Gary Neville and Ryan Giggs-owned Hotel Football still in the red despite record sales
Hotel Football, which is co-owned by Gary Neville and Ryan Giggs, remains in the red despite achieving a record year.
The hotel, which is located in the shadow of Manchester United’s Old Trafford stadium, has reported a pre-tax loss of £601,030 for 2023 after also making a loss of £630,158 in 2022.
The loss comes despite Hotel Football’s turnover rising from £6.4m to £7.8m in the year, according to newly-filed accounts with Companies House.
The hotel’s turnover from its rooms increased from £3.4m to £4.4m while its food and beverage earnings rose from £2.7m to £2.9m.
Alongside, Neville and Giggs, Chan Lay Hoon, a Singaporean financial advisor who oversees the investments of Peter Lim, is also a director of the company that runs the hotel.
As well as Hotel Football, Neville and Giggs also own the Stock Exchange Hotel in Manchester city centre.
Fewer Manchester United home games hits 2024 sales at Hotel Football
A statement signed off by the board said: “Following the post-Covid turnaround in 2022, the company enjoyed a successful year in 2023 achieving the best financial metrics since it opened its doors to the public in 2015.
“The director’s commitment to maintaining the quality of the hotel, the engagement of the team and the overall quality of the delivery of brand standards continues to be successful with the result being the strong performance delivered by the hotel.
“The approach taken within the company has led to Hotel Football maintaining its leading position in the area of guest satisfaction with excellent feedback scores achieved throughout the year.
“As importantly the team engagement scores continue to be extremely high when compared not only to the hospitality industry but also to other industries.
“This is considered very important as it ensures a high level of team retention.”
On its current trading, the hotel said: “2024 has started off positively for the hotel and, despite the considerably lower number of Manchester United home games, which has an impact on the hotel’s revenues, conversion to profit remains healthy and the hotel expects another good year overall.”