Today’s news in brief – 11/10/23
Ability Group has acquired a £24.6m loan facility from Ask Partners to refinance an existing loan and fund the extension of the Hampton by Hilton Hotel located at Bristol Airport. The hotel was acquired by Ability Group from CIMC Capital Ltd. for £24m in 2020. The expansion will add 50 additional bedrooms to the hotel, which currently features 201 bedrooms, meeting rooms, a gym, and food and beverage facilities. The location, adjacent to Bristol International Airport’s terminal, makes it the only branded hotel at the airport. Ask Partners CEO Daniel Austin expressed enthusiasm for the project, aligning with the airport’s growth plans, and highlighted the increased demand for terminal-side hotels post-covid.
Bowland Inns and Hotels is set to expand its operations in the North West after receiving a £25m loan from Oak North Bank. The funds will be used to refinance the existing portfolio of properties and facilitate the acquisition and refurbishment of Wennington Hall near Lancaster. This expansion is part of the Dream Venues Collection and will open in late spring 2024. The company, operating 11 venues across the Ribble Valley, Lune Valley, Yorkshire Dales, and the South Lakes, aims to grow and continue its journey in the hospitality sector. Bowland Inns and Hotels founder James Warburton noted the importance of finding the right funding partner and praised Oak North for its flexibility and regional market knowledge.
The Irish Hotels Federation (IHF) has expressed “deep disappointment” with the lack of measures in Budget 2024 to address the increasing business costs in the tourism and hospitality sector. IHF president Denyse Campbell highlighted the need for a fundamental restructuring of employers’ PRSI to alleviate the significant labour-intensive business costs. She emphasised the sector’s unprecedented increases in operating costs and the negative impact of the recent rise in tourism VAT, which now stands at 13.5%. The IHF had also sought greater government commitment to sustainability initiatives within the hotels and tourism industry but expressed regret over the limited movement in this regard.
Adam Davie, the general manager at DoubleTree by Hilton Oxford Belfry, has unveiled a new vision for the four-star hotel following its recent refurbishment and relaunch. The refurbishment, which included the conference areas, restaurant, and bar, amounted to £500,000. Davie, with extensive experience in the hospitality industry, has set out a development phase driven by team members’ involvement and a focus on supporting the local community. The hotel remains dedicated to providing exceptional experiences for its guests and is planning further investments in refurbishments, including bedrooms, event spaces, and conference facilities. Additionally, the hotel is partnering with organisations like the RedKite Foundation, participating in local sustainability programs, and donating essential hygiene products to local homeless charities.
