Numis has commented on the Budget, which it describes as ‘mixed for the sector’: “It should indirectly encourage higher revenues through raising disposable income, and reduce the corporation tax rate. We expect to make detailed forecast adjustments over the next few days, which should fully reflect increases in labour costs due to the National Living Wage (affecting managed … [Read more...]
Powerful OTAs remain a heavy burden on hotel profits
Online travel agents (OTAs) such as Priceline and Expedia have become ever-more powerful as a result of strategic acquisitions of smaller, regional players: Priceline now controls 62% of the European market, while Expedia holds around 70% of the US market. As a result, hotels that have become increasingly reliant on bookings from OTAs might soon be forced to work with just … [Read more...]
Chancellor’s Summer Budget: industry reactions
A new compulsory National Living Wage for workers aged 25 and over will be introduced in April 2016 at £7.20 an hour and reaching £9 an hour by 2020. Employers who do not pay the Compulsory Living Wage are likely to face financial penalties. From April 2016, the National Minimum Wage will only apply to those under the age of 25. This measure is likely to represent a … [Read more...]
MGallery Collection welcomes Queens Hotel, Cheltenham and Castle Hotel, Windsor
Every MGallery property has a story waiting to be shared. Strong personalities and great histories are elegantly expressed though each hotel’s unique identity, their story unfolding through eclectic details, timeless touches and elegant designs. And the two latest additions to MGallery in the UK are certainly consistent with this philosophy. Elegant History: Queens Hotel, … [Read more...]
Biffa launches collection service for food waste created by SMEs
Leading national waste management company Biffa has launched a new nationwide Food Waste Collection service for SMEs in the catering industry. Restaurants, bars, pubs, hotels and fast food restaurants look set to benefit from the new service which is now available across 22 areas of the UK. Conversion to energy From just £7 per lift, small businesses in these areas can … [Read more...]