Tue 4th Feb 2025 - Nightcap acquires Brighton’s i360 Tower Nightcap acquires Brighton’s i360 Tower: Nightcap – owner of the Cocktail Club, the Adventure Bar Group, Dirty Martini and the Barrio Familia group of 45 bars – has acquired Brighton’s i360 Tower, which closed last December, out of administration. The acquisition follows a decision by Brighton & Hove City Council to release the debt in support of the landmark’s future under Nightcap’s management. Nightcap said the acquisition “represents a significant step forward” in the company’s “continued mission to create industry leading social experiences and elevate hospitality across the UK”. Under the new agreement, Nightcap takes over the remaining 115-year lease of the i360, which features one of the world’s tallest moving observation towers. The i360, which has attracted 250,000 annual visitors, has more than 20,000 square-foot of hospitality trading space including multiple bars, events spaces, cafes and entertainment areas. In addition, it has 75 metres of beach frontage, a beach bar, terrace, rooftop and beach operating space. The acquisition has been completed free of debt and any historic liabilities, allowing a fresh start for the venue post-Nightcap’s significant capital investment. Last December, Steve Absolom and Will Wright, of Interpath, were appointed joint administrators to Brighton i360, which owned and operated the i360 observation tower. Brighton i360 had significant legacy liabilities dating to the time of its construction. Trading revenues over recent years were insufficient to fund both the attraction’s operating costs and the debt repayments as they fell due. The company had built up significant debt, including £51m owed to the city council. Nightcap said the addition of the i360 tower underscores its “dedication to inject fresh energy into iconic venues”. Sarah Willingham, founder and chief executive of Nightcap, said: “We couldn’t be happier to welcome the i360 to the Nightcap family and we are delighted that Brighton & Hove City Council has paved the way for us to keep this iconic landmark open. We look forward to working with it to make the West Pier part of Brighton a thriving hub for residents and visitors alike. After a successful and record-breaking Christmas trading period, we are delighted to start the new year by adding such a fantastic venue to the group. As we continue to grow, our priority remains creating memorable venues where people want to come together, have fun, laugh, celebrate and make lasting memories.” Cllr Jacob Taylor, deputy leader of Brighton and Hove City Council, said: “We are delighted that Nightcap has taken such a keen interest in revitalising the i360, and its passion and commitment to the city is evident. We think this is the best option for the city – giving a fresh start for the attraction, and helping to ensure this important stretch of seafront can thrive.” Charlie Carter, of Interpath, who led the transaction on behalf of the administrators for Brighton i360, said: “We’re delighted to have secured this transaction, which will see this iconic attraction brought back into operation, providing opportunities for job creation and investment in the West Pier area. We wish the team at Nightcap all the very best for the future.” Nightcap features in the Propel 500 report, an unparalleled resource that profiles the UK’s leading hospitality operators ranked by turnover – which is available now. 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. A list of the operators included can be discovered now by visiting the Propel 500 page on Propel’s website. 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 quick service restaurants. 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.