10/09/2024 10:01:00
NEOS Hospitality, previously known as Rekom, has announced plans to launch two new party bar concepts to the UK market, with £25m in fresh capital, advises the Morning Advertiser. The new investment will enable the business to actively target acquisitions in prime city centre locations across the UK, prioritising Birmingham, Edinburgh, Glasgow, Leeds, Liverpool, London, Manchester and Newcastle. The two new concepts are Bonnie Rogue's Pub, described as "fiercely confident and always-on live and loud atmospheric" party pub; while Barbara's Bier Haus is an après ski-themed bar "bringing the mountain vibe to the high street."
Hostmore has dropped plans to acquire TGI Fridays. In April this year, the parent company of TGI Fridays in the UK had initially agreed to the proposed all-share acquisition of the American-themed casual dining brand for £177m. The terms of the sale would have valued TGI Fridays at approximately 5.4 times its FY23 underlying earnings before interest, taxes, depreciation and amortisation, which Hostmore said was "highly attractive". However, as a result of TGI Fridays losing control of TGIF Funding, which holds the legal title to the franchise agreement royalties, Hostmore said an acquisition at this stage would "impair the future revenue of the business". It was implied that both parties remain open to re-engaging discussions "if circumstances warrant", advises The Caterer.
Radisson Hotel Group has rebranded its midscale lifestyle brand prizeotel to Prize by Radisson, ahead of the brand's expansion into the UK market. The first prizeotel property opened in 2009 in Germany and today boasts 21 properties in operation and under development across Europe, reports Boutique Hotelier. The brand, billed as a 'smart lifestyle hotel' with affordable bedrooms, operates sites in locations including Hamburg, Munich, Antwerp and Vienna. The first prizeotel in the UK and Ireland market is set to open in Dublin in early 2025, comprising 145 bedrooms and a restaurant and bar. Further UK and Ireland locations for the brand are expected to be announced imminently.s, outgoing chairman Stephen Goodyear said.
Little-known Si Advisers to acquire more than 40 Ivy Collection restaurants. Richard Caring and fellow shareholders are reportedly close to selling the Ivy chain of restaurants for £1bn to a little-known private equity group. The chain of more than 40 restaurants in the UK is poised to be bought by Si Advisers within weeks, according to Sky News. The reported deal, which would end Caring's relationship with the chain after almost 20 years, would not include the high-profile entrepreneur's other restaurants, including Scott's, Sexy Fish and J Sheekey, or clubs such as Annabel's and Mark's Club.
Inception Group, London operator of 15 immersive bars across the capital has confirmed its second site under the brand 'Cahoots'. The group announced it will launch Cahoots: Postal Office inside an old railway arch within the Borough Yards development on the edge of Borough Market, having taken the lease in June 2023. Modelled on a vintage post office, the new opening aims to transport guests back to 1946, where The Cahoots Scoundrels have commandeered the mail depot. It's the second in the Cahoots portfolio, following the opening of its Ticket Hall Boozer in Soho in June, says Pub and Bar.
Lina Stores is the latest London-based restaurant group to announce that it is heading to Manchester. The Italian restaurant, delicatessen and bar will open on Quay Street in the city I the spring of 2025, 80 years since the original Italian delicatessen opened its doors on Soho's Brewer Street. It will be the London-based brand's first regional UK opening outside of London and marks a continued expansion for the group, which has opened a number of sites in the capital over the past few years. It will open its eight venue in Shoreditch later this month having recently opened a site on South Kensington's Exhibition Road, reports the Restaurant. The brand also operates three venues in Japan.
Guinness owner Diageo has announced its zero-alcohol variant will be available at a select number of pubs in Great Britain after successful trials in London sites such as the George and the Devonshire, reports the Morning Advertiser...