Advertisements

sed30's Blog

Railways & other things

Don’t mention the war! Council moves into the hotel trade

Whatever next!

Inside Croydon

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

Advertisements

Single Post Navigation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: