03/04/2024 11:45:00
RedCat Pub Company is to put part of its business into administration, while a further 14 sites are to be put up for sale. The Caterer says that the pub group, headed by former Greene King chief executive Rooney Anand, has grown to more than 100 sites since it was founded in 2021. It has appointed administrators to RedCat Leased Pubs, a subsidiary of 10 leasehold pubs. It has also put 14 sites within its managed division up for sale. Richard Lewis, who was appointed chief executive last year, said: "Some difficult but decisive actions have had to be made to position the business for future success. It is never easy to say goodbye to some fabulous teams - I am grateful to each one of our employees."
A Wiltshire-based pub group continues to grow at pace, following the announcement of a seventh site acquisition. Chickpea Group, led by Tommy Tullis and brother and sister Jordan and Ethan Davids, has taken on The Manor House in the village of Ditcheat near Bruton, advises Pub & Bar. The pub will be the group's first in the county of Somerset and its seventh opening in four years. The pub has been closed for the past six months, with Chickpea now beginning a two-month refit and refurbishment. On reopening, there will be seven bedrooms upstairs, a Chickpea pub menu inside and a separate pizza kitchen.
Revolution Bars Group says it is 'actively exploring all strategic options available' following press speculation that it is in talks about a sale. In a statement the group, which operates 58 bars and 22 pubs under the Revolution, Revolución de Cuba, and Peach Pubs brand, said options included a sale of all or part of the group and any other avenue to maximise returns for stakeholders and improve its future prospects. The Restaurant reports that it also said it was engaging with key shareholders and other investors, including Luke Johnson, in respect of a fundraising. The statement follows a Sky News story, published on 25th March, that claimed the group is planning to close a quarter of its worst performing venues and put itself up for sale.
Demand in the UK hotels sector started to pick up in February, boosted by half-term holiday staycations, according to the RSM Hotels Tracker. The data, which is compiled and produced by Hotstats and analysed by RSM UK, shows occupancy jumped to 71.4% in the UK and 73.2% in London last month; up from 68% and 68.2% respectively in February 2022, and exceeding pre-pandemic levels of 70.4% (UK) and 70.5% (London). Caterer Licensee Hotelier News reports that the average daily rates (ADR) of occupied rooms increased slightly to £127.19 in the UK and £188.15 in London last month. While largely in line with the room rates in February 2022, they are up significantly from pre-pandemic rates of £107.98 (UK) and £169.10 (London). RevPAR of UK hotels increased £6.03 to £90.8 year-on-year in February and rose by £8.65 to £137.69 for London hotels.
The number of night-time economy (NTE) businesses in the UK has dropped by a "staggering" 15.5%, new research from Night-Time Industries Association (NTIA) has revealed. Data from the NITA's latest NTE Tracker, supported by CGA Neilson, showed nightclubs faced "unprecedented challenges" between March 2020 and December 2023, resulting in closures and revenue losses at an "alarming rate". Morning Advertiser says that the report detailed there has been a 32% decrease in the total number of nightclubs during this period, with a 15.5% drop in overall NTE businesses, from 102,860 in March 2020 to 89,067 in December 2023.
Northern bar group Escapism Bars is planning to roll out its Mean-Eyed Cat concept in three new cities. With three venues already established in Leeds, Liverpool and Manchester, Escapism is looking to Sheffield, Birmingham and Nottingham to launch venues in 2024 and beyond, reports Pub & Bar. The group says its deep south dive bar concept has had recent success due promotional incentives that appeal to younger drinkers. The venues operate a free 'no catch' pizza offer alongside a 'roll the dice' initiative, where customers can get discounts or even a free round of drinks if they roll a six.
The news the owners of the Crooked House in Himley, West Midlands have appealed against South Staffordshire Council's order to rebuild the pub has been labelled "concerning albeit fully expected", reports Morning Advertiser.