30/04/2024 08:55:00
Albert's Schloss has revealed it will open the doors to its first site in London this July, in what promises to be the brand's largest venue yet. Morning Advertiser says that the Mission Mars-backed business has invested £7m on the Trocadero on Shaftesbury Avenue, creating an Alpine-inspired beer hall, bar and restaurant with live entertainment seven days a week. Set over two floors with a spacious 18,000 sq. ft. and room for over 600 guests, the venue features five bars, a stage for performances and on-site bakery for Bavarian treats. The venue comes as Albert's Schloss triumphed at the MCA Hospitality Awards this March, with a second consecutive win for Best Concept. Since its inception in Manchester in 2015, the business has opened sites in Liverpool and Birmingham, with London to become its fourth venue in the UK.
The US hedge fund behind Travelodge is in talks to buy £40 million of hotels from their landlords as it gears up for a fresh tilt at a sale, reports The Times. GoldenTree Asset Management has created a structure that increases its options to cash out of the budget hotel chain. The moves follow its £210 million purchase of 66 hotels from LXi REIT this year. Travelodge has traditionally opted for an "asset-light" business model that is popular across the hotel sector. Rival Premier Inn has challenged this model, however, owning many of its freeholds.
North-east-based pub management group Blackrose Pubs has secured a partnership deal with build a portfolio of more than 100 pubs across the nation. The deal is part of Blackrose's ambition to become the leading pub management provider in the community and high street pub sector, says Morning Advertiser. It currently has a number of sites in its portfolio, located nationwide across a multitude of areas including Camberley, Cambridge, Harrogate, Kirkstall and St Helens, with more density in the north of the UK. Existing pubs in the estate are undergoing a transformation, aiming to improve the ambiance and enhance the customer experience.
London bar group Maven Leisure is aiming to raise £2m in growth capital to expand in the capital, reports The Caterer. The company said the Growthdeck fundraise would allow it to open new sites in central London, including a landmark sports bar and rooftop bars in two of "the most iconic locations in the capital". Maven currently operates four central London sites, including Wagtail on a rooftop in the City of London and three sports bars. It was founded in 2021 by Ed Martin and the management team of ETM Group, which is behind sites including the Botanist in Sloane Square and has grown from a single site to a business turning over £33m. Maven saw revenue rise to £10.2m and EBITDA increase to £1.4m at the end of the last financial year and said its new venues would drive further growth.
Bespoke Hotels, a collection of over 70 independent hotels across the length of the British Isles, has announced the management of The Green House Hotel in Bournemouth and Cwrt Bleddyn Hotel & Spa in Wales, advises Hospitality & Catering News. The two new hotel acquisitions follows Bespoke Hotels recent announcement of its grand plans for the year ahead, which includes the planned openings of Hotel Gotham Newcastle and Hotel Gotham Bristol, and the opening of Bailiffgate Hotel in Alnwick.
Inflation as measured by the CGA Prestige Foodservice Price Index (FPI) fell below 10% in March for the first time in two years, reports the Restaurant. The 'welcome milestone' for the sector follows the largest month-on-month decline ever recorded by the Index of 1.4%. The softening of inflation has also been seen in the Consumer Price Index (CPI) for food, which indicated only a marginal increase of 0.1% in March. However, the rate in the Foodservice Price Index remains more than double the level of retail, which stands at 4.0% year-on-year.
The UK government and devolved administrations in Scotland, Wales and Northern Ireland have confirmed that Deposit Return Schemes (DRS) will be launched across the UK in October 2027, advises Pub & Bar. Under a DRS, when a person buys a drink they are charged a small refundable deposit.