Burger King UK CEO – volumes are good, profitability an ongoing challenge: Alasdair Murdoch, chief executive of Burger King UK has told Propel that volumes in the business are “good” but “profitability is an ongoing challenge”. Murodch also said the brand, which operates 561 restaurants, 285 of which are directly owned, saw “strong like-for-like sales” during the last quarter. Murdoch said: “Profitability is an ongoing challenge due to costs, whether it is labour, national insurance contributions, long-term energy (versus 2019), strength of delivery and so forth – and we also pay a franchisee fee and an advertising fund that drags too. But we have generated strong sales momentum going into the new year, which is good news. We are looking to open 30 stores this year, which is great; a few closures, as ever, to keep freshening up the brand, and 40 remodels.” Murdoch said last year that the business is comfortable looking at opening somewhere between 25 and 35 sites a year, at a “fairly steady run rate”. Propel revealed in November that Burger King UK is to open its first site in Central London for more than a decade. The Bridgepoint-backed business has secured a 4,500 square-foot site at 60 The Strand, which will open in the second quarter of 2025. The restaurant will comprise more than 100 covers spread over two floors, ground and first. In a UK first for the brand, the site will feature a “family experience” area on the first floor with interactive tables. The initiative will also be launched in other new openings this year. The new site will also feature a kitchen in the basement and a travelator that will bring food to the ground floor kitchen for customers. Burger King features in the UK Food & Beverage Franchisor Database, the latest edition of which was sent to Premium Club members last month, featuring 50 new entries and now has a total of 330. 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.

 

Propel’s Top 500 report – 65 experiential leisure 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 is 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.

 

Next Who’s Who of UK Hospitality to be released today featuring 876 companies: The next Who’s Who of UK Hospitality will be released to Premium Club members today (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 and more than 237,000 words of content. 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, theTurnover & 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.

GSG co-founder – price rises are for survival, not profit: Matt Farrell, co-founder of north west operator GSG Hospitality, has said price rises being made by operators “are for survival, not profit”. Sector businesses are gearing up for the fresh challenges that will be brought by the increase in national minimum wage and the reduction in national insurance thresholds for employers from April, as announced in October’s Budget. “I think it’s really disheartening having to see operators and front-line staff having to deal with constantly justifying their pricing, dealing with complaints and reviews and taking the blame for something that has been forced upon them,” Farrell said. “Let’s be clear – price changes are for survival, not profit. It’s actually being a responsible business owner, trying to have a sustainable operation working to a workable gross profit, creating jobs and adapting to the new economic environment. Otherwise, they won’t be there. What do we want now and for our children? A world with quality locally sourced ingredients? Having quality hospitality experiences with humans? Thriving cultural city centres and suburbs with diverse operations? Do we want food culture to grow like many of our European counterparts? Companies must stick to their ethos and not have to comprise on quality. There is enough narrative online to understand the issues faced. Guests should write to their MP or (chancellor) Rachel Reeves, not the operator, and support their local independent businesses. They need you now more than ever.” GSG operates five Bold Street Coffee locations across Liverpool and Manchester, as well as Salt Dog Slims bars in both cities. It is also behind speakeasy cocktail bar 81, tequila bar El Bandito, Nordic-inspired all-day restaurant Nord, Caribbean cocktail bar Manolo and the Duke Street Food & Drink Market – all in Liverpool. The group also launched its first pub last October, having acquired The Hightown in Hightown, four months earlier. Last May, Nord was entered into the Michelin Guide, a year after opening, and Farrell later told Propel he was considering franchising the concept through private catering.

 

UKHospitality Scotland calls for Edinburgh visitor levy transition delay ahead of final vote: UKHospitality Scotland is urging City of Edinburgh Council to delay the start of a planned transition period for collecting visitor levy funds from May to at least October this year. The current proposals would implement a transition period from 1 May 2025 where businesses would have to collect levy funds for bookings made for 24 July 2026 onwards, which is when the scheme would come into force. Ahead of the council voting today (Friday, 24 January) on the proposed levy, UKHospitality Scotland warned that many businesses, and the booking partners they use, will not be ready to start collecting levy funds from May. Leon Thompson, executive director of UKHospitality Scotland, said: “A visitor levy in Edinburgh will bring huge changes to the city, its visitors and the accommodation businesses that have to administer and collect the levy. It will also impact the capital’s competitiveness as a destination for tourists. Accommodation businesses are undoubtedly going to face significant burdens and additional cost as they implement new systems to deal with the levy. In this final vote, I would urge the council to go one step further and delay the date at which businesses have to collect levy funds to at least October this year. Asking already stretched businesses to begin collecting funds in May, just three months’ time, when the scheme will only be finalised this week, just isn’t feasible for many.”

 

Job of the day: COREcruitment is working with a restaurant in London’s Mayfair that is seeking a head chef. A COREcruitment spokesperson said: “The role involves leading a team of 30 chefs and working directly on the pass with the executive chef. The head chef will play a key role in menu execution, food quality and maintaining high standards across the kitchen.” The salary for this part-time contracted role is up to £70,000. For more information, email olly@corecruitment.com.

 

Punch CEO – impact of the Budget has not dented our plans: Andy Spencer, chief executive of Punch Pubs, has told Propel that the impact of the Budget has not dented the plans of the business. Spencer, who took over at the helm of the Fortress-backed circa 1,350-strong Punch Pubs in September, also said that the company’s ambition is “to be the five-star pub company in the UK”, with its leased and tenanted operation the “cornerstone of what we do”.  He said: “We’re not waiting. We’ve done the maths, and we know the impacts. We’re on site today, investing in businesses, converting pubs. We’re active in the market, so we’re not slowing down, we’re speeding up. We know how we need to help support our publicans and our management partners. Our ambition is to be the five-star pub company in the UK. There are clearly some further headwinds coming our way, and as a sector, we do need to push our new government to follow through on their promise of meaningful and permanent business rates reform. However, we think we're well placed to navigate any challenges and are excited to grow the business. We had a good Christmas, the teams did a great job.” In this week’s Propel Premium Opinion, which will be sent to Premium Club members today (Friday, 24 January) at 5pm, Spencer talks to Propel group editor Mark Wingett about stepping up to lead Punch, the strategies for both its leased and tenanted and managed partnership businesses, the learnings it is taking from Laine Pub Co, its acquisition plans, and why the role of the pub in the community is more important than ever when it comes to connecting people.

 

Crepeaffaire acquired out of administration for £149,000: Crepeaffaire, the crêpes concept, was acquired out of administration earlier this month, as part of a pre-pack process, for a total consideration of £149,000, Propel has learned. Last week, Propel revealed the future of Crepeaffaire had been secured after it was acquired by two new vehicles – Crepe Union and Crepe Trading, led by its founder, Daniel Spinath, and chief executive, Allen Kerslake. The deal ensured the development and expansion of the brand in the UK and internationally across a variety of existing and new distribution channels. In the UK, Crepe Trading has seven sites plus two in the pipeline, while Crepe Union has two franchise sites plus one in the pipeline. Internationally, Crepe Union has 17 franchise sites across the GCC and Netherlands, and a US launch is planned for the second quarter of this year. The majority of the UK equity stores, owned and operated under Crepe Trading, will become a franchisee of Crepe Union, while the existing UK and international franchise business will continue in its current form under Crepe Union. The combined businesses are understood to have a pipeline of new initiatives in place, including UK expansion and the brand’s planned launch in the US. Sites in Chester and Westfield London have closed. The Business Growth Fund invested £2m in Crepeaffaire in 2018. Of the total sale consideration of £149,000, £125,000 has been received to date, and the remaining £24,000 will be paid at a rate of £2,000 per month for 12 months. A licence to occupy has been granted to the purchaser to occupy sites in Brighton, Bromley, Cambridge, Islington, Leeds, Newcastle and St Albans. Explaining the lead up to the administration, administrators Quantuma stated: “The covid-19 pandemic, on top of the inflation and interest rate hikes, led to the companies trading results being severely below pre-covid levels. This led to the amount owed to long-term creditors rising to around £3m, which the companies were unable to clear without significant concessions or outside investment. In a bid to get more working capital into the companies, the directors took out a loan under the Coronavirus Business Interruption Loan Scheme in August 2020 of £720,000. It is anticipated that during the current financial year that the companies would incur a significant loss, with projections for 2025 also set to be loss-making.”

 

The Athenian passes 100-location mark as it scales rapidly through dark kitchen openings, set to add a further 100 this year: Greek street food restaurant group The Athenian has told Propel it has passed the 100-location mark as it scales rapidly through dark kitchen openings, and is set to add a further 100 this year. The Athenian, founded in 2014 by Tim Vasilakis, signed an agreement in 2023 with multi-brand kitchen business Growth Kitchen, and by last summer had opened 70 locations with its partner, taking its UK estate to 80 – including six physical locations – which it operates alongside several international sites in Spain and the Middle East. This growth has continued into 2025 to include 77 franchise locations in the UK, plus more overseas. “We have 100 sites in UK and Spain in total,” a company spokesperson told Propel. “There will be around 100 new openings this year across the UK. All new locations are franchise locations.” Vasilakis added: “Our Athenian Owl is soaring higher than ever, reaching more people with our authentic taste of Greece. We’re immensely proud of how far we’ve come in such a short time. In 2025, we plan to pilot two entirely new, non-gyros dishes, alongside two innovative sauces, offering new and exciting flavours to the menu in the coming quarter. The Athenian’s mission has always been to redefine perceptions of Greek cuisine, moving beyond outdated stereotypes to showcase the diversity and depth of Hellenic culinary culture. Every dish is created using fresh, authentic ingredients sourced from Greece and local producers.”

 

Turtle Bay to launch ‘elevated dining concept’: Turtle Bay, the Caribbean restaurant brand backed by Piper, is to launch a new “elevated dining concept”. The circa 50-strong company said that the enhanced concept will combine a “warm and welcoming venue design” as well as a new menu, featuring refined Caribbean-inspired dishes, all while still “honouring the roots of being a joyful and carefree place to connect with people”. The concept will launch at its restaurant in Chelmsford, Essex, with the site shut until March, as it undergoes an “inspired transformation that will see the restaurant elevated entirely from its current standing”. Turtle Bay said the closure of the site, which opened in 2016, marks the beginning of an “exciting chapter in the restaurant's journey”. The company said: “Turtle Bay remains committed to celebrating Caribbean culture and flavours, and the new concept will push the boundaries of this mission while maintaining the spirit of the islands. The full changes are yet to be disclosed, but guests can expect a spectacular reveal in March, offering a twist on the group's signature Caribbean offerings.” Nick Crossley, chief executive of Turtle Bay, said: “This new concept represents an exciting opportunity to offer something new to the city and beyond. Chelmsford remains one of our most popular and successful restaurants to date, which is a key reason we chose this location for our new concept.”

 

Crazy Bear Group acquired out of administration for £6.5m: Hotel and leisure group Crazy Bear was acquired out of administration earlier this month for a total consideration of £6.5m, Propel has learned. Crazy Bear, which has two hotels with in-house restaurants in Stadhampton, Oxfordshire, and in Beaconsfield, Buckinghamshire, announced it had been acquired in a transaction that secures “long-term capital to fuel the group’s ambitious growth plans”. The business was acquired via a pre-pack administration by a new vehicle led by executive director Richard Booth and managing director Tom Etridge. Booth has a circa 40% stake in the new vehicle. British fine dining restaurant Oak is planned for its Stadhampton site early this year, followed by a chef’s table experience led by chef Carlo Scotto. Administrators Grant Thornton received three written offers and one verbal offer for Crazy Bear. The administrators stated: “The insolvency of the company can be attributed to cash flow management issues including entering into onerous contracts, significant discounts being offered through third-party voucher providers and aggressive pricing despite both hotels being deprived of investment in the business. These factors led to a consumer expectation gap in terms of both pricing and customer service due to the cash flow issues, the company's inability to service the secured lender's debt, and general economic conditions such as interest rates and the costs of living were also a factor in the decline in demand and increase in costs resulting in a reduction in profitability.”

 

Coqfighter partners with Growth Kitchen for 100-plus new delivery locations within 18 months as it eyes nationwide expansion: Chicken and beer concept Coqfighter has partnered with Growth Kitchen to launch 100-plus new delivery locations within 18 months. Coqfighter said having launched new sites in Brighton and London’s Finsbury Park in 2024, it is now entering an “exciting new phase of growth” and is “eyeing nationwide delivery expansion” in 2025. Growth Kitchen scales its partner brands nationwide through its network of host kitchens, which cook Growth Kitchen brands on top of their own and distribute them on food delivery apps such as Deliveroo, Uber Eats and Just Eat. Coqfigther, which has five physical locations across London and Brighton, has already got its delivery expansion off to a flier by launching in 20 locations within recent weeks. The company said the partnership will enable it to reach millions of new customers across the UK, boosting brand awareness and potential for further bricks-and-mortar expansion. “This partnership with Growth Kitchen is a true growth accelerator and will enable us to accelerate expansion of bricks-and-mortar sites along with delivery” said Coqfighter co-founder Tristan Clough. Growth Kitchen co-founder Tom Gatz added: “We’re excited to bring Coqfighter to millions more across the UK, accelerating our journey to bring the best restaurant brands to everyone’s doorstep.” Originally from Melbourne in Australia, Clough, along with Troy Sawyer and Deacon Rose, launched Coqfighter in 2015 as a pop-up in The Star By Hackney Downsin London.

 

We Do Play to launch four new UK Activate locations by June with London’s Oxford Street next up: We Do Play, the Flip Out and Putt Putt Noodle operator, has said it plans to open four more locations for Activate – the Canadian experiential brand it debuted in the UK last month – by June, with London’s Oxford Street up next. We Do Play co-owner Richard Beese also said Activate’s first UK site has been a huge success since it launched at The O2 in mid-December. Activate, which also has 32 locations across Canada and the US, features 12 real-time interactive game rooms, which promise a “high-energy, adrenaline-fuelled adventure suitable for all ages”. Since its launch last month, the London site has welcomed thousands of visitors and is scoring five out of five on all of its TripAdvisor reviews. Beese said four new UK locations to launch in by June have already been chosen, “with many more to follow as part of an accelerated ramp-up of expansion plans throughout 2025”. He said: “The launch of Activate at The O2 has been a huge success. We knew it was going to be popular, but we have been overwhelmed by its success in only the first month since it opened. The feedback from customers has been incredible. As a company, We Do Play has been leading the way in the world of competitive socialising for many years, and we have been keen to maintain our position as a pioneer of competitive socialising and entertainment. Oxford Street is going to be our next location. This Central London location will be incredible. Our rollout of Activate across the UK is going to be huge. We want to bring this incredible experience to as many places as possible in the country. 2025 is going to be a big year for Activate.” In October, Beese told Propel that We Do Play is investing in a multimillion-pound roll out that will see 30 UK sites built in 42 months, and that it is talking to landlords in cities such as Bristol, Leeds, Glasgow, Liverpool, Manchester and several more London locations.

 

Pho opens first regional suburb site: Pho, the Vietnamese restaurant group led by Pat Marrinan and backed by TriSpan, has opened its first regional suburb site, in Harborne, Birmingham. The 45-strong company has opened in the former Raja Monkey at 42-44 High Street. Pho already operates a site in the city, at the Grand Central shopping centre. Talking to Propel last year, Marrinan said: “We've had another strong year in terms of trading performance and new openings, both in London and regionally. We’re excited about the next three sites, in particular Harborne, which as a regional suburb, will be another first for the company and lay the foundations for more suburbs around the UK in the coming years.” The business is set to open in the former YO! site in Newcastle’s Grainger Street later this quarter.

 

Sainsbury’s to close remaining in-store cafes: Sainsbury’s will cut more than 3,000 jobs and plans to close its remaining in-store cafes as part of a major restructure. Sainsbury’s said it will shut its remaining 61 in-store cafes as part of a major overhaul. The closures are part of plans by the UK’s largest supermarket group to save £1bn over three years. The retailer said the majority of its shoppers do not use the cafes regularly, whereas in-store food halls and concessions have grown in popularity. It comes almost three years after it shut 200 in-store cafes amid waning demand from shoppers. Simon Roberts, Sainsbury’s chief executive, said: “As we accelerate into year two and beyond of our strategy, we are facing into a particularly challenging cost environment that means we have had to make tough choices about where we can afford to invest and where we need to do things differently to make our business more efficient and effective. The decisions we are announcing are essential to ensure we continue to drive forward our momentum but have also meant some difficult choices impacting our dedicated colleagues in a number of parts of our business. We’ll be doing everything we can to support anyone impacted.”

 

EasyHotel secures £24,5m loan to support Spanish expansion: EasyHotel has further strengthened its financial position by securing a £24.5m loan from Spanish bank, CaixaBank, to support its continued expansion into the Spanish market. The funding will be used to support EasyHotel's development of four new properties in Spain, beginning with Madrid, which is set to open this spring, followed by Valencia and Barcelona later in 2025, and Alicante in 2026. Together, these hotels will add 361 rooms to EasyHotel’s owned and leased property network. The loan from CaixaBank follows a £42.5m loan secured from Santander UK to support its European expansion, alongside an additional £6m loan from Bred Banque for the opening of a 111-room hotel in Marseille. Karim Malak, chief executive of EasyHotel, said: “We’re seeing huge demand for affordable hotels in Spain, and we are thrilled to be working with CaixaBank to help fuel our expansion across this key market. This financial backing adds to the refinancing we announced last year and demonstrates the strong support for our EasyHotel proposition as we grow our owned and leased network. With a positive outlook, a robust development pipeline and franchise opportunities for hoteliers, we’re looking forward to welcoming more guests to EasyHotel than ever before across Spain.”

 

SSP launches new all-day dining concept at Liverpool John Lennon airport, exploring future roll out: SSP Group, the UK operator of food and beverage outlets in travel locations worldwide, has launched a new all-day dining concept at Liverpool John Lennon airport. Monty’s is the company’s first own brand casual dining offer in the UK, providing an American-style diner with a signature menu that includes classic cooked breakfasts, filled breakfast bagels and loaded waffles. The rest-of-day menu includes smashed patty burgers, hot dogs and wings as well as shakes. The 190-seat outlet is a key component of the airport’s multimillion-pound improvements, which includes a new expanded premium lounge that will be twice the size of the existing facility. “After extensive consumer research, we identified an opportunity for a casual all-day diner, and from here, the concept of Monty’s was born,” said Kari Daniels, chief executive of SSP UK & Ireland. “With a high volume of leisure travellers, our partner Liverpool John Lennon airport was the perfect location to launch Monty’s. We’re now exploring opportunities to open Monty’s at more UK travel hubs and look forward to seeing these come to life soon.”

 

Signature Group launches new digital loyalty scheme: Signature Group, the 23-strong Scottish hospitality business, has launched a new digital loyalty scheme. The group has partnered with Edinburgh hospitality tech start-up Stampede to develop the bespoke technology and cut 25% off food and drink bills at 22 of its restaurants and bars (excluding Kyloe Gourmet Steak Restaurant in Edinburgh) until Thursday, 30 January. The new “Crave” initiative will also offer a range of exclusive discounts at Signature venues. More than 4,500 people have already signed up and the group hopes to reach 10,000 members by the end of 2025. Paul Kerr, Signature Group’s digital marketing manager, said: “January is usually a quieter time of year for the hospitality sector, so we wanted to do something to kick start the new year, help people save money and beat the winter blues. Technology became a necessity to visit hospitality venues during the pandemic, but we now see that in the long term, we can harness its many advantages – in tandem with interactions with staff, which remains key. Crave is a great example of how we’re really embracing technology to enhance the customer experience. In 2025, we aim to be digital first in everything we do. Signature, like all players in our sector, is seeing its margins squeezed on many sides, and we see that Crave can really help us effectively manage demand across our portfolio and encourage our customers to visit more of our venues – while giving back and helping them save money.” Crave is free to join and can be downloaded and saved to mobile digital wallets. Last month, Signature Group founder Nic Wood told Propel the group is considering expanding into England and has the structure in place for another four or five openings. He also called the Scottish government’s December Budget “a serious setback for the business”, which would see profitability “remain just a dream” without a commitment to aid the industry.

 

Harrison Leisure acquires tenth site for Scottish debut as part of ‘ambitious growth plans’: Holiday park operator Harrison Leisure has acquired its tenth site, and first in Scotland, as part of its “ambitious growth plans”. The company has added Crofthead Holiday Park in Ayrshire to its portfolio, for an undisclosed sum, in a deal arranged by commercial real estate business Colliers. Crofthead, which had been in the same family ownership since the early 2000s, features approximately 85 acres with 50 luxury lodges, 25 touring pitches and 650 holiday homes. In addition, development has begun for further pitches, with planning consent for an additional 150 units being recently granted. Harrison Leisure director William Harrison said: “We feel privileged to have the chance to acquire this fantastic park. We look forward to continuing the same family run feel and high standards that the sellers have maintained for last 20 years. We’ll also be investing into the park and introducing some of the elements that Harrison Holidays is renowned for.” Gordon McCormack, who purchased the park in 2001, added: “While selling the park wasn’t in our immediate thoughts, once it became an option, it was very important that we were able to ensure our family park was sold to an operator with the same ethos for customer care.” 

North east bar and hotel group reports large cash balance despite drop in turnover and profit, will be partly used to fund future projects: North east bar and hotel group Ramside Estates has reported a large cash balance despite a drop in turnover and profit in the year to 30 November 2023, which it said will be partly used to fund future projects. The company’s turnover fell slightly from £35,906,916 in 2022 to £35,634,220 while pre-tax profit was halved from £4,424,492 to £2,238,355. No dividend was paid (2022: nil). “The reason for the reduced profit was significant increases in costs (mainly the increase in the general cost of living) incurred by the business,” director John Adamson said. “Examples include wages and salaries increased by £0.6m as a result of growing the workforce from 630 to 676 employees, coupled with the increase in national minimum wage during the year. Repairs of the company grew by £0.4m as we continue to invest in the upkeep of our properties (higher this year due to the increasing cost of materials and labour). Utility costs saw a large increase as the company's fixed rate deals for gas and electricity ended and the company was subject to the inflated market prices at the time. Despite these significant increases, the business has been able to maintain a large cash balance of more than £13m. A substantial portion of this cash balance is earmarked for future development projects that form part of the businesses longer term future strategic plans. The directors have identified key areas in which it would like to develop the business such as a major expansion of Hardwick Hall and Ramside Hall hotels. Part of this cash balance will be used to help fund these projects alongside support from the bank.” Projects completed in 2023 included an additional property called The Funky Monk, which is a range of specially designed serviced apartments in the heart of Durham city centre for a total investment of £1m. As well as Hardwick Hall in Sedgefield and Ramside Hall in Durham, the group’s portfolio includes Bar Beyond and Colonel Porter’s Emporium in Newcastle and Bowburn Hall Hotel in Durham.

 

Miles Chesterman promoted to MD of Hogs Back Brewery: Surrey brewery Hogs Back has promoted Miles Chesterman to managing director. Chesterman, formerly of Molson Coors and Anheuser-Busch, joined Hogs Back as head brewer in September 2012 and became deputy managing director in November 2013. Hogs Back chairman Rupert Thompson said: “Miles will take over all day-to-day operations from me. I will remain very active in the business as executive chairman, directing strategy, supporting Miles and taking on some additional new projects. Miles was my first appointment when I bought the business 12 years ago and he has been a great support to me throughout the years. It is a huge pleasure to pass on the operational baton to him and I have great confidence he will enhance the business further. Despite the small brewing sector facing multiple threats at present, we do see some exciting opportunities for Hogs Back. We have good, match-fit brands, good people, a strong and growing retail base, a supporting property business with multiple complementary tenants and a large and loyal following in the south east of England, which is likely to have more resilient consumer expenditure over the next few years.”

 

Tom Kerridge to launch The Beast Club to spotlight often-overlooked cuts of meat: Tom Kerridge is launching The Beast Club at his Butcher’s Tap and Grill in London’s Chelsea, exploring the more unusual and often-overlooked cuts of meat and the British farms they come from. Launching on Saturday, 1 February, the club will see a different “beast” selected each month, starting with Aberdeen-Cross beef from the Raynham Estate in Suffolk. Kerridge and his chefs have hand-selected five different cuts of beef. As the year progresses, The Beast Club will evolve, with a selection of pork-focused specials taking over the “beast board” in March, while April will explore the different ways lamb can be used. Kerridge said: “The launch of The Beast Club allows us to explore different cuts of beef and get creative with what we can do with them. This is an opportunity to bring more unusual, lesser-known cuts into the spotlight, and in doing so, we get to shine a light on the incredible farmers and suppliers we work with.”

 

London brioche sandwich concept Crunch to open first bricks-and-mortar site: London brioche sandwich concept Crunch is to open its first bricks-and-mortar site. Having run pop-ups and a stall at Spitalfields Market, Crunch is opening a site in Soho next month. The team comprises former college friends Alexandre Yonan and Michael Medovnikov, and chef Joni Francisco, who trained under Alexis Gauthier at Gauthier Soho and Nuno Mendes at Chiltern Firehouse before becoming executive chef for the Experimental Group. Crunch will open in the former Maitre Choux premises in Dean Street next month. As well as takeaway, there will be room to seat 16 diners. Baked fresh each morning, the brioche sandwich menu will include the Patty Melt (truffle beef patties, Red Leicester cheese, crispy onion marmalade and black truffle mayonnaise) and Donald’s Duck Sandwich (slow-cooked Gressingham duck leg, banana shallots, crispy onions and smoked apple sauce). There will also be a new version of its steak sandwich and deep-fried sides such as thousand-layer potatoes and pepperoni lasagna bites. Cocktails and beer will also be on offer. Leo Marmion, of onepoint2, acted on the deal.         

 

London’s ExCel to launch immersive Tutankhamun exhibition this spring: London’s ExCel will launch an immersive Tutankhamun exhibition this spring in which guests can learn more about ancient Egypt and the myths and mysteries surrounding the legendary pharaoh. Hi-tech experience Tutankhamun: The Immersive Exhibition will open at Immerse LDN, on the Excel London Waterfront, on Friday, 28 March. Following successful runs in 12 other cities around the world, the experience will run until Sunday, 29 June before leaving the UK to go on a wider European tour. Created in collaboration with Egyptologists and historians, the exhibition will be set over a 26,909 square-foot space and feature one of Europe’s largest immersive video mapping rooms, with eight-metre-high projections. It will feature six different galleries, including a 30-minute immersive movie showing the moment the tomb is discovered, described by the real voice of archaeologist Howard Carter. There will also be an interactive digital metaverse walk-through of the Valley of the Kings, exploring Carter’s 1922 basecamp, plus a soundtrack composed specifically for the experience. Adult tickets will be priced from £20, with children from £15.50, while schools can apply for a special group booking rate.