Lewis Catchpole

💵 PPHE Hotel Group has refinanced its loan with Aareal Bank for Park Plaza London Riverbank, extending maturity from June 2026 to June 2030. The £95.8 million facility carries a fixed interest rate of 3.248% until June 2026; post-2026, 85% moves to a 5.72% fixed rate. The loan includes no amortization and maintains loan-to-value and debt service covenants. PPHE's portfolio is valued at £2.2 billion as of December 2024.

💸 In Q3 2025, 857 hospitality businesses, including hotels and restaurants, became insolvent in the UK, a slight 2.7% decrease from Q2's 881. Monthly insolvencies remain over 275. The Buchler Phillips Hospitality Index dropped from 197.3 in June to 191.9 in September. Key closures include Pizza Hut, shutting 68 restaurants and risking 1,200 jobs. The sector faces ongoing challenges with rising staff costs and consumer spending pressures.

🏠 Work has commenced on converting Phoenix House, Vauxhall, London into a 180-room Premier Inn. Whitbread signed a 30-year lease with Lambeth Council in March 2025, with planning consent in July. Construction is underway, aiming for an early 2028 opening, creating about 25 jobs. Located opposite Vauxhall Underground Station, the site is part of Whitbread's London expansion. The 10-storey, 7,469 sqm building was previously used by Lambeth Council. Strip-out is by Redhammer Demolition, ending Easter 2026.

🏠 Hewish Mill Holiday Cottages in Muddiford, North Devon, is up for sale at £2 million. This historic estate, dating back to 1751, spans 4.6 acres and includes a farmhouse and five cottages. The property, situated three miles from Exmoor and 25 minutes from beaches, also features gardens, a stable block, and EV charging. Domestic tourism saw a 16.3% rise in the first half of 2025, boosting market spending by 5.6% since 2022.