I want to share the Newcastle Jesmond Hotel on how Luke Stays saved the hotel. When it was struggling to keep operating 7 days a week. Due to low booking demand for this beautiful hotel, we reached an amazing deal between us. Luke Stays and Jesmond Newcastle Hotel are now under a deal so we could both win.
A 21-bedroom hotel in the heart of Newcastle, which was left unoccupied for the majority of the week.
It didn’t make sense.
So, what did I do? We worked 5 months on this hotel with hotel owners, and we reached a great deal that can benefit both ways. And gladly we can say, we managed to keep this cool hotel working in Jesmond Newcastle Upon Tyne.
THE FIRST Hotel In Our Company Portfolio
Introducing THE FIRST hotel in our company portfolio, following months of hard work and negotiation.
Five months ago, I was presented with a scenario that irked me for both of these reasons. But little did I know that something which started off as a general business enquiry to Luke Stays would cascade into one of our company’s biggest milestones, as well as a huge learning opportunity for me.
“We cannot afford to open the hotel 7 days a week”. The call came through from Newcastle Jesmond Hotel back in 2021. They reached out to me and my team for help with the business management side of things.
This is a huge milestone for Luke Stays. It also has been a major learning experience for me – both personally and professionally.
I’m incredibly proud of this first hotel acquisition!
The call came through from Jesmond Hotel Newcastle back in 2021.
Jesmond Hotel’s Story
Despite its prime location, the hotel could only afford to open on weekends (and subsequently, remain closed Monday to Friday) and was seriously struggling to keep things afloat.
However, it gave me little time to consider all the nitty-gritty of actually getting the deal over the line. It was weeks’ worth of reviewing and re-reviewing contracts, as well as all the small print, and ‘dots and crosses’ on every single term, from a hugely detail-orientated owner.
By nature, I am not the most detail-oriented person; so this was a challenge for me. Though I knew it was something I had to get past, in order to acquire the hotel successfully. That’s business sometimes – you have to take the good with ‘the bad’.
During the negotiation process, we had the Christmas break, solicitors going on holiday, and a huge rise in costs and utility bills – which to this day, has the entire industry nursing their wounds. So, I’d be lying if I said there were no occasions when I hadn’t been tempted to discontinue the acquisition altogether and wait till an opportunity with less friction came along.
But while the process tested my resolve at the best of times, it was an excellent opportunity for me to learn more about my own strengths and weaknesses (many of which were new to me).
The Great Part From The Story
In retrospect, I think it was the moments when I felt most frustrated, where I did the majority of my learning – as such, even the setbacks were glorious blessings in disguise. I also had a fantastic team supporting me throughout the entire journey, who helped keep me motivated and on the right track.
So, when this enquiry came in, I was confident that we could put the right systems, processes and management practices in place, to aid the smooth and profitable running of the hotel – unlike what it had recently experienced.
Regardless of its history, I realised that there was no reason why this property couldn’t thrive just as well as its neighbouring hotels and serviced accommodation providers (which I had actually researched myself).
And so, with all this in mind, I decided to take on the FIRST hotel in our company portfolio.
Before I knew it, the hotel team and I were exchanging contracts.
The Deal Was Done on Jesmond Hotel
The first hotel of our property portfolio; and an incredible one at that. It has truly felt like a colossal milestone and one that I’m determined to continue growing and evolving from. Our plans for Newcastle Jesmond Hotel include making it as cost-efficient as possible, and ultimately ensuring that it runs like a well-oiled machine.
We will automate large parts of the business, such as the check-in and check-out process, guest monitoring and guest transaction(s); and focus on offering great value-for-money hotel rooms only – minus the responsibility (and costs) of an added restaurant and bar.
Our very experienced in-house team will take care of all the management side of things, and all the other duties that come with running a successful hotel business. Most importantly, we will put the correct systems and processes in place so that business continues to tick over throughout the year, even without our physical presence.
This is what I feel the future of business is.
What’s more?
Technology aids hospitality – it doesn’t ‘kill’ it. Since acquiring the hotel, we have already received several bookings and the upcoming season is looking financially healthy for sure. This business was certainly not destined to be ‘closed’ five days a week. And I’m delighted that my team and I are continuing to prove this every day.
Five tough months on and I’m incredibly proud to share that we’ve got this deal over the line. YES.
It just goes to show where self-belief, hard work and teamwork can get you.
So looking for your next weekend away? This is what you can expect from a weekend in Jesmond. With numerous bars and restaurants along Osbourne road, you’re bound to have a great day or night out. Also spend the day at Jesmond Dene Park, exploring the greenery and streets of Georgian and Victorian homes.
Or head into Newcastle City Centre, with plenty of transportation and only a 6-minute drive to the centre. Jesmond is the perfect place just outside of the city for you to enjoy your stay!
Check out the Jesmond Hotel in Newcastle– this is a massive achievement for us that we’re extremely proud of.