Monday, Apr 12, 2010
Everything that's wrong in this country?
Times online: Savoy upgrade £1.6 million per room
50% owned by hbos which is 41% owned by the taxpayer...quite how you can charge £1.6 million per room is beyond me..sounds like a total rip-off....you could build a housing estate for that and why is hbos got anything to do with this?
Posted by taffee @ 09:37 AM (501 views) Add Comment
5 Comments
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1. the number cruncher said...
I have been to a couple of functions at the savoy and loved the old Art-Deco wood panelling and features - it was showing its age but it was beautiful and let me step into the world of Jeeves and Wooster. Then again I'm just a pleb, so what do I know.
2. Tochinoki said...
Pfft, I'd have done it for half that for 'em.
3. cyril said...
£500 for a room for the night = £3000 a week = £150,000 a year. Pay back in £10 years. That is assuming there are no running costs. Uh?
4. layers said...
@3 cyril - yes but you're assuming that all and only income is derived from renting rooms. Dinning, functions, etc., would all significantly add to the revenue / profit stream. However, an article a few months ago stated that the cost for the rennovations had doubled, so they're probably taking a fairly hefty hit.
5. taffee said...
the point of posting this article was that it shows how banks and funds are ripped off....just like the olympics rip-off
'we had to roll back 121 years of shoddy refurbishment'
yeah right....worked for 121 years though