Hotel Football, co-owned by Manchester United legends Ryan Giggs and Gary Neville, is in financial turmoil.
According to The Sun, the hotel has lost a staggering £3.2m in just two years. Even worse, the establishment that overlooks Old Trafford owes more than £10m in debt it acquired through loans.
These financial troubles are escalating while Giggs is currently facing a possible retrial for charges of assaulting his ex-girlfriend.
Hotel Football, which prides itself on being a fan-favourite, has been exposed this week in filed business accounts as a struggling entity that is rapidly losing revenue.
“Old Trafford Supports Club Ltd, the pair’s company behind the business, lost an eye-watering £1,148,879 in 2021 and a further £2,042,812 in 2020.”
“The firm also pulled a restaurant from the National Museum of Football to save cash, documents have revealed.”
Neville attributed the losses to the pandemic, which had also affected other businesses.
He told The Daily Star that in addition to their bookings and finances being affected by the pandemic, “challenges around inflation and the labour market continue up to this day.”
“The directors have continued their policy of investing in the hotel to improve operational performance and to promote the Hotel Football brand even post the pandemic year.”
Giggs’s legal troubles are not the only thing that has tainted the image of the hotel.
A report in 2016 revealed that the hotel’s rooms were being used for prostitution.
On top of this, cocaine was also found in the toilets just one year after its grand opening. Tests revealed traces of the drug in the cubicles.
It may be some time before Hotel Football recovers. Giggs will not have his retrial until at least June of next year. This is after jurors failed to reach a verdict and the trial collapsed.
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