Exclusive – Paul Moran to become Gusto Italian CEO: Paul Moran will succeed Matt Snell as chief executive of Gusto Italian, the Palatine and Beechbrook-backed, premium Italian restaurant and bar group, Propel has learned. Snell, who has served as the 13-strong company’s chief executive for the past seven years, is stepping down from the role but will remain as advisor to his successor, which the business said will ensure “a seamless transition”. Moran, who was group managing director at Living Ventures for 25 years, will succeed Snell immediately. Snell, formerly of Red’s True Barbecue, Fuller’s and Spirit Pub Company, said: “It has been the highlight of my career to date and an absolute privilege to lead this fantastic business over the last seven years. To be given the opportunity by [chair] Jeremy [Roberts] and the board to build this business around a shared vision has been something I will treasure forever. I would like to thank Jeremy, Gary Tipper and Kieran Lawton for their unwavering support through what has been hospitality’s toughest few years.” Roberts said: “This change in leadership has been carefully planned. I am looking forward to seeing how Paul and the rest of the Gusto team will build on the stellar work Matt and his leadership team have done. To that end, I would like to place on record our sincere thanks to Matt, who has led this business through the toughest period in our industry's history with vision and assurance.” Moran said: “It is a privilege to be involved in a business with which I have such familiarity and fondness. Tim [Bacon] and Jeremy founded Gusto 20 years ago, and returning now to lead the company is an opportunity I am genuinely excited about.” The company, which is working on its funding options with advisors Tamweel, said the leadership transition comes at a pivotal time for the business as it continues to “build on its legacy of delivering premium dining experiences”. Later this month, Gusto’s former chief operating officer Scott Grimbleby will take up the same role at Turtle Bay, the Caribbean restaurant brand backed by Piper. 

 

Sponsored message – boost sales, footfall and ROI with Bombe.io’s cutting-edge AI app for hospitality: In today’s competitive hospitality industry, operators need an audience insight and data targeting tool that has consumer targeting for every postcode, brand, venue, bus stop and train station in the UK. They can have that – with Bombe.io. A spokesperson said: “We tell you what types of people use your business, why they buy from you, whether you are under or over financially performing in particular outlets and whether your advertising drove revenue. For example, taking your sales and marketing data, within 48 hours, we can tell whether BrewDog in Canary Wharf is selling as much Punk IPA as it should be, compared with the buying behaviour of the local area. We could tell you that people travelling from certain stations on certain lines are a key target for driving growth and the exact postcodes people who might travel to BrewDog live in. We can produce this data for every outlet you sell in. Our results so far speak for themselves – £120,000 missing revenue found and 185% increased digital advert engagement. Join leading hospitality businesses like Camden Market already leveraging artificial intelligence (AI) to stay ahead of the curve. Let Bombe.io’s large language model turn data into revenue and footfall into loyal customers. Get in touch today for a free AI analysis of your customers using our app by clicking here.” If you have a sponsored story you would like to see featured in this newsletter position, email paul.charity@propelinfo.com.

 

Next Who’s Who of UK Hospitality to feature 85 updated entries and 16 new companies, released on Friday: The next Who’s Who of UK Hospitality will feature 85 updated entries and 16 new companies when it is released to Premium Club members on Friday (21 February), at midday. The database now features 891 companies, and this month’s edition includes more than 238,000 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, 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 and International Brands report. 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.

 

Restaurants staring into the abyss as chancellor’s £25bn tax raid looms: Andrea Rasca, chief executive of Mercato Metropolitano, has warned of a flood of hospitality closures if the government presses ahead with its tax raid. Sector businesses await the chancellor’s £25bn raid on employers’ national insurance contributions and another rise in the national minimum wage, both of which come into force in April. “Why is [the government] behaving like this?” Rasca told The Telegraph. “Does it want businesses to close and to have only McDonald’s and KFC? That’s what I’m wondering.” Dominic Chapman, who owns both The Crown Burchetts Green and Restaurant Dominic Chapman in Henley, Oxfordshire, said: “It’s a particular worry. It’s a case of battening down the hatches to make sure we’re lean and not carrying too much unneeded personnel. We’re being very careful. At the end of the day, prices will have to go up if all these [taxes] kick in. It’s a bit of a fine balance between offering good value but making sure you’re charging enough to keep the business afloat, and also not carrying too many members of staff if you’re not busy enough.” Paul Pavli, hospitality consultant and non-executive director at restaurant and pub group Yummy Collection, said he is still hiring but is seeking quality instead of quantity. “The rationale is, on a busy Friday night, in some of our restaurants, rather than having seven staff front-of-house, we will just have six, but those six will be better calibre,” he said. “We think it’s a 10% increase in labour costs for an individual. We did some rough calculations based on somebody working 40 hours a week, and we reckon it’s going to cost us £2,500 a year more for that person. That’s a big chunk you’ve got to find, and if you’ve got ten of those people in the business, that’s a lot of money.” Pay in hospitality and retail in the final quarter of 2024 was up 6.6% on the year, in part because of last April’s near-10% jump in the minimum wage. The Institute for Fiscal Studies estimates that employing a full-time worker on the minimum wage will cost employers more than £24,000 per year from April.

 

Job of the day: COREcruitment is working with a UK soft drinks brand that is seeking a national account manager to join the team to lead the account management with multiple large-scale foodservice businesses and wholesalers. A COREcruitment spokesperson said: “The position will be instrumental in delivering business growth with existing accounts and optimising on sales strategies. The ideal national account manager will have a passion for the drinks industry and have experience managing multiple wholesale partnerships.” The salary is up to £60,000 and the position is based in Birmingham. For more information, email mark@corecruitment.com. 

 

Former Subway UK & Ireland MD joins KellyDeli as COO: Former Subway UK & Ireland managing director Nigel Doughty has joined KellyDeli as its new chief financial officer. At KellyDeli, he will be responsible for 1,500-plus locations across 12 markets in the UK, Europe, Asia, and Latin America, partnering with retailers such as Waitrose, Asda and Tesco. Doughty has spent the past six months as a board advisor, advising private equity firms and investors in franchise, quick service restaurant and multi-unit business growth strategies. Before this, he spent almost four years with Subway, where he led the strategy and vision for circa 2,500 restaurants in the UK and Ireland. He led the strategic turnaround and transformation of the brand’s market here – driving brand growth, franchisee success and operational excellence across a vast portfolio of restaurants. He also spearheaded the largest menu and service model change in the brand’s history and oversaw restaurant expansion, remodelling programmes and key organisational restructuring. Before this, Doughty spent ten years in various roles with Kuwait-based Alshaya Group, including vice-president of its food retail division – premium casual brands. Doughty also spent four years, between 2006-2010, as managing director of Paul UK, and two years, from 1998-2000, as regional operations manager for Costa Coffee.

 

Costa to give 5% pay rise to its baristas: Costa Coffee, the Coca-Cola Company-owned brand, will increase pay rates from 1 April for more than 15,000 team members across its 1,500 UK company-owned stores. This £8m investment raises the starting national pay rate for its baristas to £12.60 per hour, from £12 per hour. The company said it was part of its efforts to ensure team members continue to receive a sustainable pay rate that factors in the cost of living. Barista maestros, who are team leaders and coffee trainers, will see their hourly pay increase by an average of almost 5%, to at least £12.93, from £12.33. Those who complete role-specific training will then see their hourly rate boosted by a further 50p to £13.43. Team members in Central London will receive an extra £1 per hour than the national rate, bringing the starting rate to £13.60 per hour for baristas, £13.93 per hour for new barista maestros, or £14.43 once role-specific training has been completed. Costa Coffee does not operate age-bandings, so all 15,000 hourly-paid UK-based team members in company-owned stores will receive a pay uplift. Targeted bonuses are also offered to high performing store teams. Costa Coffee’s UK & Ireland managing director, Nick Orrin, said: “At Costa Coffee, our expert baristas and dedicated store teams are the driving force behind everything we do. This latest pay increase reflects our ongoing commitment to investing in and supporting our people. We are proud to recognise the passion, talent, and hard work they bring to their roles every day, ensuring exceptional experiences for our customers.” Following a visit to a Costa Coffee store, chancellor Rachel Reeves said: “It was fantastic to hear from staff on the difference their pay rise will make. Hard work should be rewarded, which is why from April, our increase to the national living wage will make three million people £1,400 a year better off. This is part of our ‘Plan for Change’ to kickstart economic growth so working people have more money in their pockets.”

 

Gong Cha hires former KFC UK & Ireland CFO as its new global CFO: Gong Cha, the fast-growing bubble tea brand headquartered in the UK, has hired former KFC UK & Ireland chief financial officer Matthew McCormick as its new global chief financial officer, effective from March. McCormick spent six years with KFC in a variety of roles, which also included chief development officer and interim chief technology officer, and during his tenure, helped double the pace of new UK restaurant openings and implemented measures that significantly improved profitability and unit economics. Gong Cha said McCormick, who represented New Zealand in five windsurfing world championships between 2001 and 2005, brings an impressive track record of driving revenue growth, leading successful acquisitions and growing margins. At Gong Cha, he will work with global chief executive Paul Reynish to unlock long-term, sustainable growth opportunities, as the group looks to scale up to 10,000 stores by 2032. Reynish said: “Matthew’s unique blend of financial expertise and franchise know-how is exactly what we need to take Gong Cha to the next level. I can't wait to see the fresh ideas and energy he'll bring to our global expansion efforts.” McCormick added: “Over recent years, I’ve been watching Gong Cha’s fantastic growth journey and believe it has all the elements to push on and become the clear market leader and a household name. I look forward to playing a role in the next phase of its development.” Gong Cha currently operates more than 2,100 stores globally, including 15 in the UK. Last month, the brand made its Northern Ireland debut with a launch at 66-68 Botanic Avenue in Belfast. The company’s growth plans include an eventual estate of 500 UK locations.

 

Dave’s Hot Chicken exploring potential sale: Dave’s Hot Chicken, the fast-growing US quick service restaurant brand which made its debut in the UK in December, is exploring a potential sale that could value the business at around $1bn (£790m), including debt. Reuters reported that the fried-chicken brand, which currently operates more than 250 locations globally, is working with investment bank North Point on a sale process. Dave’s Hot Chicken is attracting interest from private equity firms. The company, which is majority owned by its founders Dave Kopushyan, Arman Oganesyan, Tommy Rubenyan and Gary Rubenyan, brought rapper Drake in as an investor in 2021 and has received backing from other big names such as actor Samuel L Jackson. In 2017, Kopushyan and the other founders scraped together $900 and launched the company in an east Hollywood parking lot. In 2019, Dave’s Hot Chicken brought in Bill Phelps, who co-founded restaurant brand Wetzel’s Pretzels, as its chief executive. Dave’s Hot Chicken has a franchised business model, having sold the rights to more than 1,000 franchise locations in the US, the Middle East and Canada, according to the company. Propel revealed last July that the US brand had signed a franchise agreement with Azzurri Group to open 60 locations across the UK and Ireland. The Steve Holmes-led business opened in the former Fratelli La Bufala site in London’s Shaftesbury Avenue for the UK debut of Dave’s Hot Chicken, and is believed to be close to securing sites two and three. Dave’s Hot Chicken and North Point did not respond to requests for comment. Dave’s Hot Chicken features in Propel’s highly anticipated International Brands report, featuring the 100 leading international brands in UK hospitality, which launches this March and is available to pre-order now. This in-depth report explores company histories, leadership structures, site numbers and turnover figures – an essential tool for industry professionals navigating the UK hospitality market. The top 100 will include expanding brands from markets such as the US, Canada, Europe, Australia and Asia. The guide will be sent out as two files – an introductory PDF featuring deep dives into international brands from Propel’s writers, and a fully searchable Excel sheet for easy access to key data. The analysis includes Matteo Frigeri, founder of Seeds Consulting, on the challenges of recruiting the right UK franchisee, Michael Ingemann, director of Think Hospitality, on why European brands chose the UK for expansion, and Meaningful Vision founder Maria Vanifatova examining the UK market for quick service restaurant operators. The International Brands report will be available from 9am on Friday, 28 March for £595 plus VAT, with existing Premium Club members able to purchase at a discounted rate of £395 plus VAT. Premium Club members will receive it free on Friday, 9 May at 9am. Pre-order your copy today by emailing: kai.kirkman@propelinfo.com.

State of Play Hospitality promotes Louise Neilson to COO: State of Play Hospitality, the international experiential leisure operator, has promoted Louise Neilson to chief operating officer. Neilson has been with the group for nearly four years and in that time she has “consistently demonstrated outstanding leadership, initially within our UK business and, since January 2024, in the US, where her role has expanded significantly”. Chief executive Toby Harris said: “Louise’s track record in the hospitality industry speaks for itself, and since she joined the group in 2021, she has excelled in several key leadership roles. Having relocated to the US more than a year ago, Louise has shown all of her skills and qualities by expertly steering our US operations and development teams through a pivotal year of growth.” State of Play currently operates six venues under licence in the US for darts brand Flight Club, three Bounce sites in London and a venue in Shoreditch for its bingo concept Hijingo. Last month, Propel revealed State of Play Hospitality had secured a new £15m debt facility to aid its further expansion, and said it was “increasingly confident” that a 50-plus site opportunity exists in the US for Flight Club. The business is also “actively engaged on an opportunity” to bring Hijingo to the US.

Crepeaffaire returns to expansion trial after lining up first opening since being acquired out of administration: Crepeaffaire, the crêpes concept, has returned to the expansion trial after lining up its first opening since being acquired out of administration. Last month, Propel revealed that the future of the brand 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. Crepeaffaire is now set to open in the former Scope unit, at 30 Market Place in Hitchin, Hertfordshire, on Tuesday, 4 March. This will be Crepeaffaire’s second location in Hertfordshire, joining its site in St Albans’ Market Place, and tenth in the UK. At the time of its administration, Crepeaffaire, which has 26 sites globally, closed its locations in Chester and London’s Westfield shopping centre. Following its £149,000 acquisition out of administration, in the UK, Crepe Trading had seven sites plus two in the pipeline, while Crepe Union had 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, became a franchisee of Crepe Union, while the existing UK and international franchise business continued in its current form under Crepe Union. Crepeaffaire was founded in 2005.

 

Permanently Unique Group hires Andrew Jobes as COO: Permanently Unique Group, the independent restaurant business formerly known as Tattu, has hired Andrew Jobes as its new chief operating officer, Propel has learned. Jobes joins the Fenix and Louis operator, from the UAE-based Fundamental Hospitality business, where he spent a year and a half as its chief operating officer. Prior to that, he was a senior director at Tao Group and spent just over two years at Hakkasan, including more than a year as its commercial director. He also spent three years at Punch Pubs & Co, including more than two years as its head of food. Last September, Permanently Unique Group secured a new £15m revolving credit facility to fund future expansion. The company said it had new London locations planned for both its Fenix and Louis concepts, and the opening of its first international Tattu location, which is due to debut in Dubai this summer. Perched on top of the “world's tallest hotel”, Tattu Dubai will span 25,000 square feet with a restaurant, pool club and late-night bar/lounge offering. The development marks the group’s most ambitious project to date. The group currently operates five sites under its flagship Tattu brand.

 

Gordon Ramsay confirms Le Gavroche plans: Gordon Ramsay has confirmed he has secured a 15-year lease on the former Le Gavroche site in London’s Mayfair, where chef Matt Abé will open his first solo venture later this year. Abé is leaving his role as chef patron at Restaurant Gordon Ramsay, to open his own restaurant at 43 Upper Brook Street. Ramsay said: “Le Gavroche holds some incredible memories from my early career. When I heard the property was going to be available, it felt like the right moment to support Matt and come full circle with a restaurant that I loved so much. It has been incredible watching Matt grow throughout the 18 years that we have worked together; he is such a talent and now is absolutely the right time for him to take this next step in his career.” Abé said: “This is a dream come true for me. After 16 years at Restaurant Gordon Ramsay, I’m ready to grow my ambition and open my own restaurant. I am grateful to Gordon for his support, the faith he has shown in me, and I am excited about this huge opportunity.” Abé will continue to consult for Gordon Ramsay Restaurants. Luxury residence operator Grand Residence Club (GRC) by Marriott appointed Davis Coffer Lyons to source a new tenant for the 4,000 square-foot Le Gavroche site, which sits below GRC’s luxury residences. Earlier this week, it was announced Ramsay had struck a deal to merge the UK and US operations of his restaurant group in a move that will bring in fresh investment from Lion Capital, the US private equity firm. Gordon Ramsay Restaurants was founded in 1998 and the group now has 34 restaurants across the UK. The company’s global operations include 32 restaurants in the United States and 22 in other countries including China, South Korea, Malaysia, France, Dubai, Singapore and Thailand. 

 

Hall & Woodhouse opens £5m restaurant in Berkshire: Brewer and pub operator Hall & Woodhouse has opened a new £5m restaurant in Crowthorne, Berkshire. H&W Crowthorne is now open following eight months of construction to create a two-storey restaurant with up to 150 seated covers, creating 30 jobs. The restaurant is the gateway building to the residential estate, Buckler’s Park, near to Buckler’s Forest, a 102-hectare Forestry Commission site. The venue includes a dedicated bar, a pantry, a dedicated dining space, a library nook and a large terrace and garden. Mark James, property director of Hall & Woodhouse, said: “We are so proud of what we have designed at H&W Crowthorne. The entire project has been driven by our passion to build something special, somewhere warm and inviting that reflects the local environment and its heritage, but with a contemporary twist.” In a nod to sustainability, H&W Crowthorne has enough solar roof panels to run the building’s heating system, plus LED lighting, sustainable waste disposal and upcycled materials and furniture. Hall & Woodhouse operates circa 150 sites.

Multi-brand franchisee opens 60th Starbucks site: Multi-brand franchisee KBeverage has opened its 60th Starbucks site. The company reached the landmark after a double opening – at Nottingham’s Victoria Centre and Castle Donnington DT Stud Brook Business Park. KBeverage was founded in 2015 by Alok Yadav, who arrived in the UK from India in 2007 speaking little English, but taught himself by reading pizza menus at the Domino’s where he had a cleaning job. Yadav went on to build portfolios with both Pizza Hut, which he has since sold, and Starbucks before returning to Domino’s in June 2023 to open his first franchise store with the company he started out with. “Teamwork is the secret that makes common people achieve uncommon results,” Yadav said. “This milestone couldn’t be possible without a wonderful team. Together, we will continue to drive meaningful growth and create an even greater impact in thecoming months heading towards number 100.” KBeverage, which in 2023 acquired the nine-strong GK Coffee Group portfolio, previously said it is targeting 100 Starbucks stores by the summer of 2026. In 2023, KBeverage set up a new company, KChicken, to take on a franchise of US brand Slim Chickens – which is being rolled out here by Boparan Restaurant Group – and has so far opened two stores here.

 

Trafalgar Entertainment named as operator for new £50m Bradford venue: Live entertainment company Trafalgar Entertainment has been named as the operator for Bradford Live – the new £50m entertainment centre on the site of the former Bradford Odeon. Bradford Live is a 3,000-plus seated and 3,500-plus standing capacity music, comedy, events and entertainment venue, together with event spaces. NEC Group was previously meant to operate the venue, but last September, the company confirmed it had pulled out to concentrate on its operations in the Birmingham area. Trafalgar Entertainment will now begin the final fit out of the building to its own specifications, with the venue expected to open in the autumn. Founded by Sir Howard Panter and Dame Rosemary Squire in 2017, Trafalgar Entertainment is focused on new productions, venue operations, live music and comedy, events and hospitality, performing arts education, ticketing, distribution and filming of live event cinema and TV live-streaming. Bradford Live joins the company’s growing portfolio of venues, which includes theatre spaces and multi-purpose music, events and comedy venues including the Olympia Theatre in London and the Theatre Royal Sydney in Australia. Trafalgar Entertainment has 21 venues in total. Sir Howard said: “Bradford is already a thriving, cultural destination, but as the UK’s City of Culture for 2025, Bradford has an even greater future ahead, and we’re excited to be a part of that journey with Bradford Live.”

  

Oxygen opens at Manchester’s MediaCity for 13th site: Indoor family activity brand Oxygen has opened its 13th site, at Quayside MediaCity in Manchester. Oxygen has taken over the 26,400 square-foot former site of I’m a Celebrity Jungle Challenge, following a £2.5m investment. The new park features 24 trampolines, a mega-airbag, an inflatable park, an interactive Strike Arena, a high ropes course and a Sky Rider aerial ride. There is also a dedicated zone for under-fives, where Oxygen holds daily sessions designed to support toddlers’ development, as well as regular “peaceful play” sessions for those with sensory needs or learning difficulties. On the first Friday of every month, Oxygen at MediaCity hosts a neon night party, featuring music, disco neon lights, jumping, games, dancing and competitions. There is also an onsite cafe, serving up Oxygen’s new menu, with choices including Oreo and strawberry pancakes, chicken and vegan tenders, pizza. burgers and jacket potatoes. Stephen Wilson, chief executive of Oxygen Activeplay, said: “Opening Oxygen at MediaCity is a really significant moment. We set out to create a really special environment where our jumpers can come and play from the minute they step through the doors, so we’ve worked really hard to bring our new worlds to life.”

 

North west holiday park operator Holgates sees increase in turnover and profit: North west holiday park operator Holgates saw an increase in both turnover and profit in the year to 26 February 2024. The business, which operates ten holiday parks across Cumbria and Lancashire, reported a 14% rise in turnover from £20,591,761 in 2023 to £23,395,014. Pre-tax profit grew from £4,791,490 to £5,906,760. No government grants were received (2023: £6,000) and dividends of £250,000 were paid, the same as in the previous year. In January 2024, the group acquired Carnforth motor vehicle repair and maintenance business A&W Commercials for a total consideration of £1,119,374. The acquired business contributed turnover of £478 and a pre-tax loss of £1,342 in the reporting period. Director Michael Holgate said: “Sales have increased this year in most categories. Overall, the group has made a net profit before tax of £5.9m and shareholders’ funds have increased to £38.8m at 28 February 2024. The directors are pleased with the level of business and the year-end financial position and expect that the present level of activity will be sustained for the foreseeable future. Cash reserves remain positive, enabling the group to finance operations and service existing loans without the need for further borrowing.”

 

Maki & Ramen lines up Leicester site: Edinburgh Japanese restaurant concept Maki & Ramen is to continue its expansion with an opening in Leicester. The eight-strong business, which was founded by Teddy Lee in 2015 and is led by Michael Salvador, is planning to move into the former TM Lewin store on the upper level of the Highcross shopping centre in the city. At the end of last year, Maki & Ramen told Propel it planned to open seven new sites in 2025, including its first franchise locations, while an opening in London was on its radar for 2026. The group said it planned to open five company-owned sites in 2025 – in Birmingham, Aberdeen, Newcastle, Leicester and Sheffield’s Meadowhall. Additionally, Maki & Ramen has launched a franchise arm, with two new franchised locations set to open, in Manchester’s Northern Quarter and Glasgow’s West End, in 2025. Maki & Ramen is funded through a mix of self-funding, loans and investments. The group plans to open a site in Birmingham’s King Edward House in New Street. At the same time, Maki & Ramen has lined up an opening for the spring, in the former Carluccio’s in the Union Square shopping centre in Aberdeen.

 

Crieff Hydro reports record turnover and Ebitda: Crieff Hydro, the eight-strong Scottish hotel operator led by Stephen Leckie, has reported turnover increased to a record £38,888,364 for the year ending 29 February 2024 compared with £36,459,896 the previous year. Ebitda was up to a record £4,142,327 from £3,579,784 the year before. Pre-tax profit dropped to £31,587 from £418,657 the previous year. In August 2024, the group, which also operates Highland Safaris near Aberfeldy, renewed its loan agreement with Santander for a further five years. Leckie said: “Predictions for FY24 were downbeat, made as they were in the wake of the mini-Budget and at a time when the cost-of-living and cost-of-doing-business crisis were at peak uncertainty. In this context, revenue growth across the family of 7% and underlying Ebitda up on improved margins is an excellent result. Growth in revenue and profit was seen at all hotels, and a decade on from our first involvement, both Peebles Hydro and our hotel cluster on the west coast are each contributing more than £1m of Ebitda to the family. Thanks to this profitability we have been able to continue to reinvest more than £1.9m whether that is in the hotels themselves or in technology and energy or sustainability projects. Although we have identified more opportunities for growth, we are conscious that many uncertainties remain not least around demand in the context of a fragile economic outlook and a number of well documented factors that the wider hospitality sector is exposed to. While there is short term uncertainty, our systems and team are in a strong position to monitor, anticipate, and react to these. At the same time we continue a priority focus on the long term value and sustainability of the company for shareholders and our contribution to Scotland's sustainable tourism. With this in mind, alongside regular annual capex we continue to develop significant plans to invest for the future for our guests, our systems, people and in sustainable energy.” The group, which employs around 750 staff, received government grants of £7,132 (2023: £19,107). No dividend was paid (2023: nil).

 

Wendy’s franchisee set to open second Peterborough site, seeking locations across the Midlands for further drive-thrus: Wendy’s franchisee Blank Table, which launched the brand’s debut UK drive-thru restaurant, is set to open a second Peterborough site and said it is seeking locations across the Midlands for further drive-thrus. Blank Table signed up as Wendy’s second franchisee in January 2023 following the brand’s return to the UK, and the following month opened the landmark drive-thru, at Brampton Hut on the A1/A14 interchange. Blank Table has since opened further sites in locations including Wisbech, Cambridge, Ram Jam Services in Rutland and Bourges View business park in Peterborough, and will tomorrow (Thursday, 20 February) open a second Peterborough site. The restaurant, in the city’s Cygnet Park, will be Blank Table’s seventh overall. Propel understands Blank Table is now seeking to expand its footprint across the Midlands and is seeking locations in areas such as Stafford, Coventry, Walsall, Oldbury, Wolverhampton, Halesowen and Birmingham to develop drive-thrus. The sites must be a minimum of 0.6 acres, have high traffic density with high levels of footfall, and have prominent frontage and visibility as well as good access provisions.

 

Hollywood Bowl launches £10m share buyback programme: Hollywood Bowl has launched a new share buyback programme worth up to £10m. The programme follows shareholder authorisation granted at its annual general meeting on 30 January. The company said the initiative, which would run until no later than 29 January 2026, was being conducted through non-discretionary agreements with Investec and Berenberg. Hollywood Bowl said the buyback reflected its strong cash generation and balance sheet strength, aligning with its capital allocation policy. The board said it viewed the programme as an efficient way to return excess capital to shareholders while continuing to invest in business growth. The programme follows a similar buyback announced in February last year. The company said the purpose of the repurchase was to reduce its share capital, with all acquired shares set for cancellation. Last month, Hollywood Bowl reported trading over the three months to 12 January 2025 has been strong, including a record revenue month in both the UK and Canada in December. 

 

Hotel group Sandman sees increase in turnover and profit: Hotel group Sandman saw an increase in turnover and profit in the year to 1 January 2024. The company operates hotels in the UK under its Sandman Signature brand in Aberdeen, Gatwick and Newcastle and Glasgow. The Glasgow location, in the city’s West George Street, opened towards the end of the reporting year, in November 2023. Turnover grew from £11,902,553 in 2022 to £15,713,743 while pre-tax profit was up from £1,868,440 to £2,369,860. No government grants were received (2023: £22,029) and no dividends were paid (2023: nil). Occupancy levels were up from 73% in 2023 to 75% while average room rate increased from £76 to £83. “The increased performance has led to a stronger financial position, with net assets increasing to £5,933,527 (2023: £4,123,189),” director Mitchell Gaglardi said. “The company is optimistic on the future and continues to assess opportunities for new hotels to manage.” Post year-end, the company revealed plans for a 238-bedroom hotel at Edinburgh airport.

Sir Sean Connery’s son invests £1m in Scottish inland surf resort: The son of late actor Sir Sean Connery has invested £1m in a Scottish inland surf park. Jason Connery said the Lost Shore Surf Resort, at Ratho on the outskirts of Edinburgh, “brings something truly special to Scotland”. The £60m resort opened in November and has a wave pool described as the largest and most advanced in Europe. The pool has a 250-metre beachfront and can generate up to 1,000 customisable waves per hour. The resort, founded by Andy Hadden, also has accommodation, restaurants and a surf school. Connery, who co-owns First Stage Studios in Leith, Edinburgh, with business partner Bob Last, said: “Lost Shore Surf Resort is an exciting and ambitious project that brings something truly special to Scotland. Andy Hadden’s vision for the resort is inspiring, and I am pleased to support a business that aligns with my passion for Scottish enterprise, sport and culture.” The resort is projected to welcome more than 160,000 visitors a year. Hadden said: “These funds will help us take the project to the next level. We are thrilled to have Jason Connery backing our vision for Lost Shore. This investment underlines the potential of inland surf parks not only as world-class sporting destinations but also as drivers of economic growth and community engagement.”

New restaurant and bakery to open in former Forza Win site in London’s Camberwell: A new restaurant and bakery is to open in the former Forza Win site in London’s Camberwell this spring. Italian restaurant Forza Win will offer its last service this Friday (21 February) after more than a decade at 31 Camberwell Church Street. Replacing it will be hello JoJo, a relaxed all-day venue from locals Jo Lavender and Rob Newlan. With an ethos of developing talent from the surrounding areas and sourcing produce as locally as possible, hello JoJo will open daily. The bakery will offer fresh bread and pastries along with south London-roasted speciality coffee, while the restaurant menu will offer salads and pasta at lunch, and a broader and more refined offering in the evening. There will also be low intervention wine and local beer on tap, along with a selection of seasonal cocktails and non-alcoholic and soft drinks. Newlan said: “Jo and I have set out to create our dream restaurant, somewhere that celebrates all that is great about Camberwell. After years of austerity and mean-spirited times, we fundamentally believe that using great ingredients and abundant generosity can bring flavour, colour and hope back into our neighbourhood.” Owners Bash Redford and Michael Lavery previously operated Forza Win in Peckham before closing it in 2020 and moving it to Camberwell. They also operate Forza Wine bars in Peckham, and at the National Theatre, and last year launched another pop-up concept Forza Taps at the National Theatre.