Business & Investment

Billionaire businessman Jim Ratcliffe injects £ 3.3 million into The Pig’s hotel

Billionaire businessman Jim Ratcliffe will inject £ 3.3 million into the pig hotel chain to help fund its expansion


Billionaire businessman Jim Ratcliffe has injected £ 3.3 million into the pig hotel chain to fund its expansion.

Ratcliffe, the founder of the petrochemical group Ineos, owns 50% of The Pig’s hotel business. He invested in this group last year when he opened two new boutique hotels in Madehurst, Harlin Bay, Cornwall and West Sussex.

Promoting Expansion: Jim Ratcliffe, the founder of the petrochemical group Ineos, owns 50% of The Pig’s hotel business.

The investment revealed in the new company’s documentation means that Ratcliffe has loaned £ 34.8m to the company from £ 31.5m in 2019.

The Pig Group specializes in hotels and Grade II Listed Buildings during the period of Southern England.

Last year, when trade was affected by the Covid blockade, seven hotels suffered a pre-tax loss of £ 1.1 million, with a loss of £ 219,000 in 2019. Revenue decreased 17.5% from £ 26.1m to £ 21.5m. At the height of the pandemic, the group was temporarily dismissed by more than 800 staff.

The director said that when the hotel was open, guest demand was “exceptional”, with an average occupancy of 92%.

Robin Hutson, CEO of The Pig Hotel, which was founded in 2011, said in July, after co-founding Hotel du Vin earlier, revenue would return to £ 40 million next year.

His Home Grown Hotels group also manages the Lime Wood Hotel in Hampshire, owned by Ratcliffe.

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Billionaire businessman Jim Ratcliffe injects £ 3.3 million into The Pig’s hotel

https://www.dailymail.co.uk/money/markets/article-10076157/Billionaire-industrialist-Jim-Ratcliffe-injects-3-3m-Pig-hotels.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Billionaire businessman Jim Ratcliffe injects £ 3.3 million into The Pig’s hotel

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