31/05/2022
Rooney Anand's investment vehicle RedCat Pub Company has announced the purchase of the Castle of Brecon hotel, bringing the number of pub hotels owned by its subsidiary The Coaching Inn Group to 26. The Coaching Inn group, which was acquired by RedCat in August last year, operates coaching inns in market towns across the UK. The most recent purchase dates back to 1089 and is formed around the Castle of Brecon, advises Morning Advertiser. The firm said its approach is flexible, meaning it can acquire single pub assets up to larger scale businesses and pub companies.
Food and drink sales in Britain's cities are back in growth as workers and visitors return to urban locations, new research has shown. Nine out of Britain's 10 biggest cities recorded higher sales in pubs, bars and restaurants over the four weeks to 7th May compared with the same period in 2019, according to data from CGA and Wireless Social. Bristol tops the list of most vibrant cities, up from position number five, with Manchester, Birmingham and Glasgow also achieving sales growth of more than 8%, reports Big Hospitality.
PGIM Real Estate has launched a joint venture with property developer Madison Cairn to acquire, develop and reposition UK hotels, as demand grows for domestic leisure assets, advises Property Week. The property investor arm of US insurance giant Prudential Financial said it had teamed up with the newly formed division of Cairn Group, which owns and operates 33 branded independent hotels amongst other assets, to focus on the sector, which was showing "strong signs of post-pandemic recovery".
The chancellor has been accused of failing to support businesses after last week's announcement of a £15b package to tackle the cost-of-living crisis focused solely on consumer bills. Operators have told The Caterer they are being forced to cut trading hours and raise prices in the face of spiralling energy bills, with one in ten seeing increases of more than 200%. The British Beer & Pub Association (BBPA) has estimated increased energy prices will add costs of £800m to the sector this year.
Peach Pubs has announced that it has acquired The White Lion in the village of Radford Semele near Leamington Spa reports Pub & Bar. The move is a return to Peach's roots in Warwickshire, as it opened its first pub in the county 20 years ago. It also runs three others in Warwickshire.
Lifestyle brand ELLE has launched ELLE Hospitality, with two upcoming properties in France and Mexico. According to Boutique Hotel, Maison ELLE will feature a collection of boutique hotels located in city centres globally.