29/08/2017
Brakspear's turnover increased by 14%, according to latest figures
The Henley-based brewer and pub operator's turnover increased by 14% in 2016, to £25.5m. Eat Out Magazine further reported that Brakspear's EBITDA also improved by 1% to £8.3m. Brakspear attributed part of the increase in profit before tax to the sale of three sites, two of which were already closed and another which was sold to a local community group. Sales grew in the managed division from £3.1m to £8.8m.
The Chestnut Group expands East Anglia portfolio
According to The Caterer, The Chestnut Group have acquired the leasehold for the Black Lion Hotel in Long Melford, Suffolk. Since the purchase the 10 bedroom hotel, pub and restaurant has closed for refurbishment. This acquisition marks the group's sixth pub site which includes:- the Rupert Brooke in Cambridge, White Horse in Easton, near Framlington, the Northgate in Bury St Edmunds as well as the Packhorse Inn and Blackbirds Inn, both near Newmarket. The group intends to acquire 10 pub sites by 2018.
The Anchor in Hullbridge marks 20th site for Oakman Inns
Pub and Bar magazine have reported that Oakman Inns has opened its 20th site, The Anchor in Hullbridge. The site was purchased in an off market transaction and Peter Borg-Neal, CEO of Oakman Inns and Restaurants, commented: "This is a superb pub and a very exciting addition to the Oakman Inns group. We look forward to working closely with the very talented team at The Anchor." Furthermore, Oakman Inns are currently investing £1.8m into the development of The Cherry Tree in Olney, which will reopen in early 2018. A major development is also in the pipeline for The Royal Foresters in Ascot.
Marco-Pierre White expands chophouse in Whitechapel
Mr White's English Chophouse is set to open in East London's Whitechapel. Paul Charity at Propel Info has reported that the concept, owned by celebrity chef Marco-Pierre White, will open as part of a boutique hotel in a former textiles factory. The restaurant is set to open on New Road in October.
The Alchemist focuses on London expansion
Propel Info has reported that The Alchemist is focussing on expansion in London, with potential for 15 sites across the capital. The group has further plans to grow its estate to 50 sites across the UK. The Palatine Private Equity backed company has ten sites currently, with another five venues scheduled to be launched in April 2018: Media City, Cardiff, Oxford, Nottingham as well as Bristol. The Alchemist's managing director Simon Potts commented that they intend to open five sites every year and London is a target location.
And Finally...
The British leisure and hotels industry is set to achieve a record year according to new research from Barclays Corporate Banking report, Destination UK: driving growth in the UK hospitality and leisure sector, and as reported by Boutique Hotelier. 2017 has seen international interests rise by 63% as well as an increase in UK holidays. Of the 63% international holidaymakers, only 31% attributed their destination preference to the weakened UK pound.