What the weekend papers say

A round-up of the weekend's news affecting the hospitality industry…

Phildrew buys Branningans for £67m

Venture capitalist firm Phildrew Ventures has bought the 21-strong Brannigans chain of late night bars and restaurants from Candover Investments for £67m. Phildrew is backing a management buy-in team led by Stephen Evans, formerly of Whitbread's restaurants division. He plans to add 20 more Brannigans over the next three years. -Sunday Business, 26 June.

Corporate hospitality cutbacks

Corporate entertaining is moving away from male-dominated sports events with their private hospitality suites and limitless food and drink to more artistic gatherings such as visits to the Tate Modern art gallery with modest eating and drinking. Colin Tweedy, chief executive of Arts & Business, the corporate entertainment planners, says more women bosses and busier diaries have played a major role in shifting from a day at the races to arts-based events. He also points to the growth in corporate breakfasts instead of dinners, since breakfasts are cheaper and executives can still get a day's work done. - The Observer, 26 June.

More pubs, lower prices move in Ireland

The Irish government plans to liberalise the pub sector in the next few weeks as part of a package of measures to counter rising inflation. Two of the measures under consideration are a reduction in VAT and excise duty on alcohol, since figures just released by the Irish Government show increases in alcohol have accounted for a 0.65% rise in inflation. In addition, the Irish government is considering allowing existing pub licensees to operate more than one outlet, which should both increase the number of pubs in Ireland and drive down prices through increased competition. - The Sunday Business Post, Dublin, 25 June.