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Gary Neville and Ryan Giggs’ Hotel Football has posted a loss of £601,030 in the year ended 31 December 2023, despite seeing turnover jump by 22% to £7.8m, up from £6.4m the previous year.
According to its latest filing with Companies House, the hotel, located next to Manchester United’s Old Trafford stadium saw its accommodation revenues rise to £4.4m and its food and beverage revenues to £2.99m, up from £3.4m and £2.7m respectively.
The group said its revenues were also affected by the lower number of Manchester United home games seen as a key driver of occupancy for the hotel.
Despite the revenue performance the group said its profits were impacted by a rise in bank interest rates which meant that the debt held by the company increased by £385,000 year-on- year.
A directors statement as part of the filing reads: “Following the post-Covid turnaround in 2022, the company enjoyed a successful year in 2023 achieving the best financial metrics since it opened its doors to the public in 2015.
“The director’s commitment to maintaining the quality of the hotel, the engagement of the team and the overall quality of the delivery of brand standards continues to be successful with the result being the strong performance delivered by the hotel.”
