Finance
Revolution Bars to close 18 sites under proposed restructuring plans
Revolution Bars has announced plans to restructure the business through an emergency fundraising backed by Luke Johnson and the launch of a formal sale process.
Native and Sarap backed by new £50m hospitality investment fund
Restaurant brands Native and Budgie Montoya’s Apoy and Sarap are among the first concepts to be backed by a new £50m hospitality investment fund.
Travelodge revenue exceeds £1b ‘for the first time’
Gary Neville’s Hotel Football reports record turnover
Accor breaks €1b EBITDA mark with record full-year results for 2023
Salt Bae restaurant reports 44% profit boost
Soho House hits back after damning GlassHouse research report
Soho House has released a statement rejecting a report published by GlassHouse Research last week that[...]
Hospitality accounted for 12% of UK administrations in 2023
Hospitality administrations increased 22% last year compared to 2022, according to new data.
Viewpoint: Who can afford a weekend away during a cost of living crisis?
As interest rates rise, it’s the savers with a pension in the bank who are cashing[...]
London hotels report ‘significant performance’ over Christmas
London hotels hit their highest occupancy levels “for any December since 2018” during the holiday season,[...]
Mixed fortunes for Donald Trump's Scottish resorts
A Scottish hotel and golf course owned by Donald Trump has made a profit for the first time since it was bought by his family nearly 10 years ago."
Restaurant sector dealing with £3b in debt, research shows
The debt burden of the UK’s top 30 restaurant groups, including Loungers and Gordon Ramsay Restaurants, has exceeded £3b for the first time, according to a national accountancy group.
Whitbread reports ‘impressive’ H1 for Premier Inn
Premier Inn has revealed it has plans to grow its pipeline to 125,000 rooms across the UK and Ireland after an “impressive first-half performance”.
£60m sale of D&D London to new investors 'imminent'
Restaurant group D&D London is to be sold to two new investors in a deal that[...]
Wimpy owner issues profit warning
Wimpy owner Famous Brands has issued a profit warning, saying basic earnings per share (BEPS) may[...]
Wetherspoons returns to profit as like-for-like sales increase by 13%
JD Wetherspoon has reported profit before tax of £42.6m having seen like-for-like sales rise 12.7% in[...]
Charlie McVeigh: Trend for experiential venues may not be as 'durable' as expected
Hospitality sector investor Charlie McVeigh has said the trend for experiential venues is “not going to[...]
Brighton Pier Group reports ‘lower than expected’ sales
Brighton Pier Group has announced a decline in total revenues due to “ongoing inflationary pressures” in its unaudited results for the six months ending 25 June 2023."
Comptoir Group reports decline in profit
Comptoir Group has reported that its profits have taken a hit from the macroeconomic pressures facing the industry, but points to hope of improved performance towards the end of the year as utilities costs decline and inflation begins to plateau.
Viewpoint: What’s whetting investors’ appetites?
Tough times haven’t put all investors off businesses in the hospitality sector. Claire Madden explains what the interested are looking for
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