Today’s news in brief – 4/4/23
The freehold of Lincombe Hall Hotel and Spa, located in Torquay, Devon, is up for sale at £4.25m. The property boasts 44 recently refurbished en suite bedrooms, a luxury five-bubble spa, and two self-catering apartments. Set in 2.58 acres of gardens with sea views, the hotel offers various dining options and is close to tourist attractions like Dartmoor. With approved planning for further enhancements, it presents an attractive investment opportunity according to Savills Exeter.
Hilton has acquired a majority stake in Sydell Group to expand its NoMad Hotels brand globally. With Sydell responsible for design and management, Hilton will oversee development and integrate the brand into its commercial platforms. Plans include developing up to 100 NoMad properties worldwide, starting with the flagship NoMad London, emphasising accessible luxury and unique experiences. The move aligns with Hilton’s strategy to diversify its luxury and lifestyle offerings.
Holiday Inn Express Middlesbrough completes phase one of a £1m refurbishment, upgrading 66 out of 159 bedrooms with a lighter colour scheme and 42-inch TVs featuring Chromecast integration. Situated in Centre Square, the hotel caters to both corporate and leisure guests, offering complimentary buffet meals and a 24-hour bar. Mark Ashall, director, expresses excitement over enhancing guest experience amid increased business activity in Tees Valley. General manager Laura Telford highlights positive feedback, particularly from corporate visitors, affirming the hotel’s role in Middlesbrough’s regeneration as they continue with their investment plan.
In February, the UK hotel sector saw a rise in demand, attributed to half-term staycations. Occupancy rates reached 71.4% across the UK and 73.2% in London, up from February 2022. Average daily rates rose slightly to £127.19 (UK) and £188.15 (London). RevPAR and gross operating profits also increased, indicating positive momentum. RSM’s Chris Tate notes February’s strength, citing Valentine’s getaways and holiday breaks as contributing factors. Economist Thomas Pugh highlights the sector’s resilience post-recession and anticipates continued growth, buoyed by consumer spending preferences and economic recovery.
