Today’s news in brief – 20/12/24

The King’s Head Hotel in Cirencester has entered administration as of 29 November 2024. FRP Advisory has been appointed as administrators and is exploring options for the hotel, which remains open for trading. The 77-room property, featuring long-stay apartments, a spa, and a brasserie, has informed customers of its status via a website notice.  

The Marston Farm Hotel in North Warwickshire, originally an 18th-century farmhouse, has been acquired for £2.5m by an Indian company entering the UK hospitality market. The six-acre property features 37 en-suite rooms, a restaurant, a bar, event spaces, and proximity to Birmingham Airport. Facilitated by Colliers, this marks the buyer’s first UK acquisition, with plans for further expansion.  

UKHospitality has criticised the Bank of England’s decision to hold interest rates at 4.75%, arguing that a rate cut could stimulate growth and ease financial pressures on hospitality businesses, many of which are still repaying Covid-19 loans. Inflation, driven by rising fuel and clothing costs, remains above the 2% target and is expected to increase slightly. UKHospitality CEO Kate Nicholls emphasized the need for economic growth and supportive measures like interest rate reductions and tax adjustments to aid the struggling sector.