Today’s news in brief – 1/5/25
Savills is marketing the freehold site for the fully consented Residence Inn by Marriott Cambridge, offering a development-ready opportunity for a 134-bedroom aparthotel with a Gross Development Value exceeding £50m. The four-storey property will feature a reception, lounge, restaurant, bar, gym, business centre, and a retail unit, and is targeting BREEAM ‘Excellent’ certification. Located next to the River Cam, the site is strategically positioned near key Cambridge hubs. Savills highlights the project’s potential, citing strong local demand for branded extended-stay accommodations.
Whitbread reported a 14% drop in annual profits to £483m for the year ending 27 February 2025, impacted by rising costs and softer UK demand. Revenues slipped 1% to £2.92bn, and adjusted EBITDA fell by 3%. The company’s RevPAR declined 2%, though it maintained a premium over the market. UK food and beverage sales fell 16%, due in part to the strategic removal of underperforming branded restaurants under its Accelerating Growth Plan (AGP). However, Whitbread remains optimistic, citing strong leisure bookings and plans to open up to 1,200 new UK rooms in FY26. Despite a one-off AGP-related profit hit in FY25, the company reaffirmed its target of £300m in additional profit by FY30 and announced plans to return £2bn to shareholders by the end of the decade.
The Beaumont Mayfair has appointed Michelin-starred chef Lisa Goodwin-Allen as its new culinary director. She will work closely with CEO Stuart Procter and executive chef Brendan Fyldes, playing a key role in the launch of the hotel’s new flagship restaurant, Rosi, opening this autumn. Goodwin-Allen, who held a Michelin star at Northcote for 23 years, expressed excitement about embracing British seasonal ingredients and contributing to The Beaumont’s overall F&B direction.
Splendid Hospitality Group (SHG) has strengthened its leadership with three senior appointments. Emma Yearwood joins as group people director, bringing over 15 years of HR leadership experience. Austen Bushrod, formerly with Accor and Radisson, becomes director of procurement, while Jon Newton is named central finance director, bringing two decades of finance experience from both commercial and not-for-profit sectors. SHG executives welcomed the trio as instrumental in supporting the company’s expansion and future ambitions.
