Ian Edward – ‘the relationship between private equity and the sector has changed irreversibly’: Ian Edward, sector investor, chair of Incipio Group, and special advisor to advisory firm AlixPartners, has said the relationship between private equity and the sector has changed and that is “probably irreversible” and businesses will increasingly look at “capital lighter” models. Speaking on Propel’s In Conversation podcast, Edward said: “If you go back a few years, we could all make 40% return on capital on sites. But now building sites have gone up in price and that’s unlikely to change. There are also structural changes in the P&L, which are probably going to be very hard to reverse. I think small sites are in deep trouble, and probably will go mainly to quick service restaurants. That says to me that the three-to-five years quick turnaround in our sector is going to be very difficult to achieve in those older assets. So, you have to accept longer forms of capital and that moves more towards maybe family offices, who can take long-term views, who are sensible about the fact you grow slowly. The other thing it will make people think about are models where the actual amount of capital they have to put into the business is much lower. Using Incipio as an example, we have gone, not capital light, but certainly capital lighter than we were. And so, you go into bigger places where the landlord is putting up some of the money and you are paying a substantial amount of rent, but if your business performs very, very well, your P&L looks very strong, your return on capital looks strong, and your exit looks more interesting than it would otherwise. So, I think we are going to have different models over the next two years that are going to be capital lighter, and that's probably a good thing.” Craig Rachel, director at AlixPartners, said quite a few businesses are “putting their foot on the ball” at the moment and assessing when would be the right time to exit. He said: “They are assessing whether we really need to go, or is there plenty enough to keep us busy as a management team, and is it best to really focus on driving the underlying quality of the business and then actually pulling the trigger slightly later on? A lot of businesses we're speaking to at the moment are thinking very carefully about what a transaction might look like in 2027. The market is that much more competitive now, and we're seeing some capacity come out. The real question is, what is that future growth plan? Is it international? Is it franchising? Are there alternative formats? And that's how you could really drive growth, because the way the debt markets are today, you can't force growth through capital structure engineering. You have to actually grow the underlying profitability of the business for everybody to make money, and that's where people are focusing.” In Conversation is a series of podcasts, exclusive for Propel Premium Club subscribers, featuring industry leaders and sector players talking about their businesses and issues impacting the UK’s hospitality market. 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.

 

Restaurateur Jeremy King to speak at first Propel Multi-Club Conference of 2026, open for bookings: Restaurateur Jeremy King will be among the speakers at the first Propel Multi-Club Conference of 2026, which is open for bookings. Over the past 45 years, King has changed the way London eats, creating some of the city’s most iconic dining rooms and restoring others to their former glory. King, who has been described as the greatest living London restaurateur, talks to Propel chief operating officer – editorial, Mark Wingett, about how his return to the sector has gone, what has been different this time and where he sees the restaurant market in the capital going. The conference takes place on Wednesday, 25 March, at the Park Plaza, Victoria. For the full speaker schedule, click here. Operators can book up to three free places per company while Premium subscribers who are operators can book up to four free places. To book, email kai.kirkman@propelinfo.com

Premium Club subscribers to receive next Who’s Who of UK Hospitality on Friday: The next Who’s Who of UK Hospitality will be released to Premium Club subscribers on Friday (20 February), at midday. Another 54 companies have been added to the database, which now features 1,434 companies. This month’s edition will also include 177 updated entries. The companies, listed in alphabetical order, will have their most recent developments reported as well as broader information around Ebitda, plans and trading style available. The database merges Companies House information, interviews and other public information to provide an easy to reference and exhaustive guide to the sector. Premium Club subscribers also receive access to five other databases: the Turnover & Profits Blue Book, the Multi-Site Database, the New Openings Database, the UK Food and Beverage Franchisor Database and the UK Food and Beverage Franchisee Database. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events and discounts on specialist sector reports. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers 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 subscribers also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel chief operating officer – editorial, 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.

UKHospitality CEO – ‘the government chose not to heed warnings on business rates’: Allen Simpson, chief executive of UKHospitality, has said the government choose not to heed warning on business rates and for “months prior to the Budget” it was calling for the maximum 20p business rates discount to be introduced. It comes after Treasury minister Dan Tomlinson claimed last week the pub industry had failed to raise business rates concerns ahead of the Budget. Tomlinson added industry chiefs had not made any representations over the special methodology used to calculate pubs’ business rates. However, Simpson told Propel: “Hospitality businesses and industry bodies were well aware that rateable values were set to increase significantly and the existing 40% business rates relief was due to expire. It's why, for months prior to the Budget, we were calling for the government to introduce the maximum 20p business rates discount, because that was the only way to deliver lower bills. The government chose not to heed those warnings. This entire situation proves the business rates system is still not working for hospitality businesses. The government's review of valuation methodology is positive, but that is a longer-term reform that will not change the bills that are rising across the sector in April. The cost of doing business is too high and we need a hospitality-wide solution to bring it down.”

FindMyPub – ‘demand for pub opportunities resilient despite complex and demanding environment’: Industry recruitment company FindMyPub has said demand for pub opportunities remains resilient, despite a complex and demanding environment for operators. The company reported “strong demand at the top of the funnel” in its 2025 annual report, with 10,327 enquiries generated in 2025 and top-of-funnel demand growing 1.31% year on year. FindMyPub said this sustained enquiry volume “demonstrates continued appetite for pub opportunities across tenancy, lease and alternative operating models”. The report said enquiries across regions showed a varied relationship between the number of pub sites and enquiry volumes. The south east generated the highest number of enquiries (1,662) from 478 sites, indicating strong demand and high engagement, while the north west (1,270 from 440) and south west (1,316 from 383) also delivered more than 1,200 enquiries from large site bases. London produced 1,089 enquiries from just 157 sites, the highest enquiries per site. In contrast, regions such as Scotland (159 from 147) and the north east (146 from 235) recorded comparatively low enquiry volumes relative to their site numbers. Overall, southern regions and major population centres delivered stronger enquiry performance than smaller or less densely populated regions. Enquiries in 2025 continued to be driven primarily by experienced applicants, with 82% of enquiries coming from individuals with prior pub operating experience, and 74% holding a personal licence. In terms of investment, demand remains weighted towards lower to mid-level entry points, with 57% of enquiries coming from applicants investing £20,000 or less. The report said: “The UK pub sector in 2025 continued to operate within a complex and demanding environment. Ongoing economic pressures, evolving consumer behaviours and sustained increases in operating costs continued to shape decision-making across the industry. Vacancy levels remained elevated, reflecting both market movement and portfolio realignment, yet demand for pub opportunities proved resilient. Interest remained strong across tenancy, lease, and alternative operating models, demonstrating that, despite challenges, the sector continued to attract motivated and career-driven applicants.”

Campaign on behalf of independent cafes and roasteries ‘gaining traction’: A campaign on behalf of independent specialty cafes and roasteries across the UK to get local MPs to visit and listen to their owners is “gaining traction and getting results”. In January, Peter Dore-Smith from Kaffeine in London and Nick Cooper from Salt Media, which publishes the Independent Coffee guide, joined forces to form a platform for the 12,000 independent specialty industry cafes that have opened in the UK since 2005. In the last four weeks, meetings with several MPs have been organised, with more to follow. Cooper said: “The amount of people messaging us and saying thank you for providing this and for standing up is incredible and heartbreaking, but we do, as always, hold out hope that with a combined voice, we can get people to listen. This not just about cafes and roasteries but is also about the massive chain of supply that goes behind this.” Dore-Smith added: “The specialty coffee industry in the UK did not really exist before 2005. It is an industry and part of hospitality that is now integral to a high street or neighbourhood and provides a huge part of the social fabric that we all need. This is our last chance to make a difference and make a change.”

UKHospitality Cymru – ‘next Welsh government must properly reform business rates’: UKHospitality Cymru has set out its six key policy priorities for the new government ahead of the Welsh elections in May. The trade body’s priority ask is proper reform of business rates, with a permanently lower multiplier for hospitality and leisure, funded by rebalancing the burden to reflect the rise of the online economy. UKHospitality Cymru is also calling for the next Welsh government to immediately revisit the business rates support available for the current financial year. The trade body’s other recommendations include a review to assess the cumulative impact of regulation and taxation on hospitality and opportunities to reduce this. The report highlights that, with the right economic conditions, the sector can create an additional 17,000 jobs and add £520m to the Welsh economy by 2031. David Chapman, executive director of UKHospitality Cymru, said: “Hospitality is a sector with huge potential to grow, which the next Welsh government should be incentivising. That needs to begin with full reform of the broken business rates system. The current tweaks are nothing more than tinkering around the edges and have left hospitality paying even more. The next Welsh government should seize this opportunity to put hospitality, leisure and tourism at the heart of Welsh economic and social policy. As well as working with the sector directly, the government should engage with the entire farm-to-fork supply chain to lift our communities, high streets and visitor economy.”

Welsh BPA – ‘significant challenges still remain in delivery of successful deposit return scheme’: The Welsh Beer & Pub Association (BPA) has said significant challenges still remain in the delivery of a successful deposit return scheme (DRS). The government has confirmed that Wales will be allowed to include glass in its DRS, with a transitional period running until 2031. The scheme will still launch alongside the wider UK system in October 2027 and remain interoperable with the rest of the UK. The Welsh government has been granted an exemption to the Internal Markets Act, which allows it to go ahead with a DRS that diverges from that being introduced in England, Scotland, and Northern Ireland. Under the Welsh scheme, glass containers will be included in the materials in scope from day one but will only begin to have a deposit charged on them from 2031. A Welsh BPA spokesperson said: “This is a vital step in delivering an interoperable UK-wide deposit return scheme for aluminium cans and plastic bottles. However, granting an exclusion for single-use glass, even with the transitional arrangements, means significant challenges remain. It is vital to ensure that brewers selling beer in glass bottles in Wales do not face prohibitively high producer fees as a result and must also be exempt from extended producer responsibility fees as are other materials that are within scope of the DRS scheme.”

Job of the day: COREcruitment is working with a growing UK drinks business that is looking for a national account manager to drive the out-of-home side of the business. A COREcruitment spokesperson said: “The role involves building the product range into foodservice and out-of-home accounts (primarily across Brakes, Bidfood, Compass, Bestway and Aramark). The ideal candidate will have experience working with the foodservice sector along with a network of contacts within contract catering.” The salary is up to £60,000 and the position is based in London. For more information, email mark@corecruitment.com

Richard Caring’s London private members’ club Annabel’s reports record profit as turnover increases to £55.6m: London private members’ club Annabel’s, which is owned by Richard Caring, has reported turnover increased to £55,581,000 for the year ending 5 January 2025 compared with £52,275,000 the year before. Of the 2025 turnover, £25,721,000 came from food and beverage sales (2023: £25,535,000), £25,804,000 from membership income (2023: £23,400,000) and £4,056,000 from registration income (2023: £3,740,000). Adjusted Ebitda was up to a record £16,867,000 from £11,502,000 the previous year. Pre-tax profit jumped to a record £12,424,000 compared with £4,369,000 the year before. Labour costs as a percentage of turnover grew to 35% from 33% the previous year. In their report accompanying the accounts, the directors stated: “Trading surpassed the prior period, driven primarily by increases in membership income. Gross profit margin percentage improved marginally while conversion to adjusted Ebitda improved substantially, driven by strong membership performance and management of supplier contracts. Although consumer confidence was dented by various conflicts and uncertainty following a new government, the company's proposition proved compelling for our members, which contributed to another impressive year. Increases in living wages put pressure on achieving like-for-like labour margins without compromising customer service levels. The business plans to develop its member experience, menu offering and uphold customer service levels.” No dividend was paid (2023: nil). Annabel’s was founded in 1963 by Mark Birley, an entrepreneur who named the venue after his then-wife Lady Annabel Vane-Tempest-Stewart. The business was bought by Caring in 2007. In 2018, he move the club two doors down from where it began in Berkeley Square in Mayfair. Membership costs around £3,750 a year and there is a joining fee of around £1,850. The club has a vetting process and waiting list. Caring owns The Ivy and its sister brands as well as Bill’s. 

Punch CEO – ‘new £50m funding marks important milestone in our long-term, sustainable growth plans’: Andy Spencer, chief executive of Punch Pubs & Co, the Fortress-backed operator of circa 1,300 community pubs, has said the group’s new fundraise of £50m, marks “another important milestone in our long-term, sustainable growth plans”. Punch has raised £50m via a private placement of senior secured notes due 2030, reflecting a cost of debt to the company of 6.9%. The notes will mature on 30 December 2030. The notes will have the same terms and conditions as the existing £640m aggregate principal amount of senior secured notes due 2030. The proceeds will be used to repay Punch's existing super senior revolving facilities agreement; for working capital, including potential acquisitions; and pay fees and expenses incurred from the placement. Spencer said: “This marks another important milestone in our long-term, sustainable growth plans and reflects the strength of our business. These funds will support our continued focus on acquiring high-quality pubs, investing in our estate and, most importantly, backing our publicans and management partners to build thriving local businesses. We're excited about the opportunities ahead and encouraged by the clear confidence shown in Punch and our community-led approach, which continues to stand us in good stead for the future.” Last week, Punch reported revenue of £105.1m for the 16 weeks to 30 November 2025 compared with £97.3m the prior year, and said both its segments (leased and tenanted and pub partnerships) delivered like-for-like underlying Ebitda growth during the period. Since the end of last November, the company has completed on, exchanged or agreed to acquire 49 pubs for an aggregate cost of £42.2m. The 49 pubs include the 30 pubs acquired in a single package from McMullen’s and four pubs acquired from Stonegate (previously operated under the Mash Inns joint venture). It is thought some of the new £50m of funding was used as part of the McMullen’s deal. Punch said it would continue its strategy of looking to acquire individual freehold assets, while assessing packages of pubs when the right opportunities presented themselves. Currently 92% of its pubs are owned on a freehold or long-leasehold basis.

Wendy’s interim CEO – ‘debut Scottish restaurant delivering strong sales’, closing 5%-6% of US sites as part of turnaround plan: Ken Cook, interim chief executive of Wendy’s, the second-largest quick service restaurant brand in the US, has said its debut Scottish restaurant has delivered “strong” sales following its launch. Cook also said 2025 was an “important year as we began laying the foundation to rebuild”, with the business set to close between 5% and 6% of its circa 6,000 restaurants in the US by the end of the first half of 2026 but added its international business “continued to be a strong growth engine”. In December, Square Burgers, which became the first traditional franchise partner to open a Wendy’s restaurant in the UK on the US company’s return to these shores, opened the brand’s first site in Scotland. Square Burgers opened the site in Linwood Road in Paisley, Renfrewshire, having signed a development agreement with Wendy’s in September. Speaking on the company’s fourth quarter earnings call, Cook said: “Our international business performance remained strong, with systemwide sales up 6.2% in the fourth quarter, its 21st consecutive quarter of growth. International expansion remains a key priority, and we continued our momentum, opening 59 new locations in the fourth quarter. New restaurant openings came from key stronghold markets such as Canada and Mexico, as well as new markets such as Armenia and Scotland, both of which delivered strong sales following their launch.” Wendy’s saw full-year global systemwide sales decline 3.5%, “highlighting the need for change across many areas of our business, including heightened focus on both operations and marketing effectiveness”, Cook said. Wendy’s announced a turnaround plan in November that would involve closing “consistently underperforming restaurants” in the US, where like-for-like sales dropped 11.3% in the fourth quarter, and Cook said on the earnings call that would amount to 5%-6% of the estate. But he was more buoyant about the brand’s international division, which delivered an 8.1% increase in systemwide sales in 2025, “with growth across all regions”. Wendy’s operates circa 50 sites in the UK.

Chocolate shop and cafe concept Chococo opens first shopping centre location: Chocolate shop and cafe concept Chococo has opens its first shopping centre location. The site, at Westfield Stratford City, is also the business’ second store in London, following the opening of its Dulwich chocolate house in December 2025. Located on the lower ground floor, Great Eastern Market, the 300 square-foot Westfield Stratford City store offers guests Chococo’s full range of award-winning handcrafted chocolates and a hot chocolate take-away service. The site is Chococo’s sixth chocolate house in the UK, with further locations in Swanage, Winchester, Exeter and Horsham. Co-founder Claire Burnet said: “We’re thrilled to be open our newest chocolate house at Westfield Stratford City. Our mission remains unchanged since we founded Chococo in 2002: to craft a range of exceptional chocolate-inspired products and experiences celebrating the very best of sustainable British creativity.” Founded in Swanage in 2002 by Claire and Andy Burnet, Chococo has championed a responsible approach to fine chocolate rooted in sourcing sustainable, slave-free, single-origin chocolate through direct trade relationships and celebrating the best local, natural ingredients and colours. As previously reported, Chococo will open in London’s Clapham this spring and is preparing for international expansion this year, with plans to open stores in San Marino, Italy and the US.

Japanese barbecue concept Yakiniku Like opens second UK site, alongside new Italian restaurant Fano: Japanese barbecue concept Yakiniku Like has opened its second UK site, at London’s Westfield Stratford City, one of six new food and beverage signings at the scheme. Adding to its site in Soho, Yakiniku Like, known for its interactive dining format, has taken a 1,995 square-foot space. The venue features individual smokeless grills. Originating in Tokyo, Yakiniku Like has circa 260 locations across Japan, Singapore, Indonesia, China, and made its first foray into Europe with the Soho site. Yakiniku Like is one of several operators opening in “The Street”, as part of a strategic move to establish a more defined food and dining zone within the centre. As revealed by Propel last month, Berberè, the independent Italian company founded by brothers Salvatore and Matteo Aloe, has opened at Westfield Stratford City for its fifth London site, which will be joined in the coming weeks by a new flagship Bill’s. The 5,371 square-foot restaurant will be the brand’s largest in more than a decade. Completing the line-up is Soul Mama, a new site from fast-growing bakery brand Gail’s, and Fano – a “contemporary Italian restaurant inspired by tradition”, which has opened at the neighbouring Chestnut Plaza. The signings are part of landlord’s Unibai-Rodamco-Westfield’s (URW) ongoing strategy to “enhance the customer journey and deliver new value across its centres”. Kate Taylor, of DCL, acts for URW.

Family-run north east bakery brand Dicksons opens 34th site: Family-run north east bakery brand Dicksons has opened its 34th site. The company has launched the outlet at Durham Road retail park in Sunderland. Founded in 1953, Dicksons also has a wholesale business supplying major supermarkets. 

Plan Burrito closing in on Lincoln launch: Burrito franchise Plan Burrito is closing in on plans to open a restaurant in Lincoln. Propel first revealed last summer that Plan Burrito was planning to launch in the city as part of its new openings pipeline. Lincolnshire Live now reports that Plan Burrito has submitted a licensing application for a premises in The Strait, at the bottom of Steep Hill. Building work is currently underway on the premises, which is located next to the Strait & Narrow bar and has previously been occupied by Cafe Gelato, The Cheese Society and a jeweller. Last month, Plan Burrito founder Stephen Hopper told Propel that the 15-strong business has said it is planning to more than double in size to 40-plus stores this year. The business is also lining up five openings including in Treforest, Stevenage and Crawley over the next six months and is in talks on a further 13 prospective locations. Other planned locations include Cardiff, Wrexham, Northampton and additional London boroughs. Hopper previously said the business has the potential for 500 UK sites long-term and 100 by 2028 but revised those to 100 by 2030 and a total potential of 250-300.

Thunderbird Fried Chicken opens first Strip Shack site: Thunderbird Fried Chicken, the wings and fried chicken concept backed by TriSpan, has launched the first site under spin-off concept Strip Shack. A more compact, extraction-free model designed for non-traditional sites, the first Strip Shack has opened at Boxpark Shoreditch in London. Strip Shack focuses on chicken strips, dips, fries and shakes, and will open a further site later this month at Parkdean Resorts’ Sandy Bay Park, in Ashington, Northumberland. Thunderbird chief executive Paul Gilchrist said: “Matt Harris (Thunderbird Fried Chicken founder) and I first talked about developing a little brother to Thunderbird Fried Chicken, after visiting one of our equipment suppliers, almost three years ago. We wanted a concept that didn’t need extraction, with a lower capex build, which could be operated in smaller footprints, using less labour and generating lower cost of sales. Meet Thunderbird Strip Shack.” Boxpark said: “Hot on the wheels of Thunderbird Fried Chicken’s success, Thunderbird Strip Shack is the business’ dynamic and versatile ‘younger brother’. It represents the next evolution of the business: the same crave-worthy taste, now engineered to fly further.” Thunderbird currently operates six sites under its eponymous concept and seven under a franchise agreement with Parkdean.

North east Indian restaurant operators to open third site: The team behind two Indian restaurants in the north east is to open a third site. The former Rumi’s site in Front Street in Shotley Bridge, County Durham, is set to be converted into a Kushi, reports the Northern Echo. The owners, who also run the Morpeth and Brockwell Tandooris in Northumberland, said: “We are delighted to announce that we have purchased the former Rumi’s in Front Street in Shotley Bridge. We have big plans to transform the restaurant into an exciting new venue for the area.” The business states it is set to open in spring 2026, but no official date has been confirmed.

Former Hub Box operations director to begin expansion of Crave concept: Sameer Shetty, formerly of Hub Box and the Rick Stein Group, is set to begin the expansion of his street food-inspired restaurant venture Crave, with an opening of a second site, in Bristol. Shetty, who spent six years as operations director at south west operator Hub Box, opened the first Crave in Exeter, on the city’s Quayside in summer 2024. The business has now secured a site in Whiteladies Road in Bristol, for an opening this spring. Shetty told Propel that after the success of the first site the business is now ready to expand and he was looking at opening a site a year going forward with a continued focus on sites in the south west. He said: “We have built a great team here and we want to take it on the journey with us, including giving shares in the business as it grows. We are excited about launching in a new city.” The company’s Exeter site includes chef Tom Lodge, who later this month will appear in the new ITV2 TV series, The Heat, which sees ten ambitious chefs travel to Barcelona, working under multi-Michelin star, award-winning chef Jean-Christophe Novelli.

Co-owner of Trullo in London’s Islington to launch debut solo venture next month: Conor Gadd, co-owner of Trullo in London’s Islington, is to launch his debut solo venture next month. Gadd will open Italian restaurant and bar Burro in Covent Garden on Wednesday, 11 March. The menu at the Floral Court venue will feature Italian classics, as well as some dishes “created specially to suit the evocative room and historic surroundings of Covent Garden”. As well as a variety of pasta dishes, mains will include Dover sole with caviar, lobster “aqua pazza” and a Vitello al Burro. The drinks list will feature an all-Italian wine list “rooted in regional expression”, with a particular focus on Piedmont and Tuscany. There will also be cocktails, spirits and bottled beer. Gadd said: “Never in my wildest dreams did I imagine opening a restaurant in Covent Garden. But as soon as I saw the room – and the courtyard – I knew it was an opportunity I couldn’t miss.” Gadd joined the Trullo team as head chef shortly after it opened in 2010 and in 2022 took over as managing director.

Administrators put Birmingham hotel back on market with near-£5m price cut: Administrators have put Birmingham hotel the Cube back on the market with a near-£5m price cut. The four-star city-centre hotel and restaurant overlooking Brindleyplace, originally offered at £12m in mid-2025, is now on the market for £7.2m. The hotel occupies four floors of the 25-storey Cube building, featuring 52 en-suite bedrooms, a Marco Pierre White franchise restaurant, a cocktail lounge, and a terrace. MSHA Global Investments, the former operator, entered administration in July last year with debts of around £9m. Initial discussions between administrators Quantuma and potential buyers did not result in a sale, prompting the renewed listing. The leasehold has 110 years remaining and operates on a peppercorn rent. Knight Frank is marketing the hotel.

London hotel operator sees turnover and profit fall: TLC Hotels, which operates one hotel in London and is developing two more in Cambridge, has reported turnover fell 6% to £6,590,108 for the year ending 30 April 2025 compared with £7,020,678 the previous year. Of the 2025 figure, £5,905,521 came from rooms (2024: £6,301,096), £482,431 from food and beverage (2024: £499,357) and £202,156 from other income (2024: £220,225). The company, which was incorporated in 2020, saw pre-tax profit fall to £56,095 from £205,008 the year before. At the end of the year, the company had net assets of £22.8m (2024: £30.4m). No dividend was paid (2024: nil).

North Yorkshire wedding and events venue secures refinancing package to support growth: Family-run, North Yorkshire wedding and events venue, High Brockholme Barns, has secured a refinancing package with Metro Bank to support its growth. Situated on land that has remained in the Hugill family for three generations, High Brockholme Barns continues a long tradition of family stewardship. First acquired in 1924 and originally operated as a mixed dairy farm, the estate has continually evolved under the Hugill’s custodianship. In 2024, the existing land was transformed into a luxury wedding and events venue, comprised of an events barn housing the ceremony room, a six-bed detached house for up to 12 guests and four three-bedroom units, as well as a honeymoon suite, all of which can accommodate up to 26 guests. Heather Hugill, co-owner of High Brockholme Barns, said: “We’re thrilled to secure this refinancing package, which will act as a vital springboard as we move into the next phase of our growth.”