Today’s news in brief – 23/12/24
New Year’s Eve could contribute £505m to UK hospitality, as nearly 42% of people plan to celebrate outside their homes, with 13% choosing pubs or bars. Spending varies, with 19% anticipating £100 or more, while 10% expect to spend under £10. Atmosphere ranks as the top priority for 64% of attendees, with crowd rowdiness (46%), costliness (44%), and rude staff (37%) being major deterrents. Music is crucial for many; 38% prefer live performances or playlists to create a community feel and enhance the celebratory mood. Music therapist Marianne Rizkallah emphasized its role in fostering bonding experiences and encouraging customer retention.
Staycity will take over and rebrand the Kingsland Locke aparthotel in Dalston, East London, by January 2025. Plans include expanding to 181 studio and one-bedroom apartments by 2028, adding to existing facilities like a gym, café, and microbrewery. Andrew Fowler, Staycity’s chief development officer, highlighted this as a strategic move to strengthen their London presence in a vibrant area. Staycity is also set to expand across Europe, with new openings in Amsterdam, Cambridge, Lisbon, and Porto, aiming to grow from 5,800 to 20,000 operational keys by 2032.
Radisson has launched its first Radisson Red hotel in Galway, Ireland, within the Crown Square neighborhood. The property features 177 vibrantly designed rooms, The Claddagh Bar and Grill, and Lena’s Rooftop Bar, alongside nine meeting rooms with over 400 sqm of event space. Modern amenities include tech-driven check-in kiosks and wireless charging points. Tom Flanagan Karttunen, a Galway native and senior VP at Radisson, praised the hotel for blending bold design with local culture, catering to both leisure and business guests.
Singapore-based Prima Asset Management has partnered with Australia’s Schwartz Family Company to expand in London, focusing on redeveloping the Paddington hotel and pursuing future projects. Schwartz Family Company, with a portfolio of 15 hotels, sees this collaboration as a meaningful return to the area where its director, Dr. Jerry Schwartz, spent part of his youth. Supporting Prima’s growth, Aurum Gravis and Baksh Capital are investing in hotel projects and co-living spaces. London remains Europe’s leading hotel investment hub, recording €2.6bn in transactions in H1 2024, with Prima planning further acquisitions by Q1 2025.
