Propel and AlixPartners to unveil the sector’s fastest growing companies: Propel has partnered with leading sector advisory firm AlixPartners to launch a new industry benchmarking initiative that measures profitability growth across the broad church of the UK’s hospitality sector. The new Growth Tracker will be based on Ebitda growth across the last three sets of filed accounts. It tracks eligible financial periods, starting post-July 2021, to ensure the effects of covid-19 restrictions do not impact the results. The top 25 companies in the inaugural Growth Tracker will be unveiled at the Propel Multi Club summer conference and party on Thursday, 4 September at the Oxford Belfry, which is attended by around 500 of the sector’s leading operators and suppliers. The unveiling of the inaugural growth list will take place as the culmination of the conference at 5pm. Propel managing director Paul Charity said: “This is an exciting project because this is a sector where innovation and excellent execution can still lead to impressive growth.” Graeme Smith, managing director at AlixPartners, said: “Despite some challenging trading conditions, standout businesses have continued to generate growth. The Growth Tracker reflects this and highlights the fact that growth is being found across the breadth of the industry, from wet-led pub companies to premium casual dining operators, from QSR concepts to bakery chains and franchisees. We look forward to revealing the first top 25 companies in the Growth Tracker and expect the new tracker to become a benchmark for industry and go-to resource for those looking to invest in the sector.” The Growth Tracker will be based on a rigorous set of credentials. For companies to be eligible, they must be primarily F&B or competitive socialising-focused businesses and not be a subsidiary of another operating business (the data will be picked up as part of the data for its group), show active filed accounts at Companies House within the required legal filing date, and must not have been involved in any formal restructuring process (e.g. CVAs) over the relevant period. Ebitda is determined as reported statutory Ebitda per Companies House filing, with directors’ emoluments added back to reflect differences in remuneration structures for privately-owned businesses. Qualifying companies must report Ebitda of at least £1m in the first accounting period and report positive Ebitda across all three sets of accounts (which will be pro-rated to 12 months in the event of short or long accounting periods). The Propel Multi Club summer conference and party takes place on Thursday, 4 September at the Oxford Belfry. There are up to two free places per company for operators, and Premium operator subscribers can book up to four places. To book, email kai.kirkman@propelinfo.com. A room can also be booked for the evening at an additional cost. For the full speaker schedule, click here.

Government’s plans to overhaul planning and licensing rules labelled as ‘nonsense’ and ‘displacement activity’: High-profile sector players have criticised the government’s plans to overhaul planning and licensing rules, including the introduction of dedicated hospitality zones, as “utter nonsense” and a “displacement activity while they annihilate the hospitality business with costs”. Over the weekend, the government announced plans to overhaul planning and licensing rules, which it said would make it quicker and easier for new cafes, bars and music venues to open in place of disused shops. It said it would introduce a new National Licensing Policy Framework, which will modernise outdated planning and licensing rules – “cutting the cost, complexity, and time it takes to open and operate hospitality venues, and helping small businesses grow and communities reconnect”. New dedicated hospitality zones would also be introduced where permissions for alfresco dining, street parties and extended opening hours will be fast-tracked – “helping to bring vibrancy and footfall back to the high street”. Alex Reilley, chairman of Loungers, said: “This is just utter nonsense. With Labour knowingly taxing hospitality businesses out of business, why would anyone want to open a hospitality start-up? Labour is wilfully crushing ambition and penalising job-creators and this policy is just tokenistic rubbish.” Serial sector investor Luke Johnson said: “We already have plenty of hospitality zones. Unfortunately, they are being crippled by taxes – national insurance, business rates, VAT, alcohol duty etc. These headlines from the government are displacement activity while they annihilate the hospitality business with costs.” JW Lees managing director William Lees-Jones said: “If this came with the long-awaited review of business rates, then it could do good things but it stinks of a desperate government trying to revive the high street in the face of e-commerce and not giving much back to support the hospitality sector.”