Gary Neville and Ryan Giggs' Hotel Football made £1.15m loss last year

Gary Neville and Ryan Giggs' Hotel Football in Manchester narrowed losses last year, reporting a £1.15m pre-tax loss compared to £2.04m the prior year.

Documents filed for the Old Trafford Supporters Club, which owns and operates the hotel, show that turnover grew from £1.55m in 2020 to £3.56m in 2021, although remained impacted by Covid-19 restrictions.

The report said the hotel's performance in rooms and F&B was healthy so far this year, with forecasts showing a "positive positioning" in terms of average room rate, occupancy, earnings before interest, taxes, depreciation and amortisation and cash generation, and "very encouraging" figures, including record rates. Cash flow forecasts indicated the company will have sufficient funds to meet its liabilities this year.

However, the report also said that inflation was the main risk for the business this year and its effect on the disposable income of customers, as well as its subsequent impact on labour costs.

"One also needs to not underestimate the significance that the hospitality industry is still regarded as a high risk industry by the financial markets in general and by employees," said a statement from Neville within the financial report.