15/10/2024 10:24:00
Revolution Bars Group has changed its name to the Revel Collective as it begins to reposition the business after its recent restructuring says The Caterer. The operator of 60 pubs and bars, which includes Peach Pubs and Founders & Co, launched a formal sale process in April alongside a restructuring plan that included raising £12.5m. After talks with Nightcap over a deal failed, it pursued its restructuring plan which included closing some 25 bars. Revel Collective chief executive Rob Pitcher said that the name change signalled a fresh start for the business.
Loungers has said it delivered "like for like sales growth" of 4.7 per cent, amid a string of new hospitality openings boosting its portfolio, reports City AM. The Cosy Club, Loungers and Brightside chains owner recorded revenue of £178.3m in the half year to 6 October, up by 19.2 per cent on the previous year. It opened 17 new sites during the period, bringing the total to 273 venues, including the new Ritorno Lounge in Bristol, which saw the strongest start for a site in the group's 22-year history. While a further 18 sites are set to open in the second half of the financial year, the firm said, after a roll out of 36 new sites in the previous financial year.
TGI Fridays' UK franchise has been acquired by Breal Capital and Calveton in a deal that will save at least 51 of the American bar and restaurant brand's sites says Restaurant Online. The deal, which was reported to be on the verge of completion over the weekend announced today (7 October), should secure the future of more than 2,000 jobs across those restaurants. However, a further 36 TGI sites face closure with around 1,000 jobs at risk. Reports, late last month revealed that Breal and Calveton was in advanced negotiations to take on TGI Fridays' UK franchise after the collapse of its previous owner, Hostmore.
Manchester will soon be home to the 'biggest happy hour' in the area, as the bar brand Simmons gets ready to open in Deansgate advises Pub & Bar. Known for its eclectic decor and signature affordable drinks deals, Simmons' latest venue is taking over the former Botanist site in the centre of the city, with the bar brand saying it's the biggest opening it has done so far. Opening on 24 October, the venue is launching with a series of free bar parties. The site will feature DJs, live music, two bookable karaoke rooms, free entry every night of the week and trademark happy hours.
New research from Expedia Group has found that 64% of Asian visitors to the UK plan to stay in a luxury hotel during their trip reports Boutique Hotelier. The study highlighting the preferences of the growing Asian middle class, expected to reach 3.5 billion people and make up two-thirds of the world's middle class by 2030. The research found that 64% of mass-affluent Asian travellers (meaning middle-upper income) who plan to visit the U.K. say they are going to book or request a four- or five-star hotel on their next international trip.
Employment law specialists have advised the pub sector to review their employment practices now, so they are ready to implement changes when the Employment Rights Bill comes into force, reports the Morning Advertiser. Changes suggest under the bill, which was introduced into parliament 10th October, are not expected to be made law until 2026. The measures, designed to tackle poor work practices suggests 28 reforms to employment practices, including sick pay, abolishment of zero hours contracts and establishing day one right for paternity, parental and bereavement leave for millions of workers. The Government says the changes are designed to aid staff retention and help the economy to grow.
Boxpark has received planning permission for its new Birmingham site, reports Pub & Bar. The group signed a 15-year lease in the Floodgate Street Arches, with the opening set for next year and a £5m investment expected to create around 200 jobs.