Gary Neville sees Manchester hotel’s £1.4m losses boosted as Madonna books all 40 rooms
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Manchester United legend Gary Neville enjoyed a prolific football career with eight Premier League titles to his name and the full-back has gone on to emulate that success with a busy professional life since hanging up his boots.
The 48-year-old is widely regarded as the most notorious Sky Sports pundit, he's a member of the Labour Party and owns an enviable business portfolio after years of investments - with enough respect to his name to be booked as a guest on an upcoming series of Dragons Den.
The latest step in Neville's relentless pursuits away from football comes as Madonna brings her team and touring circus to stay at the ex-Red Devils man's Manchester hotel to prepare for her upcoming Celebration Tour.
The pop icon is due to embark on the delayed worldwide tour on Saturday after suffering a health scare earlier this year. Madge will play five nights at London's O2 with a string of European shows in between. The tour will then hit the United States later this year.
Madonna touched down in Manchester this week to get some last-minute rehearsals in and chose Neville's hotel in the North West to call home. The pop star is reported to have rented out the entire Stock Exchange Hotel for her preparations. Neville owns a major stake in the business alongside former Manchester United teammate Ryan Giggs.
The 'Like A Prayer' singer is said to have rocked up to the hotel with three vans full of gear, including three Peleton bikes to keep her health in tip-top shape ahead of the gruelling tour schedule. Despite the entourage, Madonna has kept a relatively low profile as she resides Chez Nev, only snapped leaving and entering the Stock Exchange Hotel in baggy black clothes and a hood over her head.
The superstar's visit to the hotel comes at a good time for the business, which was recently reported to have seen losses widen in 2022 despite an increase in revenue. The Caterer reported that the hotel recorded pre-tax losses of £1.4 million from the year to December 2022, up from a loss of £1 million the year previous. Revenue had nonetheless increased from £4 million to £5.3 million with gross profit rising to £1.9 million from £1.5 million.
Giggs and Neville helped open the 40-bedroom hotel in the Grade-II listed building in 2019.
In accounts published to Companies House directors Giggs and Neville said: "The directors have continued their policy of investing in the hotel to improve operational performance and to promote the ‘Stock Exchange' brand even post the pandemic year. The directors feel that whatever the case, the quality of the brand and of the property they manage cannot be sacrificed. There is a strong focus on always investing and enhancing the consumer experience and providing a high level of service.
"Financial year 2022 continued to be a year of the ‘unknown', especially in the beginning six months because of the pandemic but also because the challenges around inflation and the labour market continue to this day. One also needs to not underestimate the significance that the hospitality sector is still regarded as a high-risk industry by the financial markets in general and by employees.
"For 2023 the directors are looking forward for the hotel to get back to the performance pre the Covid pandemic with a healthy performance in rooms and F&B where forecasts are showing a positive positioning for the hotel in terms of average room rate (ADR), occupancy, EBITDA and cash generation, Figures are very encouraging, whereby the property has achieved record ADR's as well as outperforming its competitors."