14/06/2022
Britain's biggest holiday parks operator has pressed pause on a £1.6bn sale amid growing concerns about the near-term prospects for the UK economy. Sky News reports that Parkdean Resorts has called off talks with prospective buyers after an auction lasting more than six months. The decision by Parkdean and Onex Corporation provides one of the first signals about the worries of a UK recession and its implications for consumer spending is feeding through into corporate transactions.
Revolution Bars group has ploughed £3.5m into its new Exeter, Devon and Preston, Lancashire venues - its first openings since the start of the pandemic advises Morning Advertiser. The two sites take the Group's total number of sites to 69 with Revolution now accounting for 49 of those.
Analysis by CGA and Prestige Purchasing suggests volatility in supply and costs is likely to fuel high food and drink prices until at least 2023, reports Big Hospitality. The report predicts that further rises in inflation are possible in 2022, and that the rate is unlikely to fall below 7% until next year at the earliest.
City of York Council has approved plans for an 82-bedroom, city-centre hotel that developer and investor Helmsley Group said would be one of the first in the UK to generate net-zero greenhouse gas emissions, reports Property Week. The building will be a net-zero carbon development, with a BREEAM target rating of Excellent, meaning "the greenest alternatives to traditional construction will be used and carbon output from construction will be minimised, and where it can't be, will be offset", said the firm.
City Pub Group has said it was boosted by a "particularly strong" Jubilee weekend as sales rebounded beyond expectations, reports the Independent. The company, which runs 42 pubs saw shares improve after it revealed that like-for-like sales increased by 5% in May compared with pre-pandemic levels, surpassing targets. The hospitality firm added that it has reviewed its cost base as it seeks to mitigate the impact of soaring cost inflation.
Big Table Group, which also owns Café Rouge and Las Iguanas, is testing out a robot to help with table service. The BellaBot can deliver and retrieve plates from tables with help from humans reports The Guardian.