25/09/2018
City Pub Group announce 24% sales increase
City Pub Group's unaudited accounts for the 26 weeks ending 1st July have revealed a 24% sales increase, from £16.1m in 2017 to £20m. The Morning Advertiser reports that this is attributed to the heatwave as well as increased trading from the World Cup. Furthermore the accounts revealed an increase in adjusted EBITDA from £2.4m to £3m as well as adjusted profit before tax increasing 73% to £1.6m, profit after tax was £760,000.
Staycity to open new Liverpool aparthotel
Staycity is set to open a 212-apartment aparthotel on the 19th October in Liverpool's Corn Exchange, according to The Caterer. Staycity Group's portfolio spans ten cities across Europe with a total of over 4,500 apartments, both pipeline and operational.
Morgan Stanley announce growth in UK hotel market
As detailed by Morgan Stanley's Global Hotel Revpar Tracker, the UK hotel market saw a 4.9% growth in revpar for the month of August, whilst July saw 5.7% and June 3.6%. Propel Info further reported that August's occupancy also increased by 1.8%, versus 1.4% in July; and room rates increased by 3.0% in comparison to 4.3% in July.
Shepherd Neame acquire three central London sites
Shepherd Neame, the Kent-based brewer and retailer, has acquired three central London pubs: the Cheshire Cheese (in Little Essex Street, Temple), the Savoy Tap (just off The Strand) and the Samuel Pepys (in Stew Lane). Propel published that these acquisitions bring Shepherd Neame's London estate to 36 pubs, and their total portfolio to 322.
EasyHotel plan for Blackpool hotel
EasyHotel has acquired a 999 year lease with intentions of opening a 103-bedroom hotel on Blackpool's promenade, subject to the approval of planning permission. The Caterer reported that the £7.6m project is anticipated to open in 2020/2021.
And Finally...
Liverpool bar El Bandito, operated by Graffiti Spirits Group, has announced a three month residency at Wahaca Liverpool's rooftop, reports Pub and Bar Magazine. Providing mezcal and tequila-based cocktails, the El Bandito rooftop bar will be a zero waste venue and is set to open on 4th October.