New World Trading Co announces record sales of £73.5m, lfl sales up average 16% at The Botanist conversions, planning rebrand: Graphite Capital-backed pub restaurant group The New World Trading Company (NWTC) has announced record sales and said like-for-like sales are up 16% on average at its The Botanist conversions. The company, which operates 27 bars and restaurants across the UK, has reported revenue of £73.5m for the year ending 31 March 2024. This compares to turnover of £71,971,794 in the previous year, which was up from £59,989,784 in 2022. The company also said it has achieved a 20% increase in underlying company Ebitda. Over the past year, the company’s new leadership team has placed The Botanist “at the heart of its growth plans”, and it said the sites it has converted to this brand have seen impressive sales uplifts. NWTC managing director Amber Wood said: “2024 marked the start of a new chapter in our company history, with a strengthened leadership team and streamlined focus on The Botanist brand. Since these results, we have opened three new locations, alongside the conversion of five former single-site brands to The Botanist, demonstrating our commitment to The Botanist as our lead brand. Like-for-like sales have increased by an average of 16% in these converted locations. We’re delighted that the First Dates team have again chosen to film the latest series of the popular Channel 4 show at our beautiful Bath location, showcasing the strength of The Botanist brand.  We’ve got a lot to be excited about in the coming months, including an exciting rebranding project, and we can’t wait to share the next phase of The Botanist’s journey with our guests, this spring.” As well as 24 The Botanist, locations, NWTC operates three single-site brands – The Oast House (Manchester), The Florist (Watford) and The Trading House (London). NWTC recently converted The Furnace in Sheffield to The Botanist, and a new The Botanist will open in Bournemouth in May, while the company has also lined up an opening in Lichfield. Earlier this month, Propel revealed that NWTC had consolidated its management team, which led to the departures of people director Karl Jolly and property director Tim McCormac. Jolly joined NWTC at the start of 2023 after a brief stint as people director at catering equipment supplier Nisbets. He previously spent more than three years as chief people officer at Sticks‘n’Sushi, the Japanese restaurant brand. Jolly, who has also had stints at Mitchells & Butlers and Pret A Manger, spent almost 13 years as director of people at motorway services operator Welcome Break. It is thought that his responsibilities will now come under the Wood’s remit. McCormac has been with the business as its property director since the summer of 2016. Propel revealed Last October that NWTC intended to restructure its business to focus on its large Botanist-branded sites, and as part of the restructuring, it launched a company voluntary arrangement that saw the closure of three loss-making sites. NWTC features in the Premium Club Turnover & Profits Blue Book, which is available exclusively to Premium Club subscribers and features 1,066 companies. Its turnover of £73.5m for the year ending 31 March 2024 is the 157thhighest in the database. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.

Travelodge sees slower start to 2025 as full-year revenue remains above £1bn: Travelodge has revealed its yearly sales edged higher as consumers prioritised experiences, but said 2025 has got off to a slow start. The company – which runs more than 600 sites across the UK, Ireland and Spain – saw revenue remain above £1bn for the year ending 31 December 2024, rising slightly by 0.1% over the year. Underlying earnings stood at £224.1m last year, with the group saying on a comparable basis adjusted earnings fell 11% to £211.5m as it faced “softer market rates and continued industry-wide inflationary pressures”. Occupancy levels were slightly higher thanks to people going to more events and business conferences. However, the group cautioned that sales have dipped in recent months due to fewer events and slower corporate demand, and weaknesses in the wider market. Revpar fell slightly year-on-year in the first quarter, with declines led by London. Chief executive Jo Boydell said: “The first quarter is typically quieter for Travelodge and we have seen a slight decline in demand due to several external factors, including fewer events being held across the UK. However, we are encouraged by improving indicators, including strong long lead event demand, with more events now announced for 2025 than in all of 2024. Leisure demand has been the strongest so far, boosted by events including the Six Nations rugby and Crufts.” Travelodge expanded through the year, opening five more UK hotels and adding six more sites in Spain. Boydell said its new hotels have “performed really strongly” and the company is set to push forward with its plan to open 300 more venues. The group said it was taking action to offset a hit of about £21m this year from soaring labour costs due to the incoming employers’ national insurance contributions rise and increase in the national minimum wage. The company said: “Travelodge remains focused on managing inflation through its long-established cost efficiency programme, leveraging in-sourcing, technology, automation and innovation.”