Business is looking good for the hospitality industry, with multiple representatives from the industry
making the Sunday Times 2017 Rich List.
It appears that the hospitality industry can be a rewarding vocation in more ways than one
as the sheer wealth of investors and food manufactures comes to light.
Brothers David and Simon Reuben have investments in a larger hotels, both at home and
abroad, as well as fully-owned boutique establishments. Their fortune of £14bn – bringing in
£900m just last year – puts them in at number three in the famed Sunday Times Rich List for
2017.
The family theme continued with Galen Weston and his nephew George, who also gained a
high entry. Between them, the food and drink moguls stake a claim to well known brands
Twinings and Silver Spoon, which are owned by Associated British Foods, run by George, as
well as supermarkets in Canada.
26-year-old Duke of Westminster, Hugh Grosvenor became one of the youngest entries all
round. He took the helm of the Grosvenor estate which includes the Chester Grosvenor
hotel and the Beaumont hotel in London when his father Gerald died last year.
There were notable entries further down the list. At 460 was Britannia Hotels founder Alex
Langsam aka ‘The Asylum King’. He has been housing refugees from Eritrea, Somalia, Sudan,
Syria and Afghanistan in his budget hotels, facilitated by a lucrative Home Office contract.
Rich list newcomer Alfie Best made his £160 million fortune through caravan parks. The
Romany gypsy, who was born at the side of the road, left school at 12 and started his first
business at 16, made it to 640 on the list.
The variety of entries under the hospitality sector shows the vast range of opportunity, and
subsequent risk. If you have a stake in a hotel or run your own establishment, you might
want to know which insurance cover applies to you. Lockyers are happy to quote for any hospitality business insurance. We work with most UK branded insurers and utilise our buying power to design a bespoke business insurance solution for the most complex requirements, helping you get the right protection at the right price.