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Wed 11th Jun 2025 - Propel Wednesday News Briefing |
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Story of the DayThai Leisure Group – with the right opportunities before us and when the conditions are right, we intend to seek investment: Ian Leigh, chief executive of Thai Leisure Group, operator of Thaikhun and Chaophraya, has told Propel that in due course, “with the right opportunities before us and when the conditions are right”, the business intends to seek investment and push forward with its longer-term growth plans. It comes after the company said it was “strongly positioned" after undergoing a refinancing. Leigh told Propel: “There is no doubt that it’s a very challenging time for the sector with an already pressured situation compounded by the government's last Budget. We’re determined to meet the challenges head on. For our Chaophraya brand, we’re choosing to double down on what we do best – authenticity, quality and celebration. For our fast-casual Thaikhun brand, the emphasis is on the connectivity to our roots in Thailand, to our authenticity, homeliness and warmth as well as fantastic value for money. We’re pressing these buttons every single day as we push forward with our various operational and marketing development programmes. Where we are seeing lower footfall, this is being matched by higher spend-per-head. As customers become more discerning, our aim is to meet and exceed their expectations every time and that is our current focus. In due course, with the right opportunities before us and when the conditions are right, we intend to seek investment and to push forward with our longer-term growth plans, which involve adding some new locations to our estate.” It comes as the company reported turnover fell 3.9% to £31,287,610 for the year ending 30 January 2025 compared with £32,548,763 the previous year due to the “challenging” trading environment. Pre-tax profit jumped to £3,605,970 from £801,901 the year before after £3,303,374 in loans was written off following the repayment of its facility A and B loans in full. During the year, exceptional expenses were incurred of £204,826 (2023: 168,257) in relation to the refinancing and loan write-off. All but one of its 16 restaurants recorded a profit “despite the pressures of the economic climate”.
Industry News:Sponsored message – on-trade has opportunity to double growth of beer: The on-trade has an opportunity to double the growth of beer, according to the new Heineken Beer Report 2025: Doubling Growth in the Beer Market, launched to help operators unlock the full potential of the beer category. The new report delivers insights and expert advice to help the on-trade tap into the continued momentum behind beer, which is growing faster than cider, wine, spirits and soft drinks. With year-on-year value growth of 3%, beer remains the UK on-trade’s biggest drinks category and is now worth £13.8bn to pubs, bars and restaurants. The report also outlines a roadmap to help operators capture up to £1bn in further growth over the coming years. Will Rice, on-trade director from Heineken UK, said: “Beer is the biggest alcoholic drinks category in the UK on-trade and we are really excited about its future. The Heineken Beer Report 2025 reemphasises the importance of the category to the on-trade, with so many consumers viewing beer as critical part of the pub going experience. That said, there is clear evolution to consumer behaviour when it comes to beer consumption. Our hope with this report is that it helps operators to understand these changing consumer trends and equips them to capture the growth opportunity these trends represent.” The report is available free to all operators here. If you have a sponsored story you would like to see featured in this newsletter position, email paul.charity@propelinfo.com.
Propel to release Experiential Leisure Report 2025, with 43,000 words, on Friday, 1 August – pre-order now: The 2025 Experiential Leisure Report, the second year of Propel’s exhaustive report on the fast-growing experiential leisure market, will be published on Friday, 1 August at 9am. The report profiles the current shape of the experiential leisure market – including brands, estate size, trading type and geographical location and future trends. It includes opinion from leading players Juliette Keyte, marketing director at Red Engine, Richard Beese, co-founder of We Do Play, and Lisa Boden, partner at investor Edition Capital, and provides a detailed list of UK experiential leisure companies including key staff and Companies House information. The report includes 197 companies, marking a 10% growth in the sector since last year’s study, with 3,700 sites. Katherine Doggrell, Propel’s editorial advisor and the report’s author, said: “The experiential leisure sector is a major growth driver of the hospitality sector, with the market maturing into overseas expansion and franchising as it continues to build and inspire the rest of the market. With trends such as padel keeping the segment fresh, this report hears from operators and investors as they try to anticipate the next innovations. This report delivers an exhaustive overview to all those interested in this influential sector.” The report will be released on Friday, 1 August at 9am and is available for £595 plus VAT to pre-order now. Existing Premium Club subscribers can receive it on Friday, 1 August for £395 plus VAT. The report will be made available for free to existing Premium subscribers on Wednesday, 10 September at 9am. Email kai.kirkman@propelinfo.com today to order a copy.
Burger King chief executive Alasdair Murdoch to speak at Operational Excellence Conference, open for bookings with 20% discount on tickets for Premium Club subscribers: Alasdair Murdoch, chief executive of Burger King, will be among the speakers at Propel’s Operational Excellence Conference, which is being held in partnership with Purple Story. The conference – which takes place on Wednesday, 9 July at One Moorgate Place in London and is open for bookings – is designed for operations directors, managers, area managers, site managers and chief executives who want to maximise performance. Murdoch will talk about how operational standards are improved and maintained in a company that runs directly managed sites and franchised sites. He will also speak about leading, coaching and developing a high-performance team. For the full speaker schedule, click here. Tickets are £295 plus VAT for operators and £345 plus VAT for suppliers. There is a 20% discount for operators and suppliers who are Premium Club subscribers. Email: kai.kirkman@propelinfo.com to book.
Premium Club subscribers to receive two updated databases this week: Premium Club subscribers will receive two updated databases this week. The latest Propel Food & Beverage Franchisee Database will be sent today (Wednesday, 11 June), at 12pm. The database will feature ten new entries to take the total number to 250 and more than 102,000 words. The new entries include Domino’s franchisee Team West, Burger King franchisee Windmill (NI) and multi-brand franchisee Airport Retail Enterprises. Premium Club subscribers will then receive the next Turnover & Profits Blue Book on Friday (13 June), at 12pm. The database will feature 64 updated accounts and 17 new companies, taking the total to 1,125. A total of 712 companies are making a profit while 413 are making a loss. Premium Club subscribers also receive access to four other databases: the Multi-Site Database, the UK Food and Beverage Franchisor Database, the New Openings Database and the Who’s Who of UK Hospitality. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events including the Operational Excellence Conference in July and discounts on specialist sector reports. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers 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 subscribers 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 subscribers 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.
Nearly a third of hospitality leaders say their profits have fallen year-on-year: Mounting costs have strained businesses’ margins, with nearly a third (31%) of hospitality leaders saying their profits have fallen year-on-year, the latest Business Confidence Survey from CGA by NIQ and workforce management software provider Sona reveals. Just over a fifth either operated at a loss (15%) or broke even (6%) in the first quarter – treble the number of 5% in the last quarter of 2024. Nearly three in five (59%) leaders said they currently have fewer than six months' worth of cash reserves, while one in ten (10%) consider their business is at risk of failure in the next 12 months. Furthermore, nearly two thirds of leaders have reduced their staff count (65%) and/or cut the hours available to their staff. Significant numbers have deferred pay increases (40%) and reduced spending on employee benefits and training (both 29%). Following the sharp increases to national insurance contributions and minimum and living wage levels in April, four in five (80%) leaders report that wage bills are now significantly higher than they were 12 months ago, and nine in ten (91%) said increased employment costs are a concern for the next 12 months. There has been some relief on energy bills, however, with well over half (57%) of leaders reporting these have decreased year-on-year. Karl Chessell, director – hospitality operators and food EMEA at CGA by NIQ, said: “The double whammy of higher costs and softer trading have hit hospitality businesses hard. It is particularly frustrating that so many of the increases in employers’ outgoings – from labour bills to taxes to inflation to compliance with legislation – are out of their control. These costs are choking hospitality businesses and compromising the investment and employment that are so important to the UK economy. The longer term outlook for the sector remains good, but it deserves much better support than it is currently getting.” Paul Watson, Sona’s vice-president of hospitality, added: “The hospitality industry is continuing to endure a storm of economic challenges, stifling growth and draining productivity. Now isn’t the time to weather the storm, it’s the time to empower businesses to operate as efficiently as possible in order to help them trade their way out of trouble.”
UKHospitality again urges government to reverse employers’ national insurance increase after more than 100,000 jobs lost since change: UKHospitality has again urged the government to reverse the increase in employers’ national insurance contributions after new figures showed more than 100,000 jobs have been lost across the economy since the change in April. The Labour Market Overview, published by the Office for National Statistics, estimates the number of payrolled employees in the UK in May 2025 decreased by 109,000, compared with the month before. UKHospitality said this loss of jobs exceeds predictions from both the Office for Budget Responsibility (OBR) and a major bank. The OBR originally predicted the changes to employers’ national insurance contributions would cost 50,000 jobs, before revising its prediction to say the impact would be higher. Deutsche Bank predicted it would cost 100,000 jobs. UKHospitality chief executive Kate Nicholls said: “Losing more than 100,000 jobs across the economy in a month goes far beyond the worst-case scenario predicted by the government’s own fiscal watchdog, major banks, and countless business groups. We were clear at the time that the changes to national insurance contributions were a tax on jobs, and so it is sadly proving. At a time when we are all striving to grow the economy and help people back into work, the changes to national insurance contributions are acting as an anchor to the government’s ambitions. Sectors like hospitality are the very sectors you need to create jobs in every part of the UK and for people of all ages, education and background, but hospitality and those working part-time are among the hardest hit by these tax increases. These shocking figures should make it abundantly clear to the government that the changes to employers’ national insurance contributions are inflicting more harm than good, and they should be reviewed and reversed urgently.”
Restaurant operators turning to meal deals and promotions as footfall drops and competition heats up: Restaurant operators are turning to meal deals and promotions as footfall drops and competition heats up, particularly in the pizza segment, according to new data from Meaningful Vision. The findings show pizza prices rose just 2% year on year in the first four months of 2025 – far below the 6% average across quick service restaurants. Maria Vanifatova, chief executive of Meaningful Vision, said this is down to lower product differentiation, and a heavy reliance on meal deals and promotional pricing. “Unlike other fast food places, which vary by type of food offered in menu, pizzas across brands are more uniform, and that makes price the key battleground,” she said. Meal deals are now more frequent (up from 16% to 20% year on year), while the average price of a pizza meal deal has fallen 2%, bucking inflationary trends. The segment’s heavy reliance on delivery has also added to the pressure, Vanifatova said. Overall outlet growth was up in the first four months of 2025 (3.9%) compared with 2024 (2.1%), but fast food expansion is slowing, down from 3.8% last year to 1.0%. Segments like chicken, ethnic, and pizza are seeing especially steep slowdowns, with pizza in decline (down 0.8%). Despite outlet growth, overall footfall was down 0.6%. Breakfast footfall is down 14.4%, while daytime is now the fastest growing segment – midday (12pm–3pm) traffic is up 3.0% and late afternoon (3pm–6pm) by 8.1%. Special price was a top tactic among price promotions in restaurants, up from 70% in 2024 to 72% in the first four months of 2025. Conversely, percentage discount was top within delivery with 45%, while for chicken shops, gamified apps and tiered rewards are becoming the norm. For the pizza delivery segment, 57% of promotions on delivery platforms are percentage discounts that are significantly higher than the 43% average across fast food. Offers such as “buy one, get one free” (15%) and special bundle pricing (17%) are also widely used. Vanifatova said: “Although the total hospitality market has seen new store growth, that’s happening in the face of falling footfall and tightening margins. The pizza segment tells this story vividly – aggressive discounts, rising delivery costs, and minimal price flexibility are all compressing profits.”
Trend for going out earlier gains momentum as most popular average dinner reservation time moves closer to 6pm: The post-covid trend for going out earlier has gained momentum as the most popular average start time for a dinner reservation has moved closer to 6pm. The GO Technology report from hospitality technology provider Zonal, in partnership with CGA by NIQ, shows that 6.12pm now takes top billing and is now “the new 8pm”. The survey, of 5,000 British adults showed that just 2% of bookings in the UK are now for after 9pm. And while in 2024, 46% of all bookings were for times between12pm and 6pm, in the first quarter of 2025, this rose to 48%. Reasons for this include to convenience, according to 37% of respondents, followed by ease of booking (22%), shorter waiting times (16%) and better public transport options (18%). The drive towards earlier visits is being driven by younger consumers, with 22% of 18- to 34-year-olds going out earlier than they were a year ago (up by 3%). However, there is also a shift for older demographics, with 11% of 35- to 54-year-olds also choosing to go out earlier compared to 2024 (+5%), representing the biggest change across all age groups. Tim Chapman, chief commercial officer at Zonal said: “This emerging behavioural trend is having a significant impact on our industry. To meet these changes, operators need to understand the underlying motivators, and in doing so, they will be better equipped to make the operational changes, experiences and offers needed to give consumers what they want.” Karl Chessell, CGA director – hospitality operators and food EMEA added: “The movement towards earlier meals and drinks is reshaping the landscape of hospitality. As our GO Technology research shows, traditional daypart boundaries have blurred, and consumers are no longer rooting their occasions in set times of day. This is creating new headaches for some operators, but for those who can flex the offer there are sizeable opportunities too.”
Job of the day: COREcruitment is working with a luxury country hotel in Oxfordshire that is seeking a senior restaurant manager. A COREcuitment spokesperson said: “The senior restaurant manager will be a well-organised individual with a passion for fine dining and food and beverage. The role will involve managing and developing the food and beverage team in the restaurant to the highest level.” The salary is up to £50,000. For more information , email ed@corecruitment.com.
Company News:Mowgli enhances leadership team with new marketing and development hires: Mowgli, the Nisha Katona-led, TriSpan-backed business, has enhanced its leadership team after hiring Emily Weston as its new marketing director, and Tom Hatcher as its new business development director, Propel has learned. Weston joins the 26-strong Mowgli after four years at Wagamama, including the past two years as director of marketing. Previous to that, she spent eight years at Unilever. Hatcher spent nine and a half years at PizzaExpress, including the past 14 months as the brand’s strategic projects director. He has also had stints at KFC UK & Ireland and Yum! Brands. Hatcher will oversee Mowgli’s first steps into the delivery market. Katona told Propel: “As Mowgli embarks on another year of growth and innovation, our focus falls on exciting new projects, including the advance of our app and the launch of delivery services. To enhance our guest experience and deftly tread the world of delivery, we're delighted to welcome two seasoned experts to our leadership team.” Last month Katona told Propel that the business has more locations “quietly cooking away behind the scenes” and that “growth at a time of such challenge is something we don’t take for granted”. Propel revealed in April that Mowgli is to make its international debut with an opening in Dublin. The business has secured a site in the Irish capital’s South Great George’s Street for an opening this autumn. This summer, the business plans to open in the former Superdry clothing store, in Norwich’s Chantry Place, and make its debut in Northern Ireland, in Belfast, in the city’s Victoria Square. Propel understands Mowgli is also in talks on a second site in Edinburgh.
Cosmo aiming to open up to six new restaurants per year: World buffet brand Cosmo has said it is aiming to open up to six new restaurants per year, as it prepares to launch its latest location, in Preston. Cosmo was launched in 2003 by a group of founders who were “inspired by the high-end buffet experiences you’d find in luxury hotels across the Far East” and “wanted to recreate that same wow factor here in the UK”. Cosmo has since grown to 20 sites across the UK, offering cuisines from around the globe, and is set to open soon in Preston’s £45m Animate scheme, a council-owned leisure and entertainment destination. “We’ve got 20 restaurants open and thriving across the UK and Ireland, with more on the way,” head of operations Suzanne Wink told Invest Preston. “We’re growing steadily, aiming to open three to six new restaurants every year. We’re always on the lookout for the right locations – places with strong footfall where Cosmo can really become part of the community. Preston will certainly be one of the biggest and boldest restaurants in our group. The Animate entertainment complex really shows off what Cosmo is all about: scale, theatre and impressive variety. The restaurant will have more than 150 dishes cooked fresh every day – not forgetting our robot assistants, Bella and Hola, who will be able to serve diners and even sing them happy birthday. Bella and Hola look forward to welcoming diners at the end of July. Cosmo isn’t your average buffet, we’ve built something that feels more like a culinary adventure – think fresh sushi, sizzling teppanyaki, aromatic curries, handmade pizza and so much more, all made fresh in front of you.” Earlier this month, Propel revealed that Cosmo had hired Adam Gregory, formerly of Turtle Bay, Wagamama and Be At One, as its new group managing director. Cosmo is also currently rolling out its fledgling Umami World Kitchen concept, which already operates sites in Blackpool and Telford. The company is planning to launch further sites under the concept in Leicester, Colchester, Newcastle, Peterborough and Swansea. Earlier this year, the business also launched a new concept called Smokin’ Hot Buffet and Grill in Coventry, relaunching its debut Umami World Kitchen in the city’s Corporation Street under the concept.
East of England multiple operator Lapen Inns aiming to add another five pubs to estate in next two years after acquiring eighth site: East of England multiple operator, Lapen Inns, is aiming to add another five pubs to its estate in the next two years after acquiring its eighth site. The company, run by Subodh Gautam together with business partners Ravi Acharya and Purnaman Bajcharya, has acquired the lease of The Wildfowler in Kings Lynn, its third with Heineken-owned Star Pubs. The pub has been renamed the Queen Elizabeth and undergone a £100,000 refurbishment by Star Pubs. Gautam, Acharya and Bajcharya started running their own pubs in 2021 when they took on the Star Pubs lease for The Railway in Whittlesey in Cambridgeshire. Their other pubs include The Bell in Sawtry, Cambridgeshire; The Old Crown, in Girton, Cambridgeshire; and The Angler in Oakham, Rutland, another Star Pubs lease. Gautam said: “I came to England in 2009 as a student and worked in a Birmingham pub that offered Nepalese dining. Having opened a café in London and run a pub in Staffordshire, I decided to build a pub operation across the east of England offering Nepalese dining. Our plan is to open another five sites in the next two years. All seven of our trading sites are successful and I am confident the Queen Elizabeth will be so too. The pubs all also offer takeaways, which provides an additional income stream. It is a business model that is perfect for the current economic climate. The key to success for us is for our pubs to have a good local community around them and to offer great quality affordable food.”
The Revel Collective hires new CFO: The Revel Collective – the operator of 65 venues trading predominantly under the Revolution, Revolución de Cuba and Peach Pubs brands – has hired Matthew Fowler as its new chief financial officer. Fowler, who held the same position at MusicMagpie until April this year, and prior to that, at pharmacogenetic testing company Genedrive, will join The Revel Collective on Monday (16 June). Current chief financial officer Danielle Davies, who said in March she was leaving “to take up another opportunity”, will remain in the business in the short term to effect an orderly transition of her responsibilities. Chief executive Rob Pitcher said: “Matthew’s wealth of experience will be invaluable in helping to steer the group through the challenging times currently faced by the hospitality sector and support the business to realise its true value.” Fowler added: “I look forward to working with Rob and the wider team to help deliver on the company's strategic plans.”
The Ivy Collection acquires former Fuller’s site in London’s Battersea, plans Ivy Asia Dublin: The Ivy Collection, the Richard Caring-backed restaurant brand, is to further enhance its presence in London after acquiring a former Fuller’s pub site in Battersea. Propel understands that the circa 50-strong Ivy is set to take on the Old Bank pub site in Northcote Road, which closed last month. The site is set to reopen as The Ivy Northcote Road Brasserie. At the same time, the business is also set to add to its eight strong Ivy Asia brand with an opening in Dublin. The company already operates The Ivy in Dawson Street, in the Irish capital. The business is set to open a new restaurant in Nottingham – in the former Hugo Boss store in Bridlesmith Gate. Last month, the FT reported that Caring was in advanced talks to sell a significant portion of his UK hospitality empire – which includes The Ivy Collection and London private members’ club Annabel’s – to an entity controlled by the Abu Dhabi royal Sheikh Tahnoon bin Zayed al-Nahyan in a deal that could exceed more than £1bn.
Dorbiere adds Lancashire village pub to portfolio: Pub operator Dorbiere – which operates circa 40 pubs across the Midlands, north west and north east – has added a site in Lancashire to its portfolio. The company has acquired the freehold of the Pendle Inn in the village of Barley, near Burnley. The property includes a main bar, snug, games room, spacious dining area, beer garden, and six self-contained letting cottages. Dorbiere plans to invest in increasing the size of the kitchen, improving the internal layout of the public areas, and updating the site’s self-contained accommodation – “while retaining the charm and heritage of the inn”. Dorbiere is part of LWC – the UK’s largest independent drinks wholesaler. Ebrahim Mukadam, managing director of LWC and Dorbiere, said: “The Pendle Inn is more than just a pub – it’s a focal point for the local area and a natural hub for walkers exploring Pendle Hill and the Forest of Bowland. We’re proud to be its new custodians and are excited to get to know the local community and visiting ramblers as we breathe new life into this iconic pub.” Fleurets acted on the deal.
Mission Mars to open Rudy’s site in Brighton this week for south coast debut: Rudy’s Pizza Napoletana, the Mission Mars-owned brand, will open its new site in Brighton on Saturday (14 June). The restaurant will launch in the former Chilli Pickle premises in Jubilee Street for the brand’s 35th site. Rudy’s managing director Neal Bates said: “This is a huge moment for us; our first pizzeria on the south coast, in a city that shares our love of great food, great energy, and great people.” Last month, Mission Mars, which is backed by the Business Growth Fund, said it had ten more Rudy’s opening or in legals, with further sites for its Albert’s Schloss concept also under negotiation.
Z Hotels sees losses widen: Z Hotels, owned by former Thistle Hotels chief operating officer Bev King, saw its losses widen in the year to 31 March 2024. The company reported a pre-tax loss of £2,612,135 compared with £1,006,923 in 2023. Last month, Z Hotels put the freehold of its forthcoming hotel in London’s Leicester Square up for sale at a guide price of £42m. Avison Young UK and JLL were jointly appointed by Z Hotels to market the property, with a guaranteed 35-year leaseback to Z Hotels. Located at Garrick House, 3-5 Charing Cross Road, it will be the company’s 12th hotel in London, alongside locations in Bath, Glasgow and Liverpool. The hotel will be fully operational this month.
Maki & Ramen opens Leicester site: Japanese restaurant concept Maki & Ramen has continued its expansion with an opening in Leicester. The nine-strong business, which was founded by Teddy Lee in 2015 and is led by Michael Salvador, has launched in 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 the first site opening in Glasgow in March, at 130 Byres Road. Another franchise site is set to open in Manchester’s Northern Quarter. Maki & Ramen is funded through a mix of self-funding, loans and investments. Propel also understands Maki & Ramen is also set to open in the former Wildwood site in King Street, Nottingham.
Keystone receives £2m investment from shareholders as it forecasts doubling of revenue: Keystone Brewing Group, the brewing operation backed by investment firm Breal Group, has announced a £2m investment into the business to support the next phase of its growth. The investment follows a period of rapid expansion that has seen brands including Hofmeister, North Brew Co, Four Pure and Magic Rock added to its portfolio. The group – which also includes Black Sheep Brewery, Purity Brewing Co, Brick Brewing Co, Brew by Numbers, as well as distribution partnerships with brands such as, Big Drop, Wolfpack and Maison Sassy – is forecasting a doubling of its revenue in the next 12 months. The latest investment, funded by Breal Group shareholders, will allow Keystone to support this growth and meet increasing demand for its products. Planned infrastructure upgrades include a 30,000-hectolitre increase in annual fermentation capacity at Black Sheep Brewery and a 6,000-hectolitre increase in annual fermentation capacity at Purity Brewing Co. Keystone chief executive Steve Cox said: “This investment marks a further major milestone as we continue to scale. With new breweries and brands joining the group and demand rising, it gives us the agility and infrastructure to expand capacity while staying true to the quality and character of each of the brands. We’re well-equipped to grow in a way that’s both ambitious and sustainable.” Mark Williams, partner and shareholder at Breal Group, added: “This amplifies the confidence that we have in Keystone, and indeed this sector for the long term. Not only is Keystone on track to reach its revenue target of £100m by 2028, but it remains steadfast in its mission to deliver exceptional quality, variety and innovation to consumers while embracing new possibilities.”
Boss Pizza opens in Essex: Franchise pizza concept Boss Pizza, founded during the pandemic by Ajmal Mushtaq, has opened in Colchester, Essex, for its second location in England and fourth overall. Mushtaq, who previously operated acclaimed Indian restaurant Mushtaqs in Hamilton, launched Boss Pizza with two stores in Scotland – in Hamilton and Larkhall. The concept made its English debut last year with a launch in Acton, west London, which is temporarily closed, and in February, the business opened a franchise store in Walsall, in partnership with HLN Group. Boss Pizza has now opened at 132 High Street in Colchester. Boss Pizza’s immediate pipeline includes locations in Bradford, Glasgow, Oldham, Nottingham and Milton Keynes – all due to open by the summer. The company also has a further site in Glasgow secured, along with units in Sheffield, Luton, Clydebank, Rochdale, Bletchley and Hemel Hempstead. Mushtaq said last month that Boss Pizza is planning 20 new locations over next 18 months as it works through a pipeline of 50 locations.
PopCity to open Society food hall site in Birmingham in September: PopCity, the venture from commercial property expert Nick Gregory and restaurateur Richard Sweet, will open a site in Birmingham under its food hall concept Society in September. Propel revealed last June that Gregory and Sweet, who were also behind the former Assembly Underground site in Leeds, were set to open a second Society site, in Birmingham’s One Colmore Square. The first Society, which is circa 8,000 square feet and has capacity for 350 people, opened in Manchester in 2021 after a £1m investment. Society Birmingham will be home to five independent kitchens including Shokupan, which will serve up Japanese sandos and melts; Manzoku, which will provide pan-Asian street food style dishes; Slap & Pickle, which will offer 40-day dry-aged smash burgers and loaded fries; while Birmingham operator Amore Pizza will set up a new home in Society. In addition, The Coffee Bar Collective will offer specialty coffee, pastries and small plates. Gregory said: “Society is about creating a place where people can come together in an atmosphere that naturally evolves throughout the day, right through to evening drinks and DJs.” Sweet said: “We want to bring five quality, independent food traders to the site and we're so pleased local heroes are included in the line-up as Birmingham has such a thriving street food scene with some superb food on offer. With each of the food traders having a permanent kitchen, it will be a great opportunity for local, independent businesses in a prime city-centre site.”
Hollywood Bowl appoints SSP technology lead as independent non-executive director: Hollywood Bowl Group, the UK’s largest ten-pin bowling operator, has appointed Asheeka Hyde as an independent non-executive director. Hyde will also be a member of the audit, nomination and corporate responsibility committees when she joins the board on Monday, 23 June. Hyde has almost 20 years of experience building, developing, and leading award-winning data, analytics, and artificial intelligence (AI) teams. She is currently the group technology director – data, analytics and AI for SSP Group, the UK operator of food and beverage outlets in travel locations worldwide. She was previously head of trading analytics at Dunelm, and has experience working across multiple geographies and in different industries including retail (Walgreens Boots Alliance), automotive (Jaguar Land Rover) and financial services (Capital One Bank). Hollywood Bowl chair Darren Shapland said: “Asheeka’s expertise in data analytics and AI will broaden the board's experience in these areas and provide valuable insight as we continue to invest in technology to support the growth of the business.”
Nando’s set to make its Ayrshire debut: Nando’s has confirmed it will open its first restaurant in Ayrshire later this year when it launches in Kilmarnock. Nando’s has not confirmed exactly where the new site will be, but it is believed the business is interested in the former Tony Macaroni restaurant next to the Odeon cinema in Queen's Drive, reports The Daily Record. The building, which was previously a Frankie & Benny's, has been empty since July 2024, when Tony Macaroni unexpectedly closed the restaurant. Frankie & Benny’s had pulled out of the venue in 2020 as a result of the impact of the covid-19 pandemic on the hospitality industry. A spokesman for Nando’s told The Daily Record it was “excited” to be opening in Kilmarnock and would share more details soon. Earlier this year, Nando’s secured a new location in Maidenhead, Berkshire. In a deal led by agent Lunson Mitchenall, the brand took a 15-year lease for a 3,450 square-foot site in Get Living’s One Maidenhead development, in the town. The new restaurant, set to open this summer, marks the brand’s first Maidenhead location.
London Trocadero owner’s hotel concept reports ‘important year of progress’ driven by increased guest demand, new hotel openings and effective cost-management: London Trocadero owner Asif Aziz’s lifestyle hotel concept Zedwell has reported an “important year of progress” driven by increased guest demand, new hotel openings and effective cost-management. Trocadero (London) Hotel manages hotels under the Zedwell concept in Piccadilly Circus and Tottenham Court Road and Hotel Indigo in Leicester Square. The company’s turnover grew to £51,975,481 in the year to 31 March 2024 from £51,897,043 the year before. Of this, £47,034,677 came from its hotels (2023: £39,830,634), £2,451,304 from its restaurants (2023: £10,001,661) and £2,489,500 from management fees (2023: £2,064,748). Average hotel staff numbers rose from 207 to 234 while average restaurant staff numbers fell from 231 to 52 (overall drop from 438 to 286). The company’s pre-tax profit dropped from £1,932,357 in 2023 to £1,686,087. No dividends were paid (2023: nil). Director Faizan Ahmed said: “2024 was an important year of progress, not only by financial performance underpinned by strong guest demand and further growth in the number of hotels such as by adding Zedwell Tottenham Court Road, but also a smooth evolution of leadership and strategy that positions the business for an exciting next chapter. We have made significant strides in the development to address challenges faced as per industry norms and lead by introducing integrated technology solutions to increase customer engagement and improve cost efficiencies. We advanced on multiple fronts, strengthening the ability to capture guest demand, deepening brand loyalty, and driving returns and new growth opportunities. In 2024, the business demonstrated robust financial results, driven by increased guest demand, the addition of new hotel, and effective cost-management strategies. At the close of 2024, the business had secured a strong position in the market, with substantial growth in its portfolio and a diversified offering that appeals to a wide audience. The strong performance during the year was achieved by driving occupancy and average room rates, stringent cost control and introduction of efficiencies, resulting in a gross profit margin of 67% (2023 63%). The balance sheet shows net assets of £3,638,689 (2023: £1,952,602) at the end of the year, with a cash position of £35,601 (2023: £437,095).”
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