The renowned hotel was recently in the spotlight when it hosted senior Conservative politicians during the party's recent annual conference which was staged at nearby Manchester Central
The owner of one of the most luxurious hotels in Manchester lost almost £60m despite its turnover nearly doubling, new documents have revealed.
As well as the Midland, the company runs two other Leonardo hotels in Manchester and is on the lookout for future sites in the city. Fattal Hotels was founded by David Fattal who built a fortune of around $1.3bn after setting up his hotel chain in 1998.READ MORE: Inside Gary Neville's brand new school - as expansion plans revealed
The group has hotels in the North West, North East, West Midlands, London, South West and Scotland and increased its headcount from 2,349 to 3,092 in the year. The Midland Hotel was recently in the spotlight when it hosted senior Conservative politicians during the party's annual conference which was staged at nearby Manchester Central.
"Whilst turnover has increased dramatically, operating costs increased substantially as inflation reached record high levels and the impact of the war in Ukraine led to energy costs rising. Whilst the market continues to grow and as a company one new hotel was opened during the year in Manchester, cost control is a key focus in order to manage cashflow in the face of increasing costs."
Belgique Dernières Nouvelles, Belgique Actualités
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