City Marque, the London luxury serviced apartments operator, has secured investment worth £2.1 million through Santander’s Breakthrough programme, to finance the next phase of its expansion. Founded in 2009, City Marque offers an attractive and competitive alternative to London’s luxury hotels. The company provides high-end accommodation through apartments in cluster locations … [Read more...]
Macdonald Hotels profits up, refinancing in place
Macdonald Hotels has announced its results for year ended 28 March 2013 and confirmed a new 5 year banking facility totalling £299m with Lloyds Banking Group. As part of the refinancing the Executives now own 100% of the share capital. Group turnover of £138.6m resulted in an increase in operating profit to £14.9m (£13.8m) an increase of 7%. Group profit increased to £3.3m … [Read more...]
New owners snap up Tenby’s Heywood Mount Hotel
New buyers have snapped up Tenby’s landmark Heywood Mount Hotel from LPA Receivers at Begbies Traynor in a deal brokered by sector specialists Colliers International. Described as the town’s leading hotel, Heywood Mount closed suddenly earlier this year, and new owner Claire Nutty said: “For those couples who arranged wedding receptions at the venue and have not been able … [Read more...]
March record for Manchester hotel occupancy
New hotel occupancy data – supplied by STR Global Ltd and released by Visit Manchester – shows that Manchester city centre achieved its strongest March on record with the average reaching 81%. This represents a 4% rise on March 2013 figures (77%) and a 7% rise on the March average from the years 2000-2013 (74%). Impact of Event + Conference activity A 98% occupancy … [Read more...]
New Forest’s The Penny Farthing hotel on the market
Freehold The Penny Farthing, currently rated #1 Lyndhurst hotel on Tripadvisor, is on the market for the first time in 21 years. The current owner, Mike Sarqui, has instructed leisure property specialists Fleurets, who are marketing the hotel from a guide price of £1,590,000. “The property is situated in the heart of the New Forest National Park and is a profitable, well … [Read more...]