is an esteemed luxury hotelier with a career spanning , and . Fergus returned to London in 2021 and he has been CEO of which includes and .
How have your properties performed in 2024 and what are your expectations for the rest of the year?
We are having a record year in all of our properties. We have not met our budget targets but total revenues have exceeded our previous best year.
What is your view on the evolution of rates in London’s very competitive luxury hotel sector?
At The Landmark we have found ourselves in a very “sweet spot”. The rates in Mayfair and Knightsbridge have reached a level that exceeds most other European capitals and are being questioned if they remain value for money. With our renovations to the public areas, Champagne Bar and our Signature suites we have a product that can satisfy most clients but at a more competitive price.
Marylebone as a district is becoming very fashionable and we are finding it easier to take guests from their more traditional habitat. Our guests come from those looking for better value from the more traditional luxury hotels but also from those aspirational guests looking to move up. Our room sizes are some of the largest in London and space today is an essential luxury.
Has the guest profile changed? (If in any way) – post-pandemic.
Traditionally we were seen as a corporate business hotel with exceptional meeting and event spaces however today we have moved far more into the leisure segment. Our Winter Garden with its exceptional atrium, our enhanced restaurant offerings and our service levels allow guests to feel they are on vacation whilst in the centre of London
Which are your key feed markets?
We are exceptionally strong in the UK market and we have worked very hard to achieve this. Immediately after the pandemic we made a bold decision to open all rooms and all restaurants despite the potential of financial loss. By doing those we grew market share and created very strong bonds with our suppliers and supporters which enabled us to take business from our competitive set. Post pandemic we have moved up 5 places in our competitive set.
We are also strong in the Middle East and the USA. Asia has been growing too.
Is luxury perceived differently?
Indeed! We find our European guests really appreciate the elegance and tradition of our building and our nod to the 125 years of history. They appreciate the sophisticated design and cultural heritage and the attentive service that goes with it.
Our Middle Eastern guests prefer opulence and grand spaces with gold accents and a feeling of luxury. Our Asian guests greatly value our exceptional dining options in particular our award winning Afternoon Tea. We work hard to satisfy all these demographics.
How do you balance desirability and value?
Desirability focuses on our location, service quality, celebrity endorsements and our cultural significance. We are a Grande Damme hotel with a phenomenal history behind us. As the custodians of this building it is our role to maintain this heritage and make it an exceptional location for our guests to reside.
Providing value is very important to us in such a competitive market. Cost is important but value comes from providing exceptional room quality, attentive but unobtrusive service coupled with unique amenities and experiences.
We are a fully independent company owned by one family. We are not burdened by outdated brand standards where one size fits all or by corporate office instructions whereby profit is the most defining mantra. We are able to react quickly and nimbly to market conditions and focus on the long term value of our guests rather than short term gain.
Many luxury hotels are still challenged by staffing. What has been your approach?
As an independent company we are flexible on our pay structure. We encourage promotion within, flexible working hours and in some cases 4 day working weeks. Whilst still a challenge we feel very proud of our team many who have styed with us for many years.
What novelties should we expect for the rest of the year and 2025?
In the past 24 months we have renovated our public spaces, opened our new Champagne Bar and Cigar terrace, renovated fully our signature suites and installed brand new kitchens and employee dining facilities. Our work will now continue with a complete renovation of our Spa and Wellness facilities. We are working with a renowned spa consultant and hope to start this work early 2025. We will also fully renovate our Presidential Suite and adjoining rooms to create a truly exceptional residential space.
This year marks the 125 years anniversary of The Landmark. are more details about the anniversary.
Fergus Stewart CEO The Lancaster Landmark Hotel Company
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