11/09/2018
Ei Group considers selling commercial property business
Ei Group has announced in a trading update that they are considering the sale of the commercial property side of their business. The pub company's commercial property estate currently comprises of 376 properties. The Morning Advertiser reports that Rothschild & Co, the financial advisory company, has been appointed to explore "various possible routes to optimise value."
London Cocktail Club to open in Bristol
London Cocktail Club has opened in Bristol, marking the company's first unit outside of London, reports Propel Info. The company acquired the former Manos Liquor Bar in Clifton Triangle through Fleurets in an off market transaction. Marking the company's 10th site, the new Bristol bar takes inspiration from Peter Pan, describing itself as a "twisted ode to Neverland at night".
Junkyard Golf to open in 2019 in Liverpool
The crazy golf and bar concept, Junkyard Golf Club, is set to open in Liverpool ONE in early 2019, marking their fifth site. According to Pub and Bar Magazine, the 17,000 sq ft unit will house three nine-hole themed courses: a dystopian fairground, scrapyard disco and polluted paradise.
Coaching Inn Group announce boost in turnover
Coaching Inn Group, the operator of 15 freehold venues, with a total of 431 bedrooms, has announced a 17% uplift in turnover, for the financial year ending 31st March 2018, an increase of £20m from 2017's £17.1m. This year's turnover is forecast to exceed £24m. Furthermore, Pub and Bar Magazine reported that profit before interest was £506,000 and EBITDA also increased to £2.1m, a 39% uplift.
Delivery market increases
Deliveroo analysis carried out by Morar HPI has found that food delivery is increasing, however is not diminishing the eating out market, reports Propel Info. Over the past six months, the proportion of people ordering delivery food has increased to 36% from 31%, an uplift which is attributed to use of mobile technology; however the eating out proportion has sustained its levels of 60%. The study also found 76% were more likely to dine out after enjoying an online delivery from the restaurant.
And Finally...
Dalata Hotel Group has acquired a 300-year leasehold for an under-development hotel in Aldgate for £91m, from Aldgate Hotel Holdco LLC. Boutique Hotelier reports that Dalata has also acquired the entire issued share capital of Hintergard Limited as part of the transaction. The 212-bedroom hotel, branded the Clayton Hotel Aldgate London, is expected to open towards the end of the year.