06/03/2018
Strong February trading for wet-led operators
According to S4Labour, wet-led businesses performed best, as February saw on average a 0.2% increase in like-for-like sales when compared with 2017. Reported by Propel Info, this increase was primarily driven by wet-led operations, and an average uplift of 4.8% was recorded across their sites. This sales data was collated from over 100 businesses who use S4Labour, which indicated that, irrespective of severe weather conditions, trading was strong for many operators in February. However, food-led operations saw an average decrease of 0.6% in sales.
Seven Hilton Hotels acquired by Starwood Capital
An affiliate of Starwood Capital Group's Starwood Global Opportunity Fund XI has acquired seven Hilton assets from Park Hotels & Resorts for £135m. The seven properties are located in London, Bath, Milton Keynes, Blackpool, Belfast, Edinburgh as well as Aviemore. According to The Caterer, the hotels will be managed by Kew Green Hotels, who operate in excess of 50 hotels across the UK. The portfolio is under a franchise agreement with Hilton and Starwood intends to refurbish several of the properties.
Sixth bar for Darwin & Wallace
Eat Out Magazine has reported that Darwin & Wallace, the independent bar group, is set to open its sixth venue this spring. The new bar will be located at 601 Queen's Road in Wimbledon offering a 'modern interpretation of a 21st century pub'.
New Regent Street restaurant for San Carlo Group
The San Carlo group is set to open a new 130-cover restaurant on London's Regent Street in May, according to The Caterer. Lead by Alberico Penati, the new restaurant will serve fine-dining Italian cuisine. Founded in 1992, San Carlo is a 20-strong group, worth £60m, with restaurants across the UK as well as one in Qatar and another in Bagkok.
Former Oddworld sites acquired by Manchester operators
Propel Info reports that Adam Regan and Matt Nickson have joined forces to take over two sites which were previously operated by Oddworld, which went into administration in January. Odd Bar, situated on Thomas Street, will reopen as Folk & Soul, a vegan restaurant and music venue. The second site will replace Oddest with The Mash Tun, a real ale bar.
And finally...
Fleurets has retained their title of EGi's Most Active Agent in the Leisure & Hotel sectors for 2017. Furthermore, the specialist leisure property firm also came first for seven out of the 12 regions, including: East of England, East Midlands, West Midlands, North West, South East (excluding London), Wales as well as Yorkshire.