Today’s news in brief
Selina Hotels has announced improved financial results for the first half of 2023. Their adjusted EBITDA showed a loss of $0.3m (£0.24m), a significant improvement from the $4.4m (£3.6m) loss in H1 2022. Total revenue also increased to $106.7m (£86m), a 23.4% rise compared to the previous year, driven by higher occupancy rates and TRevPABs. Occupancy rates improved from 45.5% in H1 2022 to 54.1% in H1 2023. In the second quarter, they reported a loss of $0.7m (£0.6m), down from $5.8m (£4.7m) in Q2 2022. Total Q2 revenue reached $52.5m (£42.3m), a 15.9% increase, attributed to newly opened locations and higher occupancy rates. The company reaffirmed its guidance to achieve positive adjusted EBITDA and positive operating cash flow for the year but acknowledged the need for future profitable operations and additional financing.
The historic Chichester Hotel in Wickford, North Essex, has been put up for sale, with offers starting at £1.6m for the freehold property. Dating back to the 13th century, the hotel features 36 en-suite bedrooms, a bar, restaurant, and event spaces. Notably, it served as a popular wedding and event venue in the region. The sale is managed by Simon Jackaman of Christie and Co, who expects strong interest due to the attractive location and potential business opportunities.
The Paris-based Experimental Group has opened Cowley Manor Experimental hotel in the Cotswolds. This 300-year-old manor house has been transformed into a modern boutique hotel with 36 bedrooms and suites, a spa, restaurant, cocktail bar, and various living spaces. The rooms blend classical and contemporary design elements, with nods to Lewis Carroll’s Alice in Wonderland. The restaurant, led by chef consultant Jackson Boxer, emphasises local produce and French heritage. The C-Side Spa offers pools, treatment rooms, a fitness centre, and more.
The Doxford Group has appointed Catherine Smith as the pastry chef for The Tempus, a boutique hotel and restaurant on the Charlton Hall Estate in Northumberland. Smith brings experience from working at prestigious establishments such as the Ritz Hotel in London and Betty’s Cookery School in Harrogate. She aims to enhance the dessert menu and introduce a high-quality afternoon tea experience. The Tempus, which opened in May 2023, offers 15 guest bedrooms and suites, a bar, restaurant, and serves a variety of dining options throughout the day.
