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Losses at Savoy Hotel widen as major renovation continues
Paisley Daily Express
|October 14, 2025
THE Savoy Hotel has reported an increased pretax loss of £19.6 million for 2024, up from a loss of £17.5m in 2023, as it embarked on a significant renovation project and reduced its workforce.
The Savoy Hotel in London
(John Keeble)
The last time the five-star London hotel posted a pretax profit was in 2006, when it reported earnings of £5.9m in the six months to the end of the year and £7.3m for the year to 30 June. Since then, the hotel's losses have exceeded £554m.
Recent filings with Companies House reveal that the hotel’s revenue dropped from £63.3m to £59.7m, while its staff numbers decreased from 500 to 444.
This story is from the October 14, 2025 edition of Paisley Daily Express.
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