MJMK – beginning to explore international opportunities, festive like-for-like sales up circa 12%: London restaurant operator MJMK Restaurants, which is behind Casa do Frango, AngloThai, KOL, Lisboeta and Fonda, has told Propel that it is starting to look at international opportunities and isn’t planning on opening any new restaurants in London this year. The business, which was founded in 2018 by Jake Kasumov and Marco Mendes, said it would focus on its existing UK estate over the coming 12 months but had begun to explore opportunities in the US, Middle East and Far East. Graham Harris, MJMK's finance director, told Propel: “Given the success of some of the brands and recent launches over the last 12 months, we definitely think there is an opportunity there. There’s definitely potential with the likes of Fonda and Casa do Frango, in some of the big cities overseas, in the US, the Far East, the Middle East. In terms of what route we go down – company owned or joint venture – we haven't made those decisions yet.” It comes as the company, which operates three Casa do Frango sites in the capital, delivered an increase in like-for-like sales across its estate of nearly 12% in December and welcomed almost 50,000 guests. A number of sites had record weeks, with its busiest week taking nearly £1m, and Casa do Frango in London Bridge alone hitting £250,000 in that week. Total revenue for the Christmas trading period for the business was £3.6m. MJMK, which opened two new sites at the end of last year – Fonda with Santiago Lastra, of KOL, and AngloThai with chef partner John Chantarasak – has also made some changes to its head office team. MJMK has promoted Anneka Brooks to group operations director and hired Despina Christodoulou, from Arcade Food Hall and before that JKS, as its senior group brand manager. Harris said: “Grace Lord is also joining us as our new head of people and HR from River Café, and previously Hawksmoor. Beatriz Pereira joins us from Iberica, as marketing manager for our Portuguese sites, Casa do Frango and Lisboeta.” 

 

Propel’s Top 500 report – 123 quick service restaurant operators among leading companies: Propel’s report on UK hospitality’s leading 500 companies by turnover is out now and is searchable in seven main segments. Hotels lead the way with 125 companies (25.0%), followed by quick service restaurants (QSR) at 123 (24.6%), pubs and bars at 77 (15.4%), experiential leisure at 65 (13.0%), casual dining with 60 (12.0%), cafe bakery at 45 (9.0%), and fine dining at five (1.0%). A list of these operators can be discovered now by visiting the Propel 500 page on Propel’s website. With more than 90,000 words of analysis, the report delves into company histories, leadership structures, site numbers and turnover figures, offering an essential resource for industry professionals. The guide will be sent out as two files – an introductory PDF featuring deep dives into the top 25 companies and including 6,500 words of insight from Propel’s writers, and a fully searchable excel sheet where all the data can be easily accessed. The analysis includes Mark Wingett examining the mergers and acquisitions shaping the future of the Top 500, while Tim Street dissects the UK’s rapidly developing franchise market. As the experiential leisure sector becomes a cornerstone of modern hospitality, Phil Pemberton assesses how innovative experiences are attracting customers, while Katherine Doggrell examines the key developments in UK hotels. Data expert Mark Bentley, business development director at HDI, looks at emerging growth sectors, and Meaningful Vision founder Maria Vanifatova analyses the latest trends in the QSR market. 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.

Premium Club members 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 members on Friday (24 January), at midday. Another 18 companies have been added to the database, which now features 876 companies. This month’s edition will also include 129 updated entries. The companies, listed in alphabetical order, will have their most recent results 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 members also receive access to five other databases: the Multi-Site Database, the New Openings Database, the Turnover & Profits Blue Book, the UK Food and Beverage Franchisor Database and the UK Food and Beverage Franchisee Database. All Premium Clubs members will be offered a 20% discount on tickets to Propel paid-for events including Excellence in Pub Retail (May 2025) and discounts on specialist sector reports such as the Propel 500. 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.

Freehold pub prices drop 6% in 2024, increased market activity expected later in 2025: Average trading freehold pub prices dropped 6% in 2024, according to Fleurets’ 2024 survey of pub prices, with increased market activity expected to be seen later in 2025. The price fall compares with an 18% drop in 2023, a 41% jump in 2022 and a post-pandemic 9.5% rise in 2021. In the north, it was down 6% to £437,857 from £466,000, and in the south, it was also down 6% to £980,085 from £1,050,000. Leasehold prices increased 10% to £48,469, which indicated better quality/larger units coming to market, the report said. “One of the upsides of 2024 was the return of pubs being able to show two previous years accounts that were unaffected by covid, the post-covid bounce, staycation and grant support etc,” the report said. “This helped to demonstrate the ‘new’ level of sustainable trade when selling and valuing pubs, and this to a degree helped to support selling prices. Although utility costs were still an issue and the lack of available staff meant that many operators had to reduce opening hours, thus resulting in a drop in overall sales.” The report said the mid-market, which is driven largely by private buyers, has been most affected by the cost and availability of finance and lack of confidence. The report added: “Freehold pubs under £500,000 and those in prime locations have remained in demand. Despite the headwinds, there is still confidence in the sector with many corporate operators still acquisitive. Demand for sustainable pubs that fit into a clear operational model remains strong, especially among well-funded operators.” Looking ahead, the report said: “What is likely, is that while the market is anticipating an increase in failures resulting in a potential reduction in sale prices, decisions will be deferred and acquisition activity will be subdued, with buyers not wanting to commit funds just prior to a possible price correction. Where good quality opportunities arise, interest levels will be high, driven in part by the lack of available stock coming to the market. Longer term, the strong will survive, the sector is still attractive and with improved consumer confidence and access to finance we can expect to see increased market activity later in the year.”

Christmas celebrations getting earlier, speed of service biggest cause of complaint over festive season but getting basics right affects NPS more: Christmas celebrations are increasingly moving back to earlier dayparts, according to guest experience platform Feed It Back. Its Christmas Unwrapped 2024 report, based on a study of festive 24,000 visits from 28 leading restaurant brands, found that only 10% of festive celebrations were from 8pm onwards, with 56% between 12pm and 5pm. In fact, there were as many festive celebrations at 3pm as there were at 8pm. “This has been echoed by industry leaders, including Stonegate,” the report said. “Consider your festive menus and experiences to include specific afternoon packages.” The report also found that during December, speed of service becomes the biggest topic complaint from guests (17% of complaints compared with 15% normally), overtaking value for money (16% compared with 17% normally). “In reality, what guests complain about during December is the same throughout the year,” the report said. “In general, guests are almost twice as likely to complain about the speed of service than they are food quality.” However, when looking at net promoter scores (NPS), the top three complaints were all food-related – namely over or under-cooked food, food quality and food temperature. “Getting the basics wrong has a much bigger impact on NPS than any service related topic,” the report said. “While speed of service is the biggest topic complaint, 20% of guests that complained about it went on to be a promoter (rather than a detractor, in terms of NPS scores) compared with only 5% of guests who complained about over/under-cooked food.” Overall, the average NPS for a festive visit during the period in 2024 was 58, compared with 57 in 2023, while the average NPS for a non-festive visit in the period was 65, compared with 60 in 2023.

UKHospitality Scotland urges Scottish government to expand 40% business rates relief so entire sector benefits as thousands face higher bills: UKHospitality Scotland has urged the Scottish government to expand the 40% business rates relief so all sector businesses benefit as thousands face higher bills than their counterparts in England. The measures introduced in the Scottish Budget will provide 40% business rates relief for venues with a rateable value up to £51,000, but this leaves more than 2,500 hospitality businesses ineligible for support. Combined with increases to the intermediate and higher property rate, these unsupported businesses will see their rates bills increase by thousands year-on-year, the trade body said. Equivalent venues in England will receive 40% rates relief up to £110,000. A typical Scottish local pub, which just misses out on relief, will pay £12,000 more in rates compared with an equivalent business in England. For a town centre restaurant, it will be £17,000 more and a rural hotel will pay £25,000 more. UKHospitality Scotland executive director Leon Thompson said: “The lack of business rates relief has been the thorn in the side of Scottish hospitality for several years, and there was enormous optimism when the Scottish government announced relief measures in its Budget in December. That optimism quickly turned to despair for the thousands of businesses that realised they would be ineligible and that their bills would actually increase next year. For the third year in a row, many Scottish venues will also be tens of thousands worse off than their English competitors, too. We saw just last week how hospitality was the biggest driver of economic growth in November and I would urge the Scottish government to harness that potential by supporting hospitality through a universal 40% business rates relief.”

BBPA – raising digital travel permit cost ‘will only deter tourists’: People visiting the UK could pay £6 more for a digital travel permit if Home Office plans are approved – a move that will “only deter tourists”, the British Beer & Pub Association (BBPA) has warned. The government is proposing to raise the maximum price of an electronic travel authorisation (ETA) from the current cost of £10 to £16. Legislation to enact the change has been laid before parliament and is subject to approval. First introduced in November 2023, the ETA, a digital permission to travel, is currently required for all on-Europeans entering the UK without legal residence rights or a visa. ETAs will become a requirement for Europeans from 2 April. They are digitally linked to a traveller’s passport. Each ETA permits multiple journeys to the UK for stays of up to six months at a time over two years, or until the holder’s passport expires if that is sooner. A BBPA spokesperson said: “The tourism sector is a crucial part of our industry, with visitors travelling thousands of miles to visit a great British pub. Hiking the ETA fee will only deter tourists from the visiting the UK to try some of the world's best beer and hospitality. With a government ambition to boost the economy and increase growth, this decision will only damage those ambitions and underline the uncompetitiveness of the UK’s offer to tourists.” Meanwhile, the BBPA has said pubs must form an essential part of the government’s vision for 1.5 million new homes. The trade body partnered with think tank Create Streets for a new report exploring how what it termed “pub hubs” can help new towns develop vibrant high streets and flourishing neighbourhoods. BBPA chief executive Emma McClarkin said: “The social and economic benefits that pubs offer to the development of new towns and the expansion of existing ones are clear. Pubs are an essential part of the new government's vision for one and a half million new homes – a focal point and key community asset that will help ensure the success of these new communities. I hope this report serves as a call to action for policymakers, developers and communities alike to prioritise the creation of vibrant, connected spaces where people can come together and feel they're at home.”

More than a third of hospitality business leaders think AI will be transformational for the sector: A new study has revealed the overwhelming majority of hospitality business leaders are in favour of implementing artificial intelligence (AI) across the sector, with more than a third believing it will have a “transformational” impact on their businesses and organisations. At the same time, just 2% of individuals said they are unconvinced by the opportunities AI presents. The research, which comes from CGA by NIQ, in collaboration with Sona, the next-generation workforce management software company, found that more than half of business leaders (59%) are curious about the prospects of AI, but admit to needing more education and information on how it will play out. A third (39%) are confident that AI will be transformational for the sector, while 100% of operators think AI will be valuable to the running of their business, with 38% seeing it as extremely valuable and 62% as somewhat valuable. Only 17% of those polled claimed to be fully aware of how best to use it for their business. While there is enthusiasm for AI across the board, the research revealed there are nuances between large, multi-site operators and their smaller counterparts. Larger businesses are three-times more likely (22%) to have researched the benefits of AI for their business than those with less than 20 sites (7%), feeding into the narrative of an increasingly asymmetric market. More than three quarters of respondents (76%) accepted that hospitality is lagging behind other consumer-facing sectors when it comes to embracing AI, which reflected why the majority of business leaders (86%) are open to receiving third-party support and education on how AI can best be implemented into their day-to-day operations. 

Carlsberg completes £3.3bn acquisition of Britvic: Carlsberg has completed the £3.3bn acquisition of soft drinks business Britvic to create a single integrated beverage company in the UK. The combined business will be called Carlsberg Britvic. Carlsberg stated: “With the transaction now complete, we are excited to create a highly attractive supplier of beer and soft drinks in the UK with an efficient supply chain and distribution network that provides customers with a portfolio of market-leading brands and world-class service. The transaction brings together an experienced and capable management team from both businesses that will drive attractive growth for the combined business. With this acquisition, Carlsberg is also strengthening its existing relationship with PepsiCo, becoming its largest bottling partner in Europe.” Paul Davies, formerly chief executive of Carlsberg Marston Brewing Company, has taken up the position of chief executive of the newly formed Carlsberg Britvic. Elsewhere, Pedro Magalhães, retains his role as managing director of Britvic Brazil, and Kevin Donnelly remains as managing director of Britvic Ireland – with both markets now part of the Carlsberg Group. Carlsberg Group chief executive Jacob Aarup-Andersen said: “The Britvic acquisition is a pivotal milestone in the history of Carlsberg as we deepen our commitment to the UK market and write an ambitious next chapter in our growth story. Soft drinks is an attractive category that also brings significant synergies in combination with beer. Britvic is a large-scale, well-established business with a strong portfolio of much-loved own and partnership brands that has consistently delivered strong results.”

Job of the day: COREcruitment is working with a leisure hospitality business that is seeking a general manager designate and future operations director to join its team. A COREcruitment spokesperson said: “The individual will work closely with the operations team to ensure the efficient and profitable running of the site/park. This role will involve improving site/park performance, maximising sales and profit, and driving strategic initiatives for optimal operational efficiency.” The salary is up to £120,000 and the position is based in Manchester. For more information, email stuart@corecruitment.com. 

Chaiiwala gears up for US expansion: Indian street food franchise Chaiiwala is gearing up for its planned expansion into the US. Co-founder Sohail Ali told the Lunch! show 2024 last September that the business was planning a Stateside launch, where he believes it can open up to 900 sites within the next five years. Those wheels are now in motion, with Ali saying: “Exciting news as we kick off our expansion into the USA! We are actively seeking experienced franchise partners, distributors, supply chain specialists and real estate professionals to join us on this journey.” It would be a third international market for the circa 115-strong brand, which has 15 sites in Canada and three in the UAE, as well as closing in on 100 UK locations. This year marks Chaiiwala’s tenth anniversary since being founded in Leicester in 2015, and last year saw it achieve several landmarks. It made its airport debut with a launch at London Luton – the first food brand with a dedicated Indian street food offering in a UK airport setting – which was followed by a second, at Birmingham airport. Chaiiwala also opened its first site on a university campus, in Calgary, Canada, with plans for a debut UK campus site at Aston University, in the West Midlands. In 2023, Chaiiwala also launched the UK’s first Indian drive-thru, in Bolton, with plans for several further such locations, in partnership with EG Group.

Caffe Nero reports record Christmas trading, registering its highest ever single day of sales at £1.5m: Caffè Nero has reported record sales for the five-week Christmas trading period in the UK, recording two record sales weeks and its highest ever single day of trading on Saturday, 30 November. The company said that overall sales for this period were up 14% over last year. For the five festive weeks through to Monday, 30 December, Caffè Nero in the UK saw like-for-like sales up 9% compared with the same period the previous year, and for the first time, sales in a single week of more than £9m were recorded for two consecutive weeks. During the period, Caffè Nero registered its highest ever single day of sales at £1.5m, the equivalent to its first full year of trading in 1997. The brand also saw a record number of customers served in a single week during the week of 9 December. More than two million customers were served in the UK in a single week for the first time, which was 3.3% customer growth on the same period the previous year, with more than 40% of all transactions coming via its app. Founder and group chief executive Gerry Ford said: “I'm very pleased with how we performed over the festive period. Despite a challenging macroeconomic climate and the impact of two very disruptive storms, we performed extremely well. The record number of customers who chose to visit our stores shows we are continuing to gain market share and the strength of our store teams and the impact our festive menu made a real difference. Not only did we serve two million customers in the UK during the festive period, but we sold 175,000 tiramisu lattes and 100,000 mince pies.”

Whitbread CEO – running restaurants, bars and cafes has got more expensive than it was 12 months ago: Dominic Paul, chief executive of Whitbread, has said that running restaurants and bars and cafes has got more expensive than it was 12 months ago, but that he is encouraged by the new food and beverage spaces the company has already opened. Last week, Whitbread reported its UK food and beverage sales “continue to perform in line with expectations and previous guidance” as the company said it was making “good progress” on its strategic plan. At the end of April, Whitbread, which operates the Beefeater, Bar + Block and Brewers Fayre brands, set out plans to exit 126 of its lower-returning branded restaurants as it seeks to optimise its food and beverage offer. The revamp, costing £500m over four years, will also include the conversion of 112 restaurants to 3,500 new hotel bedrooms. Paul said: “We’ve started building extensions in some of the hotels, and we’ve started building some of the new food and beverage spaces. And we've got a number that are already open. I've stayed in a few of those hotels over the past few weeks. I've experienced the new food and beverage areas. They're really good. Remember why we're doing this. We're doing it for two reasons: one, to create new hotel rooms, more profitable than running a restaurant. Two, we're doing it so that we can invest in the space and make a better guest experience. Our indications on the ones that have opened so far, that’s absolutely the case. We're seeing guest satisfaction levels in those spaces higher than pre the conversion, which is really encouraging. I think some of the changes you've seen over the last few months with the Budget, for example, means that actually running restaurants and bars and cafes has gotten more expensive than it was 12 months ago. I think it underlines that fundamentally, we've made the right strategic decision here on investing in our core estate, making the guest experience actually stronger, but also removing the drag of less profitable restaurants replacing with profitable hotel rooms.”

Itsu sites franchised to HWS temporarily closed: A trio of Itsu sites operated by franchisee Heart With Smart (HWS) have temporarily closed. The sites at Reading Gate, Aberdeen Union Square and Edinburgh St James Square have shut in the wake of HWS, which oversees the operations of the UK Pizza Hut dine-in restaurant business, being acquired by US private equity firm Directional Capital via a pre-pack deal. The deal saw the transfer and continuing operation of 139 Pizza Hut restaurants across the UK. Itsu, the healthy Asian food brand created by Julian Metcalfe, partnered with the team behind Pizza Hut Restaurants to launch its first franchise, in summer 2021. A sign in the Aberdeen site said: “The Itsu here in Aberdeen is closed and will hopefully reopen soon. We are so sorry for the inconvenience. Of the many beautiful Itsu restaurants across the UK, three were franchised to HWS, including this busy one. The lease and ownership rights have unfortunately got caught up in the administration process. This restaurant has had to close while things are sorted out. We hope to reopen soon.” 

Gym group secures £4m investment, hires former JD Sports CFO: Gym group NRG Gyms, which has six locations across the UK, has secured a £4m investment. The company, founded in 2013 by Shafiq Ahmed, has received the cash injection from Puma Growth Partners. The funds will support NRG in expanding its portfolio of gyms across the UK and the use of data and analytics to improve the guest experience of its circa 30,000 members. It will also help put in a place a technology-led back-office infrastructure, to help the brand scale at speed. NRG has also strengthened its management team by hiring former JD Sports chief financial officer Neil Greenhalgh as a non-executive director. In nearly 20 years at JD Sports, Greenlagh played a central role in the brand opening its own gyms, leading the Xercise4Less acquisition process in 2020. “It’s a testament to the success of the business and will allow us to continue to grow our member communities and develop our pipeline of new sites, all while continually investing in the team, people development and infrastructure required to grow further,” Ahmed said. Henri Songeur, investment manager at Puma Growth Partners, added: “The strong management team and proven business model have positioned NRG as a formidable operator in a sector expected to be worth approximately £2.8bn in 2025, and the addition of Neil Greenhalgh further enhances the company’s capacity to establish itself as a leading provider of low-cost, high-value gym facilities.” NRG currently operates gyms in Gravesend, Lewisham, Manchester, Sheffield, Walsall and Watford, with Glasgow, Lakeside and Newcastle “coming soon”, according to its website.

Chef Phil Howard plans opening in London’s Marylebone for Notto concept: Michelin-starred London chef Phil Howard is set to open a further site under his pasta bar concept Notto, in London’s Marylebone, Propel understands. Howard – who is behind Elystan Street, Church Road, and Kitchen W8 – launched Notto in London’s Piccadilly in November 2022, having changed its name from Otto following a legal issue. The venture, with business partner Julian Dyer, of Pots & Co, was the first bricks-and-mortar site for the concept, having initially launched as an online delivery service in May 2021. In 2023, Howard opened a second Notto site at 4 Henrietta Street in Covent Garden. Last year, the business was linked with a site at 29-31 Old Brompton Road, in South Kensington, although that is yet to open. Propel now understands that Howard plans to open a Notto in the Loxton Walk development in Marylebone, which comes online later this year. The development will deliver 28,500 square-foot of retail and leisure space across 17 ground floor units, accessible via four new avenues from George Street, Blandford Street, Gloucester Place and Baker Street. The project will comprise a central open-air courtyard designed to create a “lively, vibrant new destination for residents, workers and visitors to Marylebone”.

 

Little Door & Co festive revenue tops £2.6m, considering regional opportunities for first time: House-party inspired late-night bar and restaurant concept, Little Door & Co, has reported a record-breaking Christmas, and told Propel that it is considering opportunities for openings outside London for the first time. The business, which was founded by Kamran Dehdashti and Jamie Hazeel, opened its fifth site in London last summer, The Violet Door at 9 Kingly Street – formerly music venue Bag O’ Nails frequented by the likes of Jimi Hendrix, Elton John, Paul McCartney and Pete Townshend. The venue was the group’s second Central London site, joining The Little Scarlet Door in Soho and neighbourhood locations The Little Yellow Door (Notting Hill), The Little Blue Door (Fulham) and The Little Orange Door (Clapham). Hazeel told Propel that across its estate the business generated revenue of £2.63m over the festive season, up 45% on the same period last year. He said: “Adjusted for the year's site opening, The Little Violet Door, we did £1.73m representing 6% growth. We are looking to open one to two new sites this year and are, for the first time, considering opportunities outside of London.” The company said last year that once The Violet Door opened, it would pass more than 150 employees and be on course to deliver a turnover of £12m for 2024.

Freehold of Brewhouse & Kitchen pub in Nottingham goes on the market for offers in excess of £1m: The freehold of a Brewhouse & Kitchen pub in Nottingham has gone on the market for offers in excess of £1m. Christie & Co is marketing the site on the A60 London Road, adjacent to the River Trent and Trent Bridge cricket ground. The Victorian building is spread across four open-plan areas and seats 180 people inside, with an additional function room on the first floor seating a further 150, plus a large outdoor riverside terrace licensed for more than 400. The pub has an “open theatre” brewing area, and there is scope to further develop the upper floors, including the two-bedroom owners’ apartment and the function space into letting bedrooms, subject to planning permission. Last summer, Brewhouse & Kitchen, the UK’s largest brewpub group, said it was engaged in a strategic review to establish the best way forward, and had completed a rights issue to raise funds for its next stage of growth. The 21-strong group reported a 0.9% decline in like-for-like sales for the year to 30 September 2023 and said 2024 was a “challenging” year.

Everards lodges plans for hotel: Leicestershire brewer and retailer Everards has lodged plans for a hotel as part of its flagship project. Everards is seeking reserved matters approval from Blaby District Council for a hotel with up to 120 rooms at Everards Meadows. The site has been envisioned as a “premier destination” where the history of Everards can be “experienced and celebrated” while providing the business with a dedicated site to accommodate its present day and future operations. Phase one of the development, including the new Everards headquarters, visitor centre and cycle centre, was completed in 2019. There are no meeting rooms or conference facilities proposed for external guests to the four-storey hotel, which represents phase 2a of the scheme, and hotel guests would be encouraged to make use of the existing on-site facilities. Phase 2b comprises an office campus, which was approved under the initial outline application, reports Insider Media.

New Forest Hotels sees revenue decrease as staycation boom recedes, losses more than double: New Forest Hotels said its revenue decreased in the year to 31 December 2023 as the staycation boom receded, while its losses more than doubled. The company operates five hotels, a country pub and shepherds’ hut accommodation in the New Forest National Park. Turnover dropped from £7,842,313 in 2022 to £7,124,778. Pre-tax losses widened from £744,349 the previous year to £1,853,571. Director Nizam Shammas said: “During 2023, the company's revenue decreased by 9% as the ‘staycation boom’ receded and the impact of high inflation and interest rates bore down on consumer activity. High levels of inflation also put pressure on the company’s margins, with gross profit margin decreasing from 47% to 42% and overheads increasing by 3.5%. The interest expense also increased by 36.8% from £447,349 to £612,036 due to additional financing obtained during the period. As a result, the loss after tax increased by 204.2% from £609,384 to £1,853,571.” As previously reported, the company appointed Rockingham Partners to manage the group during 2023 following a strategic review, as well as refinancing and securing additional funding. Post year end, a further £300,000 was secured from Fransabank, repayable in February 2028, and £450,000 from the Bank of Beirut, repayable in July 2026. In addition, the ultimate controlling party advanced loans totalling £1.53m to the company between January and June 2024. Government grants of £20,118 were received (2022: £24,000). No dividend was paid (2022: nil).

Tom Henry steps down as Simmons Bars CFO: Tom Henry has stepped down as chief financial of the 23-strong cocktail bar operator Simmons, which is backed by Lonsdale Capital Partners, to join Saville Assessment, which provides leading-edge psychometric assessments to assess and develop potential and performance in the workplace. Henry, who had been Simmons’ chief financial officer since April 2018, was previously strategic finance director at Casual Dining Group (now Big Table Group). He has become chief financial officer of Saville Assessment. Simmons made its regional debut last October when it opened in the former The Botanist site at 78 Deansgate, in Manchester. At the time, the company’s founder Nick Campbell told Propel that Manchester was a “fairly logical step” for the business as it looked to kickstart its regional expansion. “We had been looking at a few other places, but Manchester is a great city with a nice mix of operators and has a fantastic nightlife,” he said. “It’s buzzing and the site we’ve got ticks all the boxes. The plan is to build a cluster of sites in Manchester – we think we can have three or four – and we’ll look to grow across the north and Midlands – cities such as Liverpool, Leeds and Birmingham.”

Mowchi lines up Canterbury opening for fifth site: Bubble tea franchise Mowchi has lined up an opening in Canterbury, Kent, for its fifth site. Founded in 2022 by Afrikana brand and marketing director Syeda Kayanath, Mowchi opened its first store in Birmingham’s Ladypool Road, although that site has now closed. Mowchi launched its first franchise location, in Bradford, in 2023, which was followed by a site in Essex’s Lakeside shopping destination. Mowchi then launched two London locations last year – a 40-seater flagship at 450 Mile End Road and a store at 5 Market Street in East Ham. Mowchi is now expanding to Canterbury for its next opening, although an exact location as not yet been revealed. “We’re thrilled to announce that we’re bringing Mowchi to the beautiful city of Canterbury,” a company spokeswoman said. “This marks another exciting step in our journey to share exceptional coffee, unique drinks, and our minimalist aesthetic with even more communities. Canterbury, known for its charm and history, will soon be the perfect home for our latest cafe.” 

Fine-dining Greek restaurant to open in Birmingham's Colmore Business District: A fine-dining Greek restaurant is set to open in the heart of Birmingham's Colmore Business District. Located at Bruntwood SciTech's Cornwall Buildings in Newhall Street in the premises previously occupied by Mitchells & Butlers’ All Bar One brand, Cylla aims to blend authentic Greek cuisine with contemporary gastronomy. “Being of Greek origin, it was my passion to bring Greek culture and fine food to Birmingham,” said general manager Adonis Maniadakis. “Cylla will be one of its kind – a unique experience that combines the elegance of fine-dining with the warmth of Greek hospitality.” The venue, which looks to bring a “sophisticated approach to Mediterranean dining” and will launch in mid-March, will also offer cocktails incorporating traditional Greek spirits and fresh ingredients. Maniadakis added: “Cylla represents boldness, courage and adventure within Greek and Mediterranean fine dining. Our goal is to create not just a meal but a unique dining experience that transports our guests to the shores of the Greek islands while pushing the boundaries of culinary creativity.” The Cornwall Buildings are part of Bruntwood SciTech's tech and digital cluster in Birmingham, alongside Cornerblock, Centre City, Mclaren and Innovation Birmingham.

Argentinian chef to launch new South American concept in London this week: Argentinian chef Ricardo Younis Moreno will open his new South American concept, Alfonsina, in London’s Farringdon, on Thursday (23 January). He will open the restaurant at 50-52 Long Lane, offering Argentine, Brazilian, Mexican, and Peruvian flavours. Moreno, who most recently worked for Ricker Restaurants (La Bodega Negra and Stoke House) was previously at La Mar by Gaston Acurio in San Francisco. He said: “Alfonsina will offer a mix of Latin American cuisines with a fusion twist. I have worked and lived in many countries so I’m also strongly influenced by Mexico and Brazil, places where I also worked and lived for several years. It’s all about celebrating the diversity of Latin American flavours.” The launch will be attended by the ambassador of Argentina to the UK, Mariana Plaza, who will officially open the restaurant.