MONTH IN REVIEW
MONTH IN REVIEW
www.hotelowner.co.uk
HOTEL FIRES
Breckland Lodge
hotel and pub
to reopen after
‘devastating fire’
1
This is a significant
commission for us to
convert a building that had
been at the centre of the
city’s public life for more
than a century and a half
Alastair Shepherd, director,
Falconer Chester Hall
NEW HOTELS
The Breckland Lodge hotel and pub
in Norfolk will reopen on 1 November,
following the “devastating fire” that
destroyed the property on 6 February.
Some 14 fire engines were called to
the 33-room hotel in Attleborough after
the alarm went off at 9:20am, and more
than 70 firefighters tackled the blaze.
At the time Paul Seaman, Norfolk
Fire and Rescue Service, said:
“Unfortunately, Breckland Lodge will be
closed for some time. It is a tragic loss
for the area and hopefully we will see it
being rebuilt for the future.”
A Facebook post by the group
read: “Although impossible to name
everyone, we would like to thank every
single person who has played a part in
the re-build after the devastating fire
earlier this year. We hope you agree
that the re-build looks incredible.
“We would also like to thank
everyone who has sent us wonderful
messages of support, it has meant a lot
and kept the team going.”
QUOTE OF
THE MONTH
“Legitimate businesses pay
business rates and VAT –
short-term letting hosts do
not. Listing hosts are not
regulated and do not have to
undergo the rigorous safety
checks Bristol’s hoteliers are
required to do.”
That’s what BHA chairman
Imran Ali said about the impact
of the short-term letting trend on
Bristol’s smaller hotels and B&Bs
14
www.hotelowner.co.uk
Former Liverpool
City Council
building to be
turned into
four-star hotel
The former home of Liverpool City
Council is to be converted into a luxury
four-star hotel.
The city’s planning committee has
given the green light to proposals
submitted by the Singapore-based
Fragrance Group to create a 185-bed
hotel in the former Municipal Buildings
on Dale Street.
The design also includes a four-
storey extension to the rear of the
existing Grade II-listed building.
Alastair Shepherd the director of
Falconer Chester Hall, the architects
commissioned for the project, said: “This
is a significant commission for us to
convert a building that had been at the
centre of the city’s public life for more
than a century and a half. We will carry
out a sensitive refurbishment of the
existing highly decorative spaces and
deliver a scheme the site and its history
deserve. This consent is testimony to
the close working relationship with
Historic England and the Council’s
Conservation Department.”
Once built guests will have access to
facilities including a spa, gym and top
lit swimming pool. The hotel will also
have conference and meeting facilities
plus large guest suites and a restaurant
adjoining the atrium.
2
3
4
5
6
7
8
FINANCIAL UPDATES
Hyatt reports Q3
profit of $237m
Hyatt Hotels Corporation has
reported net income of $237m
(£185.5m) in the third quarter of 2018,
compared with $18m (£14m) in the
same period the previous year.
Adjusted net income attributable to
Hyatt was found to be $37m (£28.9m),
compared with $29 (£22m) in 2017. The
increase in net income was attributed
to the “gains on sales of real estate”.
However adjusted EBITDA
decreased by 0.9% to $175m (£136.9m).
Hyatt also reported that Comparable
system-wide RevPAR increased by
2.8%, including an increase of 5.3% at
comparable owned and leased hotels.
In the EAME/SW Asia region
management and franchising segment
Adjusted EBITDA increased 16%
and RevPAR for full service hotels
increased 11%, driven primarily by
strong growth in Russia, Western
Europe, and Turkey.
Mark Hoplamazian, president and
CEO of Hyatt Hotels Corporation,
said: “We reported another quarter of
solid growth, led by a 9% increase in
management and franchise fees and
5% RevPAR growth at our owned and
leased hotels, both on a constant-
currency basis. Our outlook for the
remainder of 2018 remains positive,
including comparable system-wide
RevPAR growth of 3.5% at the mid-
point of our full-year guidance range.”
He added: “We are continuing to
execute our long-term growth strategy
while returning meaningful capital
to shareholders, enabled in part by
our sell-down of real estate. Earlier
this month, we announced plans to
acquire Two Roads Hospitality, a
high-end lifestyle hotel management
company which we expect will expand
the growth of our management and
franchising business.”
END: THAT’S ALL. YOU ARE NOW UP TO DATE
November 2018