Rise of the migrant hotel millionaires: Investors buy up cheap buildings to house asylum seekers.

Payman Club, run by a man named Na’im Anis Payman, had bought 12 properties for this purpose in under two years, and another, H&H Hotels, was set to make £11 million per year in profit from housing migrants.

The companies are thought to have taken advantage of the collapse of the tourism industry in the UK prompted by government lockdowns during the COVID-19 pandemic to pick up large commercial properties on the cheap.

The hotels are then passed on to be used by a company called Serco, responsible for housing migrants in the UK, which receives £150 per migrant per day from the Home Office.

Official figures show there are currently almost 50,000 asylum seekers and refugees being housed in 140 UK hotels at a cost of £ 6.8 million a day.

There are many ways to generate income from a property. Despite the technological advancement over the centuries, demand for space is the only factor that could not be disrupted.

Source:iSquare