-bedroom boutique hotel near Manchester Airport. The £60m development, designed by KPP Architects, will be Dakota’s second Manchester location, adding to their Ducie Street property. The project is set to inject £12m annually into the local economy and create 150 jobs. The hotel will include a premium bar, a brasserie-style Grill, parking for 130 cars, and a shuttle service to the airport. Preparation has begun, with GMI Construction expected to start building soon. Managing director Andrew Ovenstone expressed excitement about expanding Dakota’s Northern portfolio.
The Manor House in Castle Combe, Wiltshire, announced that its fine dining restaurant, Bybrook, received 4 AA Rosettes for Culinary Excellence. Executive chef Robert Potter credited the award to the dedication of his team and their focus on using local ingredients to create inventive menus. This honour follows Bybrook’s receipt of a Michelin star in 2017. The AA Rosette scheme is a prestigious measure of culinary quality across the UK. The Manor House, part of the Exclusive Collection, offers 50 rooms and an 18-hole golf course, with Bybrook now standing out as a premier dining destination.
According to the RSM Hotels Tracker, UK hotels experienced an increase in occupancy and average daily room rates (ADR) during August 2023. Occupancy rose to 81.3% year-on-year, while London reached 84.5%. ADRs also increased, with UK rates at £153.71 and London at £221.09. Gross operating profits also saw growth, driven partly by increased tourist numbers and major events like Taylor Swift’s Eras Tour. London Heathrow and Manchester Airport reported higher passenger volumes, further boosting hotel demand. Industry experts expect continued investment opportunities as hotels look to expand.
