A controversial asylum hotel in Epping has become a major cash cow for Australian businessman Jamie Pherous, who is estimated to be worth £300 million.
Pherous, previously known for the ill-fated Bibby Stockholm migrant barge, continues to profit from Home Office contracts worth more than £1.6 billion, despite past scandals and public scrutiny.
How the Money Flows
Pherous’s UK operations reportedly made over £100 million in profit between 2022 and 2024 alone.
Even after the Bibby Stockholm project was abandoned due to a deadly legionella outbreak in 2023, his firm, Corporate Travel Management (CTM), is still generating millions by housing and transporting asylum seekers across the country.
From Brisbane, Queensland, 10,000 miles away, Pherous appears to enjoy a luxurious lifestyle funded in part by British taxpayers, including yearly helicopter skiing trips to Alaska and globe-trotting business trips spanning Singapore, Hong Kong, London, and New York.
Local Opposition Mounts
The Bell Hotel in Epping, one of over 50 properties CTM has booked for asylum seekers, has become a flashpoint for protests.
Tensions rose after 41-year-old Ethiopian asylum seeker Hadush Kebatu, who arrived in Britain by small boat, was arrested for sexually assaulting a 14-year-old girl just nine days after his arrival.
Kebatu was convicted last week and awaits sentencing.
Local demonstrations demanding the hotel’s closure have spread nationwide amid concerns over the influx of 50,000 small boat migrants since the Labour government took office last year.
Although Epping Forest District Council secured a temporary closure order, a Home Office appeal has kept the hotel open, and protests continue.
Corporate Travel Management’s Role
CTM manages accommodation, transportation, and meals for asylum seekers, but has faced criticism for reportedly targeting high profit margins on some contracts.
The company has previously boasted of profit margins exceeding 32%, sometimes expected to reach over 50% for UK migrant housing.
Pherous, 56, founded CTM in Brisbane in 1994 with just one colleague and a single computer.
After working as a chartered accountant for Arthur Andersen in Papua New Guinea and the UAE, he turned his attention to business travel logistics, growing CTM into a global company with 3,200 employees.
A Lavish Lifestyle Amid Public Scrutiny
Despite managing UK asylum contracts, Pherous’s lifestyle seems far removed from the day-to-day operations.
Married to Louise with five sons aged 19 to 25, he has openly spoken about prioritizing family time, surfing before work, and annual heli-skiing trips in Alaska, hiring £15,000-a-day helicopters to access remote slopes.
His four-storey, £10 million riverside mansion in Brisbane, complete with two pools and a rooftop, has stirred resentment among neighbors.
Pherous also marked his 50th birthday with a performance by Australian rock star Jimmy Barnes, reportedly costing £75,000.
Critics Condemn Asylum Profits
Campaigning charity Refugee Action has criticized CTM for “profiting from refugees’ misery,” dubbing the system part of an “asylum-industrial complex.”
While the company claims to act responsibly and ensure value for taxpayers, local residents and advocates argue that the arrangement prioritizes profit over welfare.
A CTM spokesperson told reporters that the company “works closely with Government on the Bridging Accommodation and Travel Services contract,” asserting that there are no specific profit margin targets and that their responsibility is limited to accommodation logistics, transport, and meals—not direct duty of care.
Controversy Looks Set to Continue
With ongoing protests, legal challenges, and public scrutiny, Pherous’s UK asylum operations remain controversial.
Yet for the tycoon in Brisbane, the business continues to be highly profitable, raising questions about ethics, oversight, and the role of private firms in managing public services.