Fortune Favours the Hospitality Industry in 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 manufacturers comes to light.

The Reuben Brothers have a fortune of around £14bn

Brothers David and Simon Reuben have investments in 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 on 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 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. Find out by calling us on 0113 25000377, and we’d be happy to provide you with the information you need.