The 128-room Council-owned hotel opened in February 2019 and posted healthy profits at the end of its first full year.
The Covid-19 lockdown hit in March 2020 but the hotel stayed open to accommodate key workers as part of a national agreement between the NHS and Hilton.
And with this financial year reaching an end, it’s on track to contribute around £250,000 to the Council’s finances thanks to profits, business rates and other income.
“The hotel has bounced back from the pandemic very nicely,” said Councillor Bob Cook, Leader of Stockton-on-Tees Borough Council. “It’s performing very strongly indeed and it’s generating income which we are putting back into running vital day to day services for people in the Borough.
“Generating income was always a big part of the plan – like lots of other councils, we viewed this as both a regeneration project and one which could also bring in funds to offset a small proportion of the cuts we’ve faced in recent years.
“What’s crystal clear is the hotel was flying before the pandemic and it’s flying again now. Like all hotels, it suffered during the first year of the pandemic but now we’re seeing the kind of benefits it brings.
“It’s had more than 30,000 room bookings this year, with more than 40,000 guests staying, which is great for the local economy. The occupancy rate is around the 71 per cent mark and in some weeks it has been higher than it was before the pandemic.
“It’s got brilliant visitor reviews and ratings across the likes of Tripadvisor, Expedia and Booking.com.
“Of course, the hotel’s primary focus is business travellers and there’s strong demand from the construction and engineering sectors in particular.
“But hotel management are also reporting surges in out of town guests whenever there are big acts on at the Globe, and we’ve even had some of the stars themselves staying at the hotel, often alongside their crews and in some cases, large entourages.
“It’s also employing local people, both directly and through the jobs it generates in the supply chain. And it’s hosting all sorts of groups and meetings including business networking events and support groups for people with dementia.
“So all in all, it’s looking very positive. We want to see it go from strength to strength and we hope people keep on getting behind it.”
For Council news direct to your inbox sign up to our My Council Newsletter.