Drew Brown steps down as MD of Grosvenor Pubs & Inns: Drew Brown has stepped down as managing director of Grosvenor Pubs & Inns, the 11-strong business led by sector entrepreneurs Jason Myers and David Ramsey, to become managing director of Forest Holidays, part of the Forge Group. Brown, who was previously at Dominion Hospitality, The Bannatyne Group and Whitbread, leaves Grosvenor after three and a half years as its managing director. Myers is to step in as chief executive, with Toni Morris-Ditty promoted from chief operating officer to acting managing director. Brown said: “Reflecting on my time at Grosvenor, I can confidently say that it hasn’t been easy. However, it has been exciting, challenging, and rewarding, and I have learned a great deal. As the industry emerged from the covid-19 pandemic, we faced some of the biggest challenges of my 30 years in hospitality. Despite these hurdles, I’ve been fortunate to work alongside some of the most dedicated industry leaders and talented individuals, making this journey both fulfilling and rewarding. I am proud to leave the business in a stronger position than when I arrived, and I am confident that Grosvenor will continue to thrive. The business is in very capable hands, and I am excited to see it continue to grow and evolve. I’m also thrilled to begin this new chapter with the Forge Group, a certified B-Corp, leading Forest Holidays – a growing collection of 13 eco-cabin resorts across the UK. Their mission to connect people with nature, each other, and rural communities deeply resonates with me, and I am excited about the journey ahead. Due to the nature of my departure, I will be staying in close contact with the team at Grosvenor and will be on hand to support the transition wherever I can. I would like to extend my sincere thanks to Jason Myers, Shara Myers, David Ramsey and the entire Grosvenor Pubs & Inns board for their unwavering support and guidance during my tenure.” Forest Holidays features in the Premium Club Turnover & Profits Blue Book, which is available exclusively to Premium Club members and features 1,039 companies. Its turnover of £37,569,000 for the year ending 30 September 2023 is the 287th highest in the 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 kai.kirkman@propelinfo.com to upgrade your subscription.

 

Discover how to leverage loyalty to drive incremental spend and additional visits: Discover how to leverage loyalty to drive incremental spend and additional visits at the Restaurant Marketer & Innovator European Summit. Jessica Cooke, director of media and loyalty at Stonegate Group, will share insights from her grocery sector experience and how she applied them to hospitality. She will discuss leveraging consumer insights to drive visits, boost spending and encourage product trials, as well as the success of the MiXR app, which revolutionised the guest experience and achieved a million downloads with support from top drinks brands. Restaurant Marketer & Innovator European Summit is returning for its seventh edition, and tickets are now on sale. The event is a partnership between Propel and Think Hospitality, aiming to build a community, promote the sharing of ideas, recognise talent and define the future of eating out. Bookings are now open for the two-day conference as the centrepiece of the January event series, taking place on 21 and 22 January at One Moorgate Place in London. The conference will focus on technology, marcomms strategies, proposition, brand building, the latest market insights, digital developments and diversification of revenue streams. It is designed for customer-focused chief executives, marketers, technology and innovation teams, as well as investors wanting to better understand the latest marketing, innovation and development opportunities to build market share and grow. For the full speaker schedule, click here. A one-day ticket for operators is £320 plus VAT while a two-day ticket is £575 plus VAT. Supplier tickets are £420 plus VAT for one day and £725 plus VAT for two. Propel Premium Club members receive a 20% discount. To book, email kai.kirkman@propelinfo.com.

Daylesford Organic losses increase but underlying Ebitda improves: Daylesford Organic, the company owned by Lady Carole Bamford, reported revenue grew by 10.4% to £55,454,457 in the year to 30 March 2024 after continued strength in retail and e-commerce divisions. Underlying Ebitda improved by £732,481 but there was a £1,006,000 impairment provision related to slow-moving and obsolete stock. There was also an exceptional cost of £308,000 in relation to a re-organisation of central operations and pre-opening costs of £392,000 in relation to the opening of Heritage House, a new dedicated events space that opened in March 2024 and a fixed impairment charge of £163,000. The loss before tax was £4,840,395 compared to £3,648,862 the year bore. Daylesford Organic said it was focused on the objective of advancing the company towards profitability and were encouraged by an increase in underlying profitability during the year. The company is a subsidiary of Bamford Collection Limited, with has no bank debt and held cash balances of £23.68m as at 30 March 2024. Dayleford Organic owes £58,318,341 to group undertakings.

 

Pieminister reports small boost to pre-tax profit as turnover grows 7%: Pieminister, the pie specialist led by Tristan Hogg and Jonathan Simon, has reported revenue grew 7% to £18,362,000 in the year to 31 March 2024. Pre-tax profits rose to £51,000 from £1,000 the year before – the company said this signalled “improved operational stability despite economic headwinds”. Wholesale sales rose 12% to £12,157,000. Retail sales were down £125,000 to £6,205,000. The company closed three retail shops and has closed its Liverpool site since the year-end. Innovation included the launch of filo products, all of which are under 400 calories for health-conscious customers – these are listed in Waitrose, Ocado, Tesco and Sainsbury’s. Since the year-end, the company has launched a range of Handy Pies – handheld pies that can be eaten hot or cold in four flavours – these are also listed in Waitrose, Tesco and Ocado. 

 

Acquisition of eight KFC sites from company plunges franchisee FT Foods £6m into the red after “unprecedented economic challenges”: FT Foods, the company owned by Fazan Tahir, now operating 25 KFC sites, has reported the acquisition of eight sites from the main company under a re-franchising programme plunged his company into the red as economic challenges piled in. Sale rose to £53,677,377 in the 15 months ended 31 March 2024 (£22,735,604 in the 15 months to 21 December 2022). But loss before tax was £6,172,678 compared to a loss of £195,522 the year before. The company stated: “Given the unprecedented economic challenges, some of which were fuelled by geo-political issues during 2023 and continuing into early 2024, supply chain inflation, substantial energy cost increases driven by National Minimum Wage rates and significant hikes in interest rates all served to significantly damage the business model such that Ebitda declined by more than 6.5% compared with the previous year. Given the coming together of all these adverse impacts, the director is not surprised by these effects on the downturn in profitability and performance of the business.” The company added the post-acquisition performance of the eight acquired KFC sites was adversely impacted by the factors listed above and added further pressure to the company’s debt servicing capabilities. However, FT Foods reported a turn-around since 1 April 2024 with supply chain deflation and less product discounting had led to six months of positive double digit Ebitda performance. Fazan Tahir joined parent company Tahir Group in 1994 and he grew his KFC franchisee business “faster organically than any other franchisee-owned business in London”. 

 

Boutique hotel operator Dakota Hospitality reports drop in profit before tax: Dakota Hospital, which operates boutique hotels in Glasgow, Leeds, Edinburgh, Manchester and Eurocentral, has reported turnover rose £1m to £38.2m in the year to 31 March 2024 because of increased room sales of £1.3m driven by an improvement of room rate of 4.4%. Administrative expenses rose by £3.2m to £29.5m because of higher utility costs of £800,000 and rent payable to related party , Evans Dakota Hotels, of £7m, an increase of £900,000. Food and drink sales were £600,000 lower because Salon Prive at Dakota Leeds was converted to an additional ten bedrooms. Profit before tax was £88,954 compared to £2,232,668 the year before. The company stated: “There was a substantial improvement to trading from the Scottish properties, benefitting from the full return of significant summer event which increased leisure travel.” A new 118-bedroom hotel is scheduled to open in Newcastle in Spring 2025. A prime city centre site in York was acquired in February 2024 and the company is undergoing a public consultation process for a proposed new hotel. A prime site at Manchester airport has also been secured and a planning application was submitted in June 2024. Average revenue per available room was £122.94 (2023: £116.60) and adjusted Ebitda was £8,395,000 (2023: £9,282,000).