07/06/2022
Just over seven new pubs opened every week in the second half of 2021, the Campaign for Real Ale (CAMRA) has revealed. Its latest pub closure statistics showed there had been an increase in the number of new pubs being built, or existing buildings being converted into pubs during the latter part of the year - activity described by the campaign group as 'encouraging'. However, CAMRA also warned that 290 pubs closed in 2021 - equating to five per week on average - and said there was 'still a big problem with pub businesses not reopening after the pandemic', advises Big Hospitality.
Pub and hotels group Fuller's has refinanced £193m of debt, which will be used to help support the growth of the business, said Fuller's. The new debt replaces a facility that was due to mature in February next year, advises EG News. It consists of a £90m term loan and a £110m revolving credit facility provided by a syndicate of seven banks.
As part of the government's deregulation to assist licensed premises in England & Wales during the pandemic, all premises that did not have the benefit of an off-sales provision were granted an automatic extension to enable them to make off-sales of alcohol. Pub & Bar reports that the government has announced that this automatic entitlement will end on 30 September 2022. Any licensed business that does not have off-sales permitted by its premises licence or restrictive conditions will therefore need to make an application to vary its licence should it wish to continue to make off-sales after this date.
Nearly half (48%) of night-time businesses are 'barely breaking even', with a further 20.2% losing money. That is according to a survey by the Night-Time Industries Association (NTIA), which asked respondents if their business was still profitable based on the increase of trade cost. Of the 200 businesses surveyed, 53.2% were seeing a 30% increase in operating costs compared to pre-pandemic levels, reports The Caterer. 44.7% were 'unsure' if their business will survive the next 12 months, with an additional 20.8% stating they were 'not confident'. The NTIA also said there was "still some way to go" to see the true impact of cost inflation, with over 53.8% of businesses still to renew energy contracts.
Travelodge has published an update on planned expansion for this year and 2023, which it says represents an investment of approximately £330 million by third party investors, reports Business Traveller. The group is scheduled to open six properties in the UK in 2022, as well as a 397-room flagship Dublin city centre hotel under its franchisee TIFCO. Three of the UK properties will feature Travelodge's recently-unveiled "budget-luxe" design revamp.
Sandbox VR is launching its first UK venue in London this summer. The new immersive experience will also feature a bar operated by the UK's first permanent robotic bartender, the Makr Shakr reports Retail & Leisure International.