MacKenzie – PizzaExpress is as relevant as ever, harnessing the power of the brand is key challenge: Paula MacKenzie, chief executive of PizzaExpress, has said the 58-year-old brand is as relevant as ever, and that harnessing its power consistently across all channels is the key challenge. MacKenzie told this month’s Propel Multi-Club Conference that the current mood in the company, which operates a circa 360-strong estate in the UK and Ireland, was “buoyant and excited”. She said: “We had a strong July. August was really tough, really difficult to predict, but we've had a really strong run of it, the last 52 weeks have been really, really good for PizzaExpress. I think it helps having clarity in the organisation and I do try to keep things really simple. I’m also excited by the talent line-up that we've got internally. My winning formula is talent plus confidence plus alignment and I think that one's the really key one. That’s why I mention strategic clarity because if everyone's playing a different game, it doesn't matter how great your players are and how confident they are. If they're all playing a different strategy on the pitch then it's not going to work. With the team at PizzaExpress I feel like we've got those three in check.” On keeping the brand relevant, MacKenzie said: “I would say this but I think it's as relevant as ever. We're in the business of human connection and that is a universal truth. I don't know what is going to happen over the next ten years, whether that artificial intelligence, global wars, climate change, wealth, distribution, uprisings, all of that. I think it will be so different in ten years, none of us can even say what that might look like. I hang on to one truth, which is that within all of that there is a role for human connection and we are the brand I would say on the UK high street that has been doing that for the longest in the most compelling way, in the most relevant way that actually brings true multi-generations together. As you've grown up, you will have a PizzaExpress memory. And that's why it's relevant. Because you can spend millions or hours, depending on your resources, trying to create some of that and we don't have to create it. It's there. There are only one or two other brands that have that capability.” MacKenzie admitted the brand has sometimes shown up “as a bit schizophrenic” between its different channels – dine-in, delivery and retail. She said: “Harnessing the power of the brand is the key challenge. Hopefully if you have been to a restaurant recently you will have seen that brand world change, the look and feel, and you will see more of that in the back quarter of the year. I don't want to give the game away in terms of the small things and big things that we'll be landing. There is a cohesiveness you are going to see us show up across those different channels.” In terms of further growth, she said: “It’s two things – it's mental salience and its physical availability. So, the memory structures are there for PizzaExpress, the distribution points are essentially there. Could we be in more restaurants? For sure, but you combine those two things, you've got powerful growth.” MacKenzie’s presentation will be among the videos from the Propel Multi-Club Conference that Premium subscribers will be given exclusive access to on Friday (29 September) at 9am. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription. 

Sponsored message – talkSPORT partners with PubQuiz.com for must-play weekly quiz: The UK’s leading provider of smartphone quizzes, PubQuiz.com, has exclusively partnered with talkSPORT to bring a new weekly interactive sports quiz to hospitality venues across the UK, hosted by presenters from the award-winning sports radio station. With just 7% of weekly pub-goers currently visiting the on-trade between Monday and Thursday, the need to increase footfall and enhance customer experience has never been more important for pub operators. A recent YouGov survey stated the Great British pub quiz was the 18th most popular social activity to do (above going to the theatre) and it remains one the most popular search terms within Google on a weekly basis as quiz hunters scout out a top quiz nearby. The new weekly talkSPORT pub quiz will launch following the Aston Villa versus West Ham match on Sunday, 22 October and will be presented by an array of talkSPORT hosts, including Jim White and Natalie Sawyer. The quiz contains two halves of sport-filled questions and can link easily to the existing pub audio and TV screen system. To sign-up for the free trial or for more information on the talkSPORT quiz, click here or email Chris@PubQuiz.com. If you have a sponsored message you would like to see featured in this newsletter position, email paul.charity@propelinfo.com. 

Buns from Home COO Shereen Ritchie to speak at final Propel Multi-Club Conference of 2023, three free places per company for operators: Shereen Ritchie, chief operating officer of Buns from Home, will be among the speakers at the final Propel Multi-Club Conference of 2023. The conference takes place on Thursday, 16 November, at the Millennium Gloucester Hotel in London’s Kensington, and is open for bookings. The all-day conference will focus on “progress in an era of strong headwinds”. Ritchie will talk about the rise of the independent bakery concept born out of the pandemic, which is now expanding fast across the capital. For the full speaker schedule, click here. Operators can book up to three free places per company by emailing kai.kirkman@propelinfo.com. Meanwhile, the Talent and Training Conference takes place next Tuesday (3 October) at One Moorgate Place in London. For the full speaker schedule click here. Tickets are £295 plus VAT for operators and £395 plus VAT for suppliers and can be booked by emailing kai.kirkman@propelinfo.com.

Premium subscribers to receive two databases and access to videos from Propel Multi-Club Conference and summer party this week: Propel Premium subscribers are to receive two databases this week. The updated Propel Multi-Site Database, which is produced in association with Virgate, will be released on Friday (29 September), at midday. It will include 56 new multi-site companies, taking the number of companies featured to 2,983. Before that, the updated UK Food and Beverage Franchisor Database will be sent to Premium subscribers at midday on Wednesday (27 September). Ten new companies have been added, while five which are no longer franchising or trading have been removed, taking the total to 215 businesses featured. Premium subscribers are also to receive access to all the videos from this month’s Propel Multi-Club Conference and summer party. They will be sent 12 videos on Friday at 9am. Premium subscribers also receive access to four other databases: the New Openings Database; the Propel Turnover & Profits Blue Book; the Who’s Who of UK Food & Beverage; and the UK Food and Beverage Franchisee Database. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription. Premium subscribers also receive their morning newsletter 11 hours early, at 7pm the evening before; regular video content and regular exclusive columns from Propel group editor Mark Wingett.

Hospitality sales up 8.9% year-on-year in latest 12 weeks, ‘gap between hospitality prices and grocery widening’: Hospitality sales grew 8.9% year-on-year in the latest 12 weeks, according to analysis from HDI, a provider of card spending insight and pricing data to the UK hospitality sector. Fast food and takeaway, coffee and sandwich and pizza delivery continued to lead the growth stakes over the 12 weeks ending 12 September 2023. Branded pub restaurants and pubs and bars were closely matched with growth of 6.5% and 6.4% respectively, while casual dining continued to see the lowest levels of year-on-year growth, according to analysis of HDI’s panel of 10.2 million unique customers. Mark Bentley, business development director at HDI, said: “It’s encouraging to see headline year-on-year inflation softening, with average prices versus six months ago up just 3.2% on food and 3.5% on drinks from our tracking of more than 165,000 like-for-like site/item combinations in pubs and bars. A key watchout though is the widening gap between prices in hospitality and grocery – even though the percentage growth in prices has been higher in grocery, the absolute price per drink differential has continued to widen.” HDI’s panel tracks more than 160,000 individually identifiable hospitality venues across 350 different brands and formats, with its pricing data covering circa 15,000 hospitality venues and all major grocers.

McDonald’s to raise royalty fees for new franchised restaurants: McDonald’s is to raise royalty fees for new franchised restaurants in the US for the first time in nearly 30 years. According to CNBC, McDonald’s is raising those fees from 4% to 5%, starting 1 January 2024. The change will not affect existing franchisees who are maintaining their current footprint or who buy a franchised location from another operator. It will also not apply to rebuilt existing locations or restaurants transferred between family members. However, the higher rate will affect new franchisees, buyers of company-owned restaurants, relocated restaurants and other scenarios that involve the franchisor. McDonald’s US president Joe Erlinger said in a message to franchisees: “While we created the industry we now lead, we must continue to redefine what success looks like and position ourselves for long-term success to ensure the value of our brand remains as strong as ever.” McDonald’s will also stop calling the payments “service fees”, and instead use the term “royalty fees”, which most franchisors favour. “We’re not changing services, but we are trying to change the mindset by getting people to see and understand the power of what you buy into when you buy the McDonald’s brand, the McDonald’s system,” Erlinger told CNBC. Franchisees run about 95% of McDonald’s roughly 13,400 US restaurants. They pay rent, monthly royalty fees and other charges, such as annual fees toward the company’s mobile app, in order to operate as part of McDonald’s system. McDonald’s and its franchisees have clashed over a number of issues in recent years, including a new assessment system for restaurants and a California bill that will hike wages for fast-food workers by 25% next year. During the recent McDonald's second quarter earnings conference call, McDonald’s chief financial officer Ian Borden said strong franchise sales performance on a company-wide basis continued to be offset by targeted and temporary franchisee assistance, provided mainly to the company's European franchisees, where elevated costs continue to pressure restaurant cash flows. 

Chapman – government’s change on net zero only reinforces our belief the hospitality sector will lead on this: Mark Chapman, founder of Zero Carbon Forum, has said prime minister Rishi Sunak's announcement of a watering-down of the UK’s net zero policies, “doesn’t change anything other than reinforcing our belief that we (the hospitality sector) will lead on this”. Last week, Sunak announced the changes, though claimed he still wishes to meet the legally binding 2050 target. Chapman said: “I've always thought it will be businesses that lead the response to the climate crises through designing and implementing carbon reduction plans sector by sector, together at pace. Last week’s announcement demonstrates how politicians will be inconsistent in their approach to cutting carbon based on their perception of the public enthusiasm for it at any time. For us and our members we understand that reducing our carbon emissions will also result in more efficient businesses that are more resilient to the impact of climate change and consequently more people will want to buy from, work for and invest in. With more than a third of the industry working together in the forum to measure emissions and implement initiatives both individually and collectively to reach net zero I think we are an example to all other sectors on how to do this. For us the announcement doesn't change anything other than reinforcing our belief that we will lead on this.” Holly Elliott, chief financial officer at City Pub Group, told Propel: “I think it's a shame the government has rolled back on its target but I understand why it’s done it. It's not going to impact our strategy. We're still going all guns blazing, to try to reduce our impact on the environment. Not just us as a business but also our supply chain. I've been recruiting recently and a number of people have asked me about our environmental, social and corporate governance credentials. Customers are also more focused on it. If you're serving something up with plastic cutlery or a plastic cup you do get asked questions. We're very much focused on reducing our environmental impact, not just through reducing things such as energy consumption, but also looking at what we're doing day to day within our pubs. We as a sector can be a leader on this.”

Veeno looking for larger sites to take advantage of market trends, big opportunity in London but landlords ‘must get real’: Italian wine bar business Veeno owner Rodrigue Trouillet has told Propel he is seeking larger venues as it looks to expand, to take advantage of market trends. Veeno is preparing to open its tenth site, in a 2,800 square-foot location in Milton Keynes’ The Hub development. It will be Veeno’s biggest site at opening to date, although its Reading location, which was originally smaller, has been extended to 3,300 square feet after taking on a neighbouring unit too. “It depends where, but bigger sites make sense,” Trouillet said. “The Milton Keynes site will have a function room, which is quite key, and larger scale sites are good for corporate bookings. We’re seeing some momentum, but the reality is harder, with the challenges facing the sector. Sales aren’t what they were in 2022, and there’s hope for the future, but a lot of businesses are fighting for the same customer. Bigger spaces mean better weekends and getting 60 or 70 people in at a time rather than 30, and the franchisees are realising that.” Trouillet said a potential site in Essex hit the buffers after the franchisee was “shafted by the landlord”, and another in the north east also fell through when the franchisee couldn’t decide on a location, but he has more potential franchisees lined up for next year. With all its sites so far being based in the regions, he would also love to take the concept into London, where he feels it would work really well. “We would love to open in London, but rents haven’t gone down,” he added. “I have spoken to landlords, but they’ve got their heads in the sand. They would rather keep a property empty than reduce the rent by 50%, to keep the value up. We know it would do well in London – we have a different concept which would fit perfectly there, and we have franchisees interested – but the landlords need to get real.”

McDonald’s franchisee White Rose see turnover increase to almost £65m but falls to loss due to rising costs: McDonald’s franchisee White Rose, which operates a portfolio of restaurants in the south west and West Midlands, has reported turnover increased 9.1% to £64,608,700 for the year ending 31 December 2022 compared with £59,222,829 the previous year. However, increased cost pressures resulted in the business making a loss of £1,009,280 compared with a profit of £5,350,877 the year before. In his report accompanying the accounts, owner David Wynne stated: “We believe the trading environment in which the company operates will continue to be challenging but remain optimistic regarding future trading and are committed to increasing both future turnover and profitability and to continuing the company's reinvestment programme.” The business did not receive any government grants (2021: £439,701). A dividend of £275,000 was paid (2021: £200,000). Wynne, who is originally from Birmingham, started out with McDonald’s at the age of 17 and at the age of 21 he became the chain’s youngest UK restaurant manager, and slowly worked his way up the ladder. He progressed to area manager for the south west and Wales, and then for the larger West Midlands patch. After 19 years with the company he asked to become a franchisee, leading his Birmingham business to become top performer among 185 franchises. In 2002, he acquired five outlets in in Plymouth, and has since added six more across Cornwall and Devon. The operation is named after his beloved Leeds United FC.

Zip World reports turnover boost: Adventure tourism operator Zip World has reported turnover increased 23% to £28,664,738 for the year ending 31 December 2022 compared with £23,542,833 the year before. The company, which has been backed by private equity firm LDC since 2018, saw Ebitda before exceptional items decrease £0.6m to £10.2m. However, Zip World said the prior year included the positive impact of grant and rate relief support, and the reduced VAT rate for hospitality to support the post-covid recovery. Pre-tax profit was down to £109,299 from £1,868,367 as a result of increased costs and the reduction in government support. During the period, Zip World acquired Treetop Trek, an adventure business comprising of two sites in northern England, for £2.3m. In their report accompanying the accounts, the directors stated: “The results reflect the continuation of a positive UK holiday market, taking advantage of increased UK travel volume coupled with a longer term underlying trend of experiential short break trips, which fits the company profile well. At the end of 2022, the group refinanced its banking facilities with HSBC and agreed the adoption of a revolving credit facility of up to £15m, which allows increased efficiency of borrowing while also giving the group access to funds for acquisition and development opportunities should they be available. A £5m, uncommitted, accordion facility further enhances that ability.” The business received government grants of £234,000 (2021: £1,008,599). No dividend was paid (2021: nil). Zip World provides visitors with experiences across its 29 attractions at seven UK sites. It had been aiming to open a zipline attraction at Elterwater Quarry in Great Langdale, Cumbria, but the plan has been rejected by the Lake District National Park Authority.

Fallow team confirms plans to launch fast-casual concept: The team behind London-based restaurant concept Fallow has confirmed plans to launch a fast-casual concept in the capital for their second site. As previously revealed by Propel, the business from James Robson, Jack Croft and Will Murray, which opened its first permanent site in London's St James's Market, in November 2021, is to take on the nearby ex-The Beau Brummell site for the new venture. The site was previously operated as a pub by Cubitt House. The Fallow team will open Fowl, a 70-cover “chicken shop like no other”, on Tuesday, 3 October. The new venture will see the Fallow team collaborating with a series of “celebrated food icons” to create one-off dishes available for a limited time. It will kick off with chef Pierre Koffmann, who, alongside Croft and Murray, has created a chicken leg corn dog with aleppo pepper and “La Grande Coque Pie” for two featuring confit chicken hearts, livers and cockscombs. This will be followed closely in November with a collaboration with Lennie Ware, the star of Table Manners, the food podcast co-hosted with her daughter, Jessie Ware. Robson told Propel last week: “The market turmoil and challenges continue to provide an abundance of opportunities. We are mid build on a substantial site in east London due to open early 2024. The Beau site was an interim opportunity we could not turn down with our current team bursting with ideas and talent. This will be a quick turnaround and we expect to be trading within a month with an energy fuelled more quick service restaurant-style operation.”

DHP Family reports turnover and profit boost but revenue only two-thirds of pre-covid levels, pays off £200,000 bank loan: Live music venue and club operator DHP Family has reported turnover increased to £30,647,105 for the year ending 31 December 2022 compared with £21,131,712 the previous year. However, revenue remained below the £44,595,774 reported for the year ending 31 December 2019 – the last full year before the covid pandemic. The business – which operates eight venues across London, Bristol and Nottingham – saw pre-tax profit rise to £2,582,412 from £2,079,331 the previous year (2019: profit of £1,921,424). In their report accompanying the accounts, the directors stated: “Encouragingly, the business successfully managed to pay off its bank loan [of 200,000] during the period due to another strong year with built-up demand post-pandemic. This financial performance demonstrates resilience and effective strategic management despite the challenges posed by the pandemic.” The business did not receive any government grants (2021: £1,603,418). A dividend of £1.9m was paid (2021: nil).

London luxury health club brand Third Space secures £90m to fund new openings: London luxury health club brand Third Space has secured almost £90m to fund new openings. The business has received the money from OakNorth Bank and private equity firm Searchlight Capital Partners. Third Space, which operates eight sites in the capital with two more set to open, in Battersea and Wimbledon, is targeting up to 30 clubs in the capital and after that chief executive Colin Waggett told The Sunday Times he would look at big cities abroad. A monthly subscription ranges between £200 and £265 while five of Third Space’s gyms have months-long waiting lists for newcomers. Waggett is convinced there is wider demand for fitness fanatics to part with more than £3,000 a year; more than the £2,750 for global membership of Soho House, for instance. Members gain access to running tracks, climbing walls and heated swimming pools. Those seeking an extra challenge have the option of training at 3,000 metres in an altitude chamber. Alternatively, members can step into a cryotherapy chamber at minus 33C to boost muscle recovery, circulation and sleep patterns. Waggett said: “We do diagnostics so you can get your hormone levels checked. The advice of the consultant [covers] how to adjust your diet lifestyle to improve your overall balance of life. We’ve got sleep pods and meditation rooms. It’s a pretty holistic offering.” He also believes the business is better placed than its competitors to combat the cost-of-living crisis and post-pandemic changes. “Our members are less likely to be at home in the first place,” Waggett added. “We’re talking about younger professionals, between 25 and 35. They live in central London. They’re often pre-family, pre-kids and so they’re living that London lifestyle.”

Five Guys gears up to launch second UK drive-thru: Better burger brand Five Guys will open its second drive-thru site in the UK next Monday (2 October) near Bury St Edmunds. The 160-strong business will open the site in Barton Mills, near Mildenhall, with a restaurant site on the former Handmade Burger Co unit in The Waterfront scheme, Lincoln, set to open on the same day. In June, John Eckbert, chief executive of Five Guys UK, told Propel the circa 160-strong business sees scope for a further 150 sites here, and that a transport hub opening is the “last boundary that lies ahead” for the brand. Eckbert said the British business had “exceeded expectations” and is now looking at opening sites in airports and train stations. He said: “We hired a data algorithm company, and it told us five years ago that we probably had another 70 sites that we could build here. We have now built those 70 sites and now it tells us there's another 150 sites that we could build. In fairness to it, we’ve proven new markets in those secondary stores – for example, we have opened up into retail parks. Teesside, where our debut, and so far, only drive-thru site is, is a single data point. If that’s a single data point for what drive-thrus can be, that’s a whole other white space to colour in.” Propel understands that Five Guys has also signed up to open at the Cotswold Designer Outlet near Tewkesbury, which is set to open next year; for a drive-thru site at the Kingswood Leisure Park development in Hull; and for a potential drive-thru or restaurant in Leamington Spa. It has further openings lined up this year in Middlebrook Bolton; Cheshire Oaks; and on the former Frankie & Benny’s site in the Riverside scheme, in Norwich. In terms of its pipeline for next year, it has also lined up an opening at the West End Lane development in West Hampstead. 

David Murdin joins ETM Group as non-executive director: David Murdin has joined the ETM Group, which operates 18 premium bars, pubs and restaurants in central London, as a non-executive director, Propel has learned. At the start of this year, Murdin stepped down as chief marketing officer at Cote. Murdin, who was brand and marketing director at Dunelm, also spent time at Wagamama as its interim customer director and then interim chief marketing officer. Murdin was previously programme director at the Coca-Cola-owned coffee chain Costa. He was also previously Debenhams’ managing director – restaurants, and before that spent six years at Whitbread, first as marketing director for its restaurants and then chief operating officer for brand developments, including the launch of Bar + Block. Earlier this month, Propel revealed that ETM Group is to take on the food and beverage operations at the Montcalm East hotel in London’s Shoreditch. Propel understands ETM will open a new all-day dining venue spread across two floors called Marlowe at the hotel, in the ex-Moor & Mead space. It will be a second hotel operation for ETM, which already operates the Aviary rooftop restaurant and terrace bar at the Montcalm Royal London House in Finsbury Square. The business has also been linked to opening a new premium sports bar as part of Land Securities Lucent development behind the Piccadilly Lights. 

Joule’s expands its brewery’s footprint by acquiring Admiral Taverns pub next door, to be followed by opening in Shrewsbury: Shropshire brewer and retailer Joule’s has expanded its brewery’s footprint by acquiring an Admiral Taverns pub next door. It has bought The Stags Head, which is located next to the brewery in Great Hale Street, Market Drayton, and which will be incorporated into it. Joule’s was originally based in Stone, Staffordshire, but relaunched with its Great Hales Street brewery in 2010. It has since established a taphouse estate across Shropshire, Staffordshire, Cheshire and Wales that currently consists of 44 pubs. Anna Brakel, development director at Joule’s, said: “I am thankful to Admiral Taverns for hearing our case and allowing us the opportunity to develop our brewery land. We are delighted we are able to expand next to an original Joule’s pub and develop further what is already an iconic landmark for Market Drayton.” The acquisition of The Stags Head will be followed soon by the opening of Henry Tudor House in Wyle Cop, Shrewsbury, which is Shropshire's only grade I-listed pub. Joule’s acquired the pub from Graham and Clare Jenkins, who decided to spend more time on their other business interests, earlier this year. The brewer will also be investing further in the Red Lion Inn, its flagship taphouse that also adjoins the brewery. Victoria Colclough, operations director at Joule’s, added: “This progression for the brewery also offers us the chance to invest in our flagship taphouse. This will give us some vital extra capacity, which we need if we are to grow, and marks our total and unequivocal commitment to Shropshire and our home town of Market Drayton.” Joule’s added the business has held its beer prices for the third year in a row.

Rola Wala to return to expansion trail with Manchester opening: Indian street food concept Rola Wala is to return to the expansion trail with an opening in Manchester, Propel has learned. Rola Wala, which is led by founder Mark Wright, will open a site at 75 Deansgate later this year, on what is thought is the ex-Players unit. Wright launched the business with West Cornwall Pasty Company co-founder Mark Christophers. It began trading at street food markets in London before opening a permanent site in Trinity Kitchen, Leeds, in 2014. In 2017, the company expanded to sites at Westgate in Oxford and Spitalfields, London. However, it restructured two years later, with Wright acquiring the brand and its remaining site in Trinity Kitchen Leeds through a new vehicle Epic Restaurant Group.

East London Pub Co owner opens brasserie-style restaurant in London’s Spitalfields: East London Pub Co owner Patrick Frawley has opened a new brasserie-style restaurant in London’s Spitalfields. Frawley – who is also behind the Cornerstone restaurants in Cork and Limerick, plus Aubars Bar & Nightclub and Paddy Frawley’s Bar in Limerick – has launched 65a in Brushfield Street. It offers “an elegant yet uncomplicated menu of classic dishes peppered with French inflections” while hiring and training staff and working predominantly with nearby traders. Executive chef Maura Baxter is serving dishes such as whole grilled native lobster and free-range rotisserie chicken alongside small plates including hand-dived coquilles St Jacques, salade chèvre chaud and fillet steak with Café de Paris butter. The 155-cover restaurant, which features a terrace for alfresco dining, also offers a French-led wine list and classic cocktails.

The Lancaster Landmark Hotel Company rolls over £116m bond to October 2024, returns to profit as turnover passes pre-pandemic levels: The Lancaster Landmark Hotel Company said it has received “further breathing space in what is generally a period of great uncertainty” by rolling over a £116m bond to October 2024. The bond, issued to parent company LODJ, was extended to October 2023 during the previous year, at a discount equivalent to a rate of 3%. Another 12 months have now been added, at a rate of 4.5%, while a part payment of £28m has been made. The company is also owed £83m (2021: £95m) by fellow subsidiary, Landmark Hotel London, following the previous sale of assets to that company. “Realistically, it cannot be repaid unless that company was to sell its property, which it has no plans to do currently,” the company said. It comes as the business returned to profit in the year ending 31 October 2022, turning a pre-tax loss of £8,362,000 in 2021 into a £2,440,000 profit. Turnover rose from £10,924,000 in 2021 to £40,639,000 and exceeded the last full pre-pandemic figure of £38,355,000, in the year to 31 October 2019. It received no government grants compared with £1.7m in 2021. The average rate per occupied room increased from £220 to £276, reflecting the reduced impact of covid, while occupancy was 60% (2021: 19%). Director Paul Stockton said in his statement accompanying the accounts: “As noted above, 60% occupancy for the 2022 financial year was achieved which, accompanied by increased average room rates, saw gross revenue for the year slightly exceed pre-covid-19. Following on from this, the company is expected to continue to increase net profits into 2023 and beyond.”

Richoux set to relocate: Richoux, the 100-year-old British institution, will relocate to a new home in London’s Soho this winter. The restaurant, which relaunched in nearby Piccadilly in 2022 after being saved out of administration the previous year, will reopen as Richoux Soho, with the opening date yet to be set. Last service at Richoux Piccadilly will be on Tuesday (26 September). At Richoux Soho, chef patrons Jamie Butler and Lewis Spencer, who originally met working together in the kitchens of Moor Hall, will continue to produce menus that “pay homage to the grand brasseries of Paris”. They said: “We have loved every minute of our time in Piccadilly, and we are grateful to all our loyal patrons and regulars who have supported us. But Soho is calling, and we can’t wait to move into our incredible new restaurant – bringing everything that our customers love from our classic French onion soup to our patisserie counter – with lots of exciting new surprises for our guests too.”

Former Le Cordon Bleu graduate to second site for cafe and well-being space concept: Former Le Cordon Bleu graduate Vidushi Binani is set to open a second site for her cafe and well-being space concept. Binani, in partnership with masters athlete and fitness professional Haylene Ryan Causer, opened the first Volonté in Brompton Road, Kensington, in April 2022. They will this Friday (29 September) open their second site, Café Volonté, at 200 Piccadilly in London’s St James’. It will offer nutritional balance bowls, protein shakes and barista-style coffee alongside dishes such as Turkish eggs on toast, a wholemeal halloumi breakfast wrap, a chilli bowl and a Kinder Bueno smoothie. Binani said: “Having launched our flagship site in spring 2022, we’re excited to be opening our second site in the iconic street area of Piccadilly. I’m passionate about promoting inclusive well-being to those across London and hope our new Piccadilly site will connect with a loyal new community, supporting their everyday well-being.”