Issue - meetings

1.

Title of Item/Report

Stockton Hotels Company Limited and Stockton Borough Holding Company Limited Annual Report

2.

Record of the Decision

Consideration was given to a report that provided an update on the performance of Stockton Hotels Company Limited and Stockton Borough Holding Company Limited and enabled Cabinet, in its capacity as shareholder, to consider both the financial performance of the companies and the wider economic and regeneration outcomes associated with the Council’s investment.

RESOLVED that:-

1. The performance of the HotelCo for the financial year 1st April 2024 to 31st March 2025 be noted.

2. Lisa Tague, Strategic Finance Manager be appointed, as a council appointed director of both companies.

3. The appointment of further Council Officers to the board of both companies be delegated to the Shareholder Representative in consultation with the Cabinet Member for Resources and Transport.

4. The appointment of the non-executive director to the board of directors for HotelCo be delegated to the Council’s Shareholder Representative in consultation with the Cabinet Member for Resources and Transport.

3.

Reasons for the Decision

The Council is the sole shareholder of Stockton Hotels Company Limited and Stockton Borough Holding Company Limited. In addition to financial performance, the Council’s investment in the hotel was intended to support wider regeneration, economic activity and inward investment. This report therefore provides an opportunity for Cabinet, as shareholder, to consider the extent to which those objectives continue to be met and to provide strategic direction to the companies.

4.

Alternative Options Considered and Rejected

None

5.

Declared (Cabinet Member) Conflicts of Interest

None

6.

Details of any Dispensations

None

7.

Date and Time by which Call In must be executed

Midnight, 1 May 2026