Industry News Premier Hospitality

Rapid SME funding ahead of Platinum Jubilee celebrations

Aspire Executive Lounges, Swissport's global airport hospitality brand, has joined the British Institute of Hospitality, the world’s leading and award-winning membership body for hospitality professionals. Aspire Executive Lounges becomes the first business partner from the airport lounge hospitality sector to join the Institute of Hospitality. Aspire Executive Lounges, the fast-growing Swiss brand in the airport hospitality business, has joined the British Institute of Hospitality (IoH), the world’s leading membership body for professionals working and studying in the hospitality leisure and tourism industry. Aspire Executive Lounges is the first business from the airport lounge sector to become a member of IoH. The collaboration will foster an exchange of expertise and insights: IoH will benefit from Aspire's expertise in airport hospitality, while Aspire, by sharing its wealth of experience with IoH members, can extend its professional network to the hotel and catering sectors and hospitality management schools. “Our vision for Aspire Executive Lounges is clear and simple: We want to deliver a guest experience that is similar to what our guests are used to from their preferred hotels, meeting the needs and exceeding the expectations of today’s travelers,” says David Collyer, Global Vice President of Executive Lounges at Swissport International AG. “We strive to deliver an unparalleled experience and set a benchmark that transcends our industry, redefining excellence across the hospitality sector. The Institute of Hospitality is a great network to exchange insights and experiences, and to learn from others in the hospitality sector, which will help us bring our vision to life.” Robert Richardson, CEO of the Institute of Hospitality: “Our aspiration at the Institute of Hospitality has been to develop and grow our membership, the number of countries we operate in, and the number of hospitality sectors represented within our organization. With that in mind, it is a natural partnership for us to welcome Aspire into our family, and to learn from their teams, who serve travelers with passion and dedication. As two organizations with similar values, we look forward to collaborating in promoting high levels of excellence within our profession.” With over 30 years of experience, Aspire Executive Lounges is Europe’s largest brand in the airport lounges sector. In 2023, Swissport welcomed more than five million customers worldwide at over 69 lounges in 20 countries. The airport hospitality brand recently opened new lounges at Toronto City Airport in Canada, and Helsinki-Vantaa Airport in Finland. Aspire Executive Lounges recently created a new lounge concept in partnership with the airline alliance oneworld. The first oneworld branded lounge was launched at Incheon Airport in Seoul, Korea, in December 2023. Aspire Executive Lounges is owned by Swissport International AG, the global leader in aviation services, serving airlines at 286 airports in 44 countries across 6 continents
Written by Amy

SMEs up and down the country are currently preparing for Her Majesty The Queen’s Platinum Jubilee bank holiday weekend, with many planning to maximise business opportunities with the help of extra funding – particularly in the hospitality and entertainment sector.

365 Business Finance, one of the leading providers of fast and flexible SME funding in the UK, can supply finance within 48 hours and is still taking applications ahead of, and in time for, the Platinum Jubilee celebrations.

With no APRs or fixed monthly payments, and a 64% average increase in cash flow for hospitality and entertainment businesses over long bank holiday weekends*, such funding has proved an extremely popular and easy way to plan and pay for extra stock, staffing, and decorations in the build up to landmark or seasonal occasions.

Managing Director at 365 Business Finance, Andrew Raphaely, said, “For businesses in the UK, the Jubilee weekend is set to be an incredibly busy time – bringing with it a welcome boost in takings to kick-start the summer. Summer is also the season, according to our data, that accounts for a 33% uplift in sales revenue for hospitality and entertainment businesses, in comparison to the spring.”

In addition, the London-based lender recently reported a 42% increase in the average amount funded for the hospitality industry in 2021, compared to pre-pandemic levels in 2019. Pubs, bars, restaurants, hotels and B&Bs are expected to benefit the most from the Queen’s 70-year reign celebrations, with funding levels for such SMEs anticipated to rise this year.

To help the nation celebrate, 365 Business Finance has put together a guide on how SMEs can get the most out of the Platinum Jubilee bank holiday, taking place 2 – 5 June: Platinum Jubilee Bank Holiday Guide.

For further information on the application process for £10,000 up to £300,000 of unsecured business funding, with no interest rates or APR, go to www.365businessfinance.co.uk.

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Amy