Don’t mention the war! Council moves into the hotel trade
KEN LEE, Town Hall reporter, on the council’s latest wheeze to generate a bit of spare cash by buying up a loss-making hotel
‘Hello! My name’s Tony. Welcome to the Croydon Park Hotel…’
The council has bought the Croydon Park Hotel, the 4-star, 55-quid a night tower that’s well-used by Gatwick airport staff and handily placed for the law courts.
What could possibly go wrong?
Property industry experts reckon that the deal could have cost Croydon Council in the region of £20million, using money borrowed from the Government’s Public Works Loans Board.
The Town Hall brains trust reckons that, by turning council leader Tony Newman into a latter-day suburban Basil Fawlty, they can make about £1million per year to top up their revenues from Council Tax.
Yet the hotel’s then owners sold it in 2017 after it had made a loss in the previous six months’ trading, and there has…
View original post 773 more words