Australian-style sushi concept to make UK debut with scope for ‘hundreds’ of sites here: Australian-style sushi concept Rolled is to make its UK debut, with its founder confident that Britain can sustain “hundreds” of sites. The outlet will open at the Trafford Centre in Manchester on Friday, 16 August, with the sushi to-go kiosk based in Lower Orient. Hand rolls take centre stage on the menu, offering a fusion of traditional Japanese techniques “with Aussie quality and creativity”. The hand roll format was invented in Melbourne in the late 1990s before becoming popularised in the early 2000s. Founder Adam Miller and his team will draw inspiration from popular recipes in Australia while introducing their own fresh take on them, with rolls such as the spicy tuna, crispy chicken, salmon smashed avo and The Bondi Roll – Aussie breakfast in a roll. Miller told Propel: “If the initial proof of concept is successful, we’re confident that the UK can sustain hundreds of Rolled sites, both in city centres and across suburban areas too.” He added: “Aussies are obsessed with this type of sushi. It’s not unusual to consume hand-rolls multiple times a week, so I’m excited to introduce it to Manchester where I believe it will be just as popular. We have real ambition for Rolled, with the aim of establishing it as the UK’s largest and most loved sushi brand. We’re excited to launch the concept in Manchester at the Trafford Centre.” Miller has been based in the UK since 2021, moving from Australia to help launch operations in the UK for mobile order and pay technology start-up, me&u (formerly Mr Yum). With close to a decade working in and around the hospitality industry, as well as a background that includes briefly living in Japan, Miller left me&u in early 2024 to focus on bringing Rolled to British shores.

 

Sponsored message – Purple relaunches its guest WiFi and data capture solution directly to UK hospitality: For the past ten years, Purple has supported guest login journeys for more than 11,000 UK hospitality venues, handling over 77 million unique guest WiFi logins, typically provided via a small number of resellers. This summer, Purple invites hospitality operators to sign up for its solution directly, recently enhanced with new integrations into hospitality-specific CRMs such as Airship, Atreemo, Bloomreach, and Mapp. UK hospitality businesses can now benefit from Purple’s direct customer support for prompt assistance, a lower price point accessible to businesses of all sizes, and reliable platform stability with a 99.9% uptime. Purple chief executive Gavin Wheeldon said: “Supporting the UK hospitality sector has been a pleasure, even from a distance. Now, engaging directly with operators, we can offer them full support, lower costs and a consistently reliable platform.” To support this relaunch, Purple has hired hospitality software-as-a-service specialist Sam Brown, who brings significant experience, having played a key role at Wireless Social and Airship, where he oversaw sales and marketing, adding more than 700 new hospitality brands to the platforms. Following Airship's sale to Zonal, he is now an investor and advisor for several hospitality tech platforms. For more information click here. If you have a sponsored story you would like to see featured in this newsletter position, email paul.charity@propelinfo.com.

 

Incipio Group’s people team among speakers at Propel’s Talent & Training Conference, open for bookings with 20% discount on tickets for Premium Club members: Josie Adam, Jenni Haywood and Dominique Macaly, who head up Incipio Group’s people team, will be among the speakers at Propel’s Talent & Training Conference. The all-day conference takes place on Tuesday, 1 October at One Moorgate Place in London and is open for bookings. The conference will showcase examples of outstanding people culture among companies within the sector and how the industry is attracting talent. Adam, Haywood and Macaly will talk to Abi Dunn, founder of Sixty Eight People, about the incredible culture they have created at Incipio and their new strategy for the company’s upcoming flagship Olympia project. For the full speaker schedule, click here. Tickets are £345 plus VAT for operators and £395 plus VAT for suppliers. Premium Club members get a 20% discount. Email: kai.kirkman@propelinfo.com to book places.

 

Next edition of Premium Club Turnover & Profits Blue Book released tomorrow shows sector companies’ profit outstripping losses by £2.02bn, up from £1.78bn last month: The next edition of the Propel Turnover & Profits Blue Book, which will be sent to Premium Club members tomorrow (Friday, 9 August), at midday, shows the profit being made by sector companies is now outstripping losses by £2.02bn, an increase on the £1.78bn last month. The Blue Book shows the total profit of the 958 companies in the list is £4,454,118,405 and losses are £2,429,999,932. The Blue Book shows 602 companies in profit and 356 reporting losses. The Blue Book is updated each month and ranks companies by turnover, profit and profit conversion, listing directors' earnings for the past five years. Premium Club members also receive access to five other databases: the Multi-Site Database, produced in association with Virgate; the New Openings Database; the UK Food and Beverage Franchisor Database; the UK Food and Beverage Franchisee Database and the Who's Who of UK Hospitality. All Premium Clubs members will be offered a 20% discount on tickets to Propel paid-for events including the Talent and Training Conference (1 October), Restaurant Marketer and Innovator (two days in January 2025) and Excellence in Pub Retail (May 2025). Operators that are Premium Club members are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club members receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club members will be sent a dedicated monthly newsletter that will highlight key updates in the sector and direct subscribers to all the vital content their membership offers. Premium Club members also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel group editor Mark Wingett and a host of industry leaders from across the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.

 

Job of the day: COREcruitment is working with a provider of event hire and logistics solutions that caters to a diverse range of events and exhibitions across the UK, which is looking for a sales director. A COREcruitment spokesperson said: “This is a pivotal time of growth for their business. You will be responsible for maximising and growing the revenue across the business by designing and delivering strategic sales action plans that are specifically designed to meet the targets of the company. You should have a compelling personality, be organised and methodical in your approach and eager for new business development.” The salary is up to £75,000 and the position is based in the West Midlands. For more information, email marlene@corecuritment.com.

 

Kevin Hydes departs Tim Hortons UK, ‘brand has huge growth potential here’: Kevin Hydes has told Propel that Tim Hortons has huge growth potential within the UK after announcing his departure from the business. Hydes has stepped down as chief commercial officer of Tim Hortons UK & Ireland after seven years, overseeing the Canadian coffee brand’s UK breakthrough and subsequent growth to 72 sites here. He previously spent 11 years with Costa Coffee in various roles including UK head of marketing, UK retail marketing director and international brand and development director. “I had a great opportunity to work with Tim Hortons and bring it to the UK, and I’m really proud of what I have achieved with the team,” he told Propel. “It is a fantastic business, and it has huge growth potential over here. I look forward to watching its next steps.” Hydes said his departure, announced on Wednesday (7 August), is effective immediately, and he will take up his next posting in the autumn. He told Propel it will be a position within the hospitality industry and will be based in the UK. In a LinkedIn post, Hydes added: “I leave the business with some great memories and achievements – from the very first shop in Glasgow to our launch in Northern Ireland, our memorable opening in London and everything in between. I have been humbled by the great people and partners that I have had the privilege to work with across the years. I look forward to watching the brand develop and grow and I know that it will go on to great things here in the UK.” Tim Hortons hired Chris Pennington, whose 27 years at McDonald’s included three as UK director of operations, as its new chief operations officer earlier this year. The business launched its franchise model in September last year, saying it was planning “significant growth” of its UK estate.

 

Franco Manca expands international franchise in Spain: Franco Manca, the Neapolitan sourdough pizza brand backed by Toridoll and Capdesia, has secured a second site in Spain as it continues to strengthen its international franchise offer. The new restaurant in Jaén, Andalusia, marks the company’s third franchise following Málaga and Portrush in Northern Ireland, which opened in 2023. A university city with a population of 112,757, Jaén is best known for its olive oil production, with 60 million olive trees producing 43% of Spain’s olive oil and 23% of the world’s supply. Franco Manca’s new 80-cover restaurant is located in the Centro Comercial Jaén Plaza. Fulham Shore chief executive Marcel Khan said: “We are proud and happy to continue to build on our capacity as a great franchisor and look to continue growing this with existing partners as well as reaching new territories. It’s exciting to bring our sourdough pizza to more customers around the world.”

 

Bewiched Coffee owner – we are now seeing consistent lfl transactional growth nearing double digits: Matt Fountain, owner of Midlands cafe operator Bewiched Coffee, has said the business is now seeing consistent like-for-like transactional growth nearing double digits. Fountain, who founded the business in 2010, was speaking following this week’s launch of his 18th site, in Leamington Parade. “This is our third high profile opening this year, with two more to come, including our second drive thru store,” he said. “In terms of the aesthetics and historic location, the Leamington Parade site is up there with the best we have. It feels like a prime location, and having looked at the Parade several times over the years, it is just fantastic to be up and running in this historic town. In terms of the wider business, we are now seeing consistent like-for-like transactional growth nearing double digits. This is split evenly throughout the day part segments, which is really pleasing as we operate in a challenging and competitive market. We have not passed on any major coffee or food price increases now for three quarters and we continue to try to blend the balance of offering value, service and quality.” Earlier this year, Fountain told Propel he was aiming to open five new stores in 2024, followed by a first designer village outlet location in 2025. Having launched an outlet in Market Harborough in February, Bewiched also has openings lined up in Bedford, Northampton and two in Wellingborough, including its third franchise site with Heart Of England Co-operative Society.

 

De Nadas set to open third London site, eyes further openings in 2025: De Nadas, the pastry-based Argentinian concept from chef Nico Buyo and former Kerrang! magazine editor Ñako Martinez, is set to open its third site in London and is planning further openings in 2025, Propel has learned. The empanada specialist, which launched its first shop in Notting Hill’s Golborne Road in 2022, followed by a second in Shoreditch’s Rivington Street in 2023, is due to open in Stoke Newington’s Church Street in September. The shop, which will cater for takeaway and dining in, will also serve South American wine and vermouth. De Nadas said unlike many other empanada makers, its ones are all shaped by hand, offering more than 15 varieties with meat, vegetarian and plant-based fillings. Martinez said: “To open a third shop in just over two years, which we’ve been able to do using our profits, has exceeded our expectations. Not only does this prove the ‘power of the empanada’, but paves the way to further openings in 2025. We can’t wait to be a place in Stoke Newington for neighbours, and those visiting the area, to catch up over some empanadas and good wine.” De Nadas has also partnered with Slerp to streamline its collection and delivery orders and reach more areas across London.

 

Flip Out and Black Sheep Coffee opening in Watford: Flip Out, the UK-based trampolining concept that is operated here by We Do Play, and speciality coffee shop operator Black Sheep Coffee are both opening new sites within Watford’s Atria shopping centre. Flip Out will remodel part of the former John Lewis site into 33,000 square feet of immersive entertainment including the first hi-tech dodgems in the UK. Other activities will include soft play, a gaming zone, roller skating, donut slides, trampolines and a giant inflatable area. There will also be a ninja playground area and a laser quest experience, while guests can also enjoy pizza, hot dogs, burgers and coffee. Richard Beese, co-owner of We Do Play, said: “The team at We Do Play is over the moon to be launching in atria Watford, transforming the sizeable John Lewis unit into a centre of adrenaline-fuelled attractions. Over the last year, we have opened attractions, including Flip Out, Putt Putt Social and VRXtra in a number of shopping centres, and we have seen what a key role they play in the footfall. We can’t wait to start on the build at Atria Watford.” Meanwhile, the Watford Observer reports that Black Sheep Coffee has had hoarding up in the shopping centre for several months but never officially confirmed it was to launch in the town until now. It said the store was not previously included among the many “coming soon” branches on the brand’s website, but Unit 26a Atria Watford is now listed among ten retail units across the country where Black Sheep Coffee is officially “on its way”. The store is set to open on the lower mall, next to the external doors between Puttshack and Shoecare. A new report produced by Propel on the fast-growing experiential leisure sector is available. The report profiles the current shape of the experiential leisure market – including brands, estate size, trading type and geographical location and future trends. It provides a detailed list of UK experiential leisure companies including key staff and Companies House information. The report includes more than 180 companies, 3,500 sites and a 35,000-word report. The report is available for £595 plus VAT although Premium Club members can receive the report for £395 plus VAT. The report will be made available for free to existing Premium members on Tuesday, 10 September at 9am. Email: kai.kirkman@propelinfo.com today to order a copy.

North east pub operator Sir John Fitzgerald reports record profit but turnover remains below pre-covid levels: North east pub operator Sir John Fitzgerald has reported turnover edged up to £15,096,889 for the year ending 31 January 2024 compared with £14,914,612 the previous year. However, revenue remained below the £16,963,842 reported for the year ending 31 January 2020 – the last full year before the covid pandemic. Pre-tax profit was up to a record £1,954,048 from £1,791,120 the year before. The company, which operates 15 venues in and around Newcastle and employs circa 280 staff, did not receive any government grants (2023: £104,000). No dividend was paid (2023: nil).

 

British Land considers voting against Cineworld restructure: British Land is considering voting against a restructuring of Cineworld’s British operations that could lead to the closure of dozens of sites. Sky News reported that British Land, one of Britain’s biggest commercial property companies, is among a number of landlords dissatisfied with formal proposals tabled by Cineworld. The company has confirmed plans to close six of its UK multiplexes but, as previously reported by Propel, documents circulated to creditors show almost 50 others are in categories requiring landlords to agree to revised rent deals in order to ensure their long-term viability. Property industry sources said several Cineworld landlords were unhappy with the proposals as currently configured and were expected to press for an improvement of the terms. British Land, which is understood to own four Cineworld sites, three of which would be compromised under the plan, declined to comment. According to documents sent to creditors, 33 sites – categorised as Class B – “require a reduction of rent to estimated retail venue rent in order to place the sites on a viable long-term footing”. A further 38 of Cineworld’s cinemas would be unaffected, while another 16 class C1 and C2 leases require reductions to either turnover rent or zero rent in order to be financially viable. The company did not have sufficient funding to meet a quarterly rent bill on 24 June of £15.9m and required further funding from its US parent to pay it. A convening hearing has been scheduled to progress the restructuring plan later this month. Cineworld initially held talks about a sale of the business with prospective buyers but has switched its focus to a formal restructuring process. The company, which trades from more than 100 UK sites, is being advised by AlixPartners. 

 

Mercato Metropolitano will return to UK expansion after launching in other international markets, keen to roll out delivery concept following Ilford launch: London community food market Mercato Metropolitano has told Propel it will return to UK expansion after launching in other international markets, and that it is keen to roll out its delivery concept. The business, founded in Milan in 2015 by Andrea Rasca, made the UK its first overseas market with a launch in London’s Elephant & Castle the following year. It has since added sites in Canary Wharf and Mayfair, and last month launched its fourth location in the capital, in Ilford. “We want to make sure our foundation in London is cemented and then look at other markets,” said managing director Luke Jenkins. “We’re working on programmes in Morocco, Japan, Italy and Portugal, so once Ilford is completed, those will start to come to fruition. We would love to go into Boston, and we see a huge market in Japan, but London has also got so much to give, and there’s always room for more there. There are other parts of London we’d like to have our footprint in, and the rest of the UK is something we’d do, but after London and international. Our focus is on Ilford, and if we make it a success, there’s no reason we can’t continue that expansion.” Earlier this year, Mercato Metropolitano started trialling delivery from its Canary Wharf site, and although it’s still early days, Jenkins said it’s something he’d like to see more of. “The delivery concept has been great,” he said. “It reverses the whole concept of a dark kitchen – we’re putting a spotlight on our traders and where the produce comes from. The reason we went to Wood Wharf is it’s a growing residential area and has more space for us to grow, and we have access to those residents. The landlords trust us to enter those buildings, so while other companies can only deliver downstairs and you still have to go to reception to collect it, we have physical access to the apartment blocks and straight to the door. This is definitely an untapped resource we are growing and want to build. We want to take it to our other locations, and the next trial phase will be in Ilford as it has good residential areas and good businesses.” Jenkins added that sales have increased year on year in 2024 and “we’re in a good place in all our markets”.

A&O Hotels opens second UK location: A&O Hostels, Europe’s largest privately owned hostel brand, has opened a second property in the UK and 39th across Europe. A&O Brighton Palace Pier offers 50 rooms with a total of 186 beds, a Victorian-style lobby bar and a restaurant. It follows the company’s UK debut, in Edinburgh, in 2021. “The property is a true gem, and we are excited about this special new addition to our European portfolio”, said A&O founder Oliver Winter. “We want sustainable growth, with locations and properties that work in the long term and will be attractive destinations for our guests for years to come. We don’t have a set criteria for the size of the properties we open, more the potential to open locations which have heart and soul.” With almost three million overnight stays in the first six months of 2024, the company said its half-year results mark a record performance in its near 25-year history. Other potential A&O locations for future expansion include London, Manchester and Dublin. Based in Berlin, A&O was founded by Winter in 2000, and as part of its sustainability strategy, will be net zero in 2025.

 

Change Please becomes certified B Corp: London social enterprise coffee shop concept Change Please has been certified a B Corp. Verified by B Lab, the not-for-profit behind the B Corp movement, the certification is given to companies verified as meeting the high standards of social and environmental performance, transparency and accountability. Julian Burnham, national impact director and sustainability advisor at Change Please, said: “We wanted to certify as a B Corp as the practices align with our own high standards of social and environmental performance, transparency, and accountability. We believe businesses can be drivers for positive change and are fundamental in building a better future, it is so important for us to overtly support that behaviour. Becoming a B Corp is just another step on our ongoing journey towards a more equitable world, supported by sustainable businesses, focused on innovative and regenerative solutions to some of the world’s fundamental challenges.” Change Please operates nine sites across the capital.

 

Aparthotel operator Roomzzz returns to profit as turnover hits record £18.8m: Aparthotel operator Roomzzz, which operates 12 sites across the UK, has reported turnover increased to a record £18,807,735 for the year ending 30 September 2023 compared with £14,891,207 the previous year. The company, which employs circa 200 staff, posted a pre-tax profit of £56,530 compared with a loss of £770,405 the year before. Shareholder funds totalled £1,198,673 (2022: £1,142,143). The company owes £124,747 borrowed through the Coronavirus Business Interruption Loan Scheme (2022: £210,858). In their report accompanying the accounts, the directors stated: “Since covid restrictions eased through 2022, the overall environment has significantly improved but still remains somewhat challenging, driven by a reduction in business travel and both the cost-of-living crisis. Inflation, including wage pressures from the national living wage, have been felt but have settled through the latter stages of this financial year, and are forecast to completely soften as we go through FY24. The business is resilient and will adapt as necessary with measures including, but not limited to, its mix of short stay and long stay custom. Roomzzz Edinburgh opened in May 2023 and has exceeded expectations in terms of financial performance. The business has also recently altered its breakfast offering and brought cleaning in house, both of which have improved financial performance.” No dividend was paid (2022: nil).

 

Bagel business set to open eighth site: Bagel business The Steamhouse is set to open its eighth site this summer, in Banbury, Oxfordshire. The company will be moving into the unit next to the Sainsbury’s Local in Warwick Road. The company already has two sites in Leamington Spa plus further locations in Oxford, Redditch, Cheltenham and Bromsgrove. The Steamhouse offers bagels, brunch and coffee, as well as treats from its bakery. The business is also understood to be planning further locations in Cirencester and Solihull. Owners Ashley Baker and Kayleigh O’Mahony started out selling coffee out of a van and launched the business in 2016, using their £14,000 house deposit. They previously operated other The Steamhouse sites in Birmingham city centre and Stratford-upon-Avon.

 

Scottish hotel group reports strong current trading with sales and profit ahead of forecast, new loan facility giving ‘significant material headroom’: Scottish hotel group Rad has reported strong current trading, with sales and profit ahead of forecast, and said its new loan facility is providing “significant material headroom”. The business, owned by Robert and Vivien Kyle, operates eight hotels across Ayrshire, Dumfries, Lanarkshire and Glasgow. In its accounts for the year to 30 June 2023, director Thomas Stevenson said: “In the nine months prior to March 2024, trading remained strong, continuing servicing weddings and events postponed earlier in the pandemic and post-pandemic bookings, which have a longer-lead time with the crowded events calendars. It is worth reiterating bookings in this area of the business are extremely healthy and mostly at full price. Staycations continue to lead to very good accommodation sales. As a result, sales and profit are ahead of forecast. Rad has a strong balance sheet and access to significant liquidity. There is currently significantly material headroom in our funding facilities from the new Santander facilities loan, negotiated and made available in September 2023 on the purchase of Seamill Hydro and cash on deposit. Going forward, we will take the appropriate action required to keep our business in a good position to trade profitably to deal with the very competitive and challenging hotel and leisure market conditions.” The group’s turnover increased from £23,341,072 in 2022, when it operated six hotels, to £28,068,083. Of this, £12,317,795 came from food sales (2022: £10,325,789), £7,460,476 from beverage sales (2022: £6,390,152), £7,122,982 from accommodation (2022: £5,929,481) and £732,769 from spa sales (2022: £606,995). Thompson said significantly higher costs saw operating profit decreased from 22% of turnover to 11% of turnover at £3,157,236 (2022: £5,206,303). He said the company has dealt with recruitment and retention issues by providing attractive pay and conditions. It has also entered into a collective utilities buying strategy – a long term management of risk decision that has affected profitability in the short term. No dividend was paid (2022: nil).

 

Glasgow coffee shop operator planning to introduce new deli concept: Glasgow coffee shop operator Grain and Grind is planning to introduce a new deli concept. The business, which has eight locations across Glasgow and Inverness, has applied to change the use of its Strathbungo venue, in Pollokshaws Road, from “coffee shop/sandwich bar” to “hot food takeaway”. A menu submitted with the plans shows the newly named The Original Queens Deli will serve breakfast muffins, toasties and hot and cold rolls and “introduce an additional eating option to the area”, reports Glasgow Live. It states: “Over the last few years, this area of Pollokshaws Road and Nithsdale Road has developed into a thriving popular hub with a range of bars, diners, coffee shops and artisan shops, all of which has created a vibrant and dynamic local environment that has become a very popular destination to residents and visitors alike.” Owners Matthew Mustard and John Gartley opened their first Grain and Grind in 2018, in Battlefield in Glasgow’s Southside.

 

Norfolk operator falls to loss as turnover dips, focusing on developing holiday park resort: Norfolk operator Richardson’s Leisure is focusing on developing its holiday park resort as it reported turnover dipped to £11,993,144 for the year ending 5 November 2023 compared with £12,922,578 the previous year. The company – which operates Hemsy Beach holiday park, two coffee shops, two family entertainment centres and boating holidays – saw Ebitda fall to £1,854,084 from £4,143,674 the year before. The company posted a pre-tax loss of £644,675 compared with a profit of £1,981,185 the previous year. In their report accompanying the accounts, the directors stated: “Despite continued volatility in the economy, the directors believe the business is well placed to withstand the current economic environment. The impact of the current state of the economy has been mitigated by investment in the standard of accommodation at Hemsby Beach. The board continues to manage the overall strategic plans for the existing outlets as well as looking for new opportunities. Looking forward, the focus will be on creating a day visitor attraction at Hemsby and working with a third party looking at a new revenue stream of caravan ownership, to take advantage of the location as well as additional lodges and accommodation.” The group, which employs 180 staff, did not receive any government grants (2022: £53,528). A dividend of £256,000 was paid (2022: £226,000).

 

Merseyside railway station coffee shop concept opens third site, looking to establish locations across local network: Merseyside railway station coffee shop concept Coffee Carriage has opened a third site and is looking to establish locations across the local network. Friends Rory McLellan and Craig Reeves used to work in Starbucks and Greggs respectively before deciding to strike out for themselves. They first opened Coffee Saddle at Hunts Cross station, followed by Coffee Carriage at Maghull, and have now launched another Coffee Carriage, at Formby, reports the Liverpool Echo. “Maghull has gone down tremendously well, which has allowed us to expand quicker than we actually thought we could do,” McLellan said. “The community has really wrapped itself around it and we’re trying to do the same in Formby, but it’s a different demographic.” He added that he eventually wants Coffee Carriages at all major Merseyrail stops, and he and Reeves have their eye on other stations. “We’re focused on getting this right and supporting our existing stores in Maghull and Hunts Cross, and we’ll look to expand later,” he said. “We’ve spoken about getting a space in the new Baltic station – we’ve got our fingers in the pie with that one.” Suzanne Grant, chief commercial officer of Merseyrail, said: “It’s fantastic to welcome another Coffee Carriage shop to the Merseyrail network. Craig and Rory’s two other outlets, at Hunts Cross and Maghull, are hugely popular with our customers, and I’m sure the Formby station outlet will be just as successful.”

 

Cheshire hotel group reports leisure trade in 2024 ‘positive’ but customers ‘price sensitive’: Boutique Hotel Group – which operates Nunsmere Hall, Peckforton Castle and Inglewood Manor in Cheshire – has said leisure trade this year is “positive” but customers are “price sensitive” as they look to third-party channels for the best deals. The company said year-to-date average room rate is £94.21 against a budget of £79.90. It comes as the group reported turnover fell slightly to £12,718,607 for the year ending 31 October 2023 compared with £12,737,622 the year before. Pre-tax profit was down to £1,598,715 from £1,820,125 the previous year. In their report accompanying the accounts, the directors stated: “Staffing last year was one of our biggest challenges with a shortage of chefs as still been difficult to manage, particularly at Inglewood, as we do not have live in accommodation there. Our recruitment is an ongoing process, but we feel we are now building a stable team in all areas to move forward and stop the need to use agency staff so frequently. The outlook for the rest of 2024 and beyond for weddings remains strong, particularly in the summer months. Leisure business seems to be positive, although it is fair to say it is price sensitive and customers are looking to third-party channels to get the best deals. Wedding sales further ahead into 2025-26 seem to be extremely strong and January 2024 was one of our best months to date for selling weddings going forward. While inflation seems to have peaked and now making its way back down, we continue to closely monitor food and drink cost prices. A refurbishment programme will be implemented slowly.” A dividend of £528,000 was paid (2022: £518,000).

 

Family-owned Lancashire hotel group sells two hotels for £5.3m to service parent company loan, returns to profit following two previous hotel sales: Family-owned Lancashire hotel group Paragon Hotels has sold two hotels for £5.3m to service its parent company loan. The sales, in May 2024, saw a profit on disposal of £800,000, and following the disposals, £5.1m was repaid on the loan due to its parent company. It comes after the group returned to profit in the year to 28 March 2024 after selling two other hotels for £5.1m in October 2023. The sales earned the group a profit on disposal of £1.6m, which it said gives it “a sound financial base from which to further improve the business”. The group, which has been under the same family ownership for more than 25 years, reported turnover of £18,605,000 for the year, up from £18,428,000 in 2023. The company turned a pre-tax loss of £1,531,000 in 2023 into a profit of £823,000. No dividends were paid (2022: nil).

 

Birmingham hotel that went into administration last month placed on market for £12m, Marco Pierre White restaurant continues to trade: The Cube Hotel in Birmingham has been placed on the market after its owner collapsed into administration last month. Operator MSHA Global Investments appointed administrators at Quantuma just two years after acquiring the hotel in a £12.5m deal. Watling Real Estate and Graham + Sibbald are selling the long leasehold interest for £12m. The property comprises a 52-bedroom hotel, a 180-cover Marco Pierre White branded restaurant, and a rooftop bar along with private dining and function rooms. The hotel and Marco Pierre White restaurant remain open and fully trading while advisors from Watling Real Estate and Graham + Sibbald seek a purchaser for the business and assets as a going concern. MSHA owns the leasehold to the Marco Pierre White restaurant, but it is unaffected by the administration. Black & White Hospitality owns the master franchise rights to the restaurant located on the top floor of The Cube and the restaurant and bar continue to take bookings and operate as expected. The Cube Hotel employs nearly 100 members of staff that have been retained by the administrators.