Losses shrink at Gary Neville and Ryan Giggs' Hotel Football
The football-themed hotel owned by Gary Neville and Ryan Giggs saw its losses shrink in 2022 as demand returned after the pandemic.
Hotel Football, which sits next to Manchester United's Old Trafford stadium, reported a pre-tax loss of £630,158, down from a £1.1m loss in 2021.
However, the hotel's turnover increased from £3.5m to £6.4m in 2022, almost on a par with the £6.6m reported in 2019.
Documents filed with Companies House show the Old Trafford Supporters Club, which owns and operates the hotel, discontinued its restaurant and events space at the National Football Museum in Manchester in a bid to cull "loss making areas of the business".
Writing in the accounts, Neville said the hotel had managed to "re-establish its financial performance at levels close to 2019".
"The fact that the team is largely the same went into Covid demonstrates the cohesion within the hotel and has ensure that unlike in other parts of the industry, the hotel has not suffered with significant recruitment costs associated with a transient workforce or had to rely on agencies to fill any vacancies," he added.
2023 is expected to be a "record year" for Hotel Football with revenue expected to exceed pre-Covid levels.
Filings show the hotel owns £10.2m to its parent company Orchid Leisure Limited, but it is not expected to have to repay this imminently.
Its ultimate parent company RSP Holdings PTE has said it will continue to provide funds needed by the company until at least May 2024 and "for the foreseeable future".
Neville's other hospitality ventures include the Stock Exchange hotel in Manchester and the £400m St Michael's development in the city centre which is set to include a hotel and a Chotto Matte restaurant.
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