Propel Newsletter Archive Page

Various Eateries appoints new CEO: Various Eateries, the Hugh Osmond-backed business, has appointed Mark Loughborough as chief executive, effective 20 January 2025. Loughborough has more than 30 years of experience in the hospitality industry, including most recently 14 years at Young’s where he served as retail director. During this time, he played an instrumental role in the successful transformation of Young’s pubs, overseeing the operation of 280 sites and 1,050 bedrooms across London and the south of England and managing £490m in revenue and £142m in Ebitda. At the same time, Andy Bassadone will transition from executive chairman to executive director on the group’s board and continue his focus on Noci as its founder. Glyn Barker, current non-executive director, will assume the role of non-executive chairman. Bassadone said: “Mark’s exceptional leadership, strategic vision and focus on operational excellence have been pivotal in shaping one of the most respected companies in the hospitality sector. His experience and expertise align perfectly with our goals of driving growth and enhancing profitability and I am delighted to welcome him to the group. These board changes strengthen the group’s leadership structure, positioning us to execute our strategic ambitions. With his deep understanding of the business, extensive public markets experience and strong governance credentials, the group is in very capable hands with Glyn as non-executive chairman.” Loughborough added: “The group has strong foundations with distinct brands, a high-quality site portfolio and one of the most accomplished leadership teams in the industry. I look forward to working with them to unlock its full potential.” Barker said: “With Mark coming on board as chief executive, the group is well-positioned to enter its next phase of growth.”

Propel 500 report out now – see which 77 pub & bar companies feature on the list: Propel’s Top 500 report showcases the UK’s leading hospitality operators ranked by turnover – and is available now. Together, the Propel 500 companies generate more than £30 billion in turnover across 51,000 sites and the report spans seven key segments: pubs and bars, hotels, quick service restaurants (QSR), casual dining, cafe and bakery, experiential leisure and fine dining. There are 77 pub and bar companies operating 20,000 sites featured, and a list of these operators can be discovered now by visiting the Propel 500 page on Propel’s website. This comprehensive report provides more than 90,000 words of analysis, delving into company histories, leadership structures, site numbers, and financial performance, making it an essential resource for industry professionals. The guide is delivered in two parts: an introductory PDF, featuring deep dives into the top 25 companies and 6,500 words of insight from Propel’s expert writers, and a fully searchable Excel sheet, offering easy access to all the data. Key highlights include Mark Wingett’s exploration of mergers and acquisitions shaping the Top 500’s future, Tim Street’s view of the UK’s franchise market, and Phil Pemberton’s insights into experiential leisure as a hospitality cornerstone. Katherine Doggrell examines developments in UK hotels, while Mark Bentley, business development director at HDI, identifies emerging growth sectors, and Maria Vanifatova, founder of Meaningful Vision, analyses trends in QSRs. Propel 500 is available now for £595 plus VAT. Existing Premium Club members can purchase it for £395 plus VAT. Premium Club members will receive the report for free on Friday, 28 February at 9am. Order the Propel 500 report today by emailing: kai.kirkman@propelinfo.com.

Halt rail strikes or we’ll suffer £1bn loss, say hospitality bosses: Hospitality bosses have urged the government to fix the railway strikes “crisis” as they warn that a five-month-long series of walkouts is about to inflict a new £1bn blow to the sector and damage the wider economy. Train managers represented by the National Union of Rail, Maritime and Transport Workers (RMT) have said that they will strike every Sunday until 25 May this year, in a dispute over their pay for working on rest days. The Night Time Industries Association (NTIA) warned of an estimated £1bn revenue hit to the sector from the latest industrial action. “The latest wave of industrial action is yet another devastating blow to the night-time economy, which has already endured staggering losses of more than £6bn due to rail strikes in the past three years,” Michael Kill, chief executive of the NTIA, told The Mail. Sir Tim Martin, founder and chairman of JD Wetherspoon, said the strikes added to mounting concerns over rising costs, including an increase to national insurance contributions for employers. “Paraphrasing Shakespeare, ‘the multiplying villains of nature do swarm upon’ the hospitality industry, which is depressed by imminent tax changes and is trying to rebuild post-pandemic,” he said. “A lot of hospitality is dependent on travel, so in two words, bad news.” The British Beer & Pub Association said the sector lost an average 5% in drinks sales on train strike days. The RMT said it was “sorry for the disruption to passengers and any impact on the hospitality industry”. A Department for Transport spokesperson said: “This is a local dispute between Avanti and RMT. The government has acted swiftly to end national rail strikes.” The strikes affect Avanti services between London Euston and Birmingham, Manchester, Liverpool and Preston, with a limited service from Carlisle to Glasgow. North Wales, Lancaster, Stoke-on-Trent, Blackpool and Edinburgh will have no Avanti trains.

Company behind Liverpool’s Hope Street Hotel feels benefit of investment as turnover increases to £11.5m: The company behind Liverpool’s Hope Street Hotel has said it is feeling the benefit of its investment in the property as it reported turnover increased to £11,536,007 for the year ending 31 December 2023 compared with £9,595,213 the year before. Pre-tax profit was down to £2,390,007 from £2,577,274 from £1,462,284 the previous year. In May 2023, the company opened the L1 Hotel within a historic building at Liverpool ONE following a £2.5m investment. The cash used was generated by ongoing profits of the Hope Street Hotel with no additional outside finance. In their report accompanying the accounts, the directors stated: “Hope Street Hotel has undergone a significant expansion project over the past few years, with the introduction of 62 new rooms, a luxury spa, additional conferencing facilities and a new restaurant called 1931. The business is now feeling the benefit of the investment. Gross company profit margins have remained at a similar level with comparative periods, coming in at 86.62% in 2023 (87.22% in 2022). This is indicative of high quality management, with robust controls and proactive management of business risks in a challenging, competitive travel and tourism environment in the city. Due to maintaining our gross margins and improving our economies of scale position, Hope Street Hotel has maintained a net profit margin before depreciation of 25.27% (2022: 29.95%), the slight dip in net profit margin was expected due to increased wages in line with the national living wage increase. Our average room rate for Hope Street Hotel has stayed consistent with 2022 at £134.40 (2022: £134.80), which is indicative of the current competitive marketplace.” No dividend was paid (2022: nil). The company employs around 225 staff.

Blackpool hotel operator reports record turnover of £8.4m: Alf Seddon Hotels, which operates two sites in Blackpool, has reported turnover increased to a record £8,406,209 for the year ending 30 April 2024 compared with £7,818,793 the previous year. Pre-tax profit was down to £728,384 from £937,604 the year before. A dividend of £425,000 was paid (2023: £393,005). The company, which employs around 150 staff, operates the Elgin Hotel and the Sheraton Hotel in Blackpool.