Tottenham have stated that the hotel and residential projects within their stadium complex will be "ultimately developed when appropriate".
After releasing their annual financial results earlier this month, the club have since published the full 52-page document which touches on current and future projects. When the plans for the Tottenham Hotspur Stadium were approved, they included ones for an 180-bedroom hotel and an extreme sports centre on the south side, a community medical centre on the north side as well as proposals for up to 1,000 new homes and commercial spaces surrounding the complex.
Within the financial results, one page states: "The Northumberland Development Project is now substantially complete with Lilywhite House and the opening of the Tottenham Hotspur Stadium. There are a number of projects at the southern end of the site (hotel and residential) which will be ultimately developed when appropriate."
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Within the document, Spurs also set out how the club operates and the financial consequences of recent years.
"The principal activities of the group continue to be the operation of both a men's and a women's professional football club in England together with associated commercial activities. In addition, the group continues to acquire and develop properties associated with the Tottenham Hotspur Stadium development to enhance the surrounding area of the stadium," read the statement.
"The 2021-22 season saw fans return to the stadium following the previous season being played predominantly behind closed doors. The second half of the season started to see a return to pre-pandemic levels of attendance and overall activity in the various business areas.
"The comparative season in the statements, the 2020-21 season, was severely disrupted by the global pandemic caused by COVID-19 and consequently the season was played predominantly behind closed doors resulting in lost matchday revenue. In addition retail stores were closed, stadium tours and conferences and events were halted for between four and six months in the period, and none of the contracted summer concerts and events were able to take place.
"In the current period the NFL returned to the stadium, and it was able to host the boxing match between Anthony Joshua and Oleksandr Usyk, the Rugby Union match between Saracens and Bristol Bears and the Rugby League Challenge Cup Final. In the summer post year end the first concerts were hosted, with Guns N Roses and Lady Gaga performing shows postponed since 2020. The club also launched SPURSPLAY post year end, an original content subscription service.
"The directors continue to monitor the potential risks to the UK economy of the COVID-19 pandemic and of the UK leaving the European Union and the impact these may have on the club's revenues, commercial activities, cost base and foreign exchange exposure, but believe that the club is sufficiently robust to react to change.
"The men's team ultimately finished the season in fourth place in the Premier League, securing Champions League qualification. The women's team finished fifth in the Women's Super League.
"The group will continue in the operation of a professional football club, deriving its revenue from media, sponsorship and commercial activities and also provide a host of additional events at the Tottenham Hotspur Stadium to enhance the continued investment in football at all levels."
The financial results also discuss the long-term sustainability of the club and the viability of its business model going forward.
"Our business model going forward allows the group to be less reliant on football revenues," it said: "While the operation of a professional football club remains our principal activity, the construction of the Tottenham Hotspur Stadium has enabled our business model to focus on new and diversified revenue streams.
"We have non-football events booked for the 2022-23 period such as music concerts and non-football sporting events (including NFL and Rugby Union) with the profits from non-football activities going back into the club to support the football team.
"We have also increased our focus on utilising the stadium to its full potential, through our conference and events department and restaurants, as well as non-matchday visitor attractions like our stadium tours and The Dare Skywalk.
"The group's adherence to UEFA and Premier League Financial Fair Play rules ensures sustainable, responsible and transparent spending."
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