14/11/2023 09:58:00
Piano Works will be moving out of its West End site due to Westminster Council's refusal to increase the venue's licensed capacity. The live music venue had applied to the council to roughly double their licensed capacity at the current Leicester Square site from 400 to 700 people, advises The Caterer. The proposal was rejected "despite support from statutory bodies", which made "operating within Westminster untenable due to external cost pressures", Piano Works said. Piano Works has instead secured a site in London's Covent Garden within the Gillian Lynne theatre. It will operate as a residency within a Nightcap venue from 16 November.
Admiral Taverns has increased its EBITDA by over £7m over its last financial year, with the wet-led community operator bucking the trend of rising revenue alongside falling profits, reports Pub & Bar. Group financials for the 52-week period ended 28 May 2023 showed a group turnover of £182m (2022: £154.3m) and EBITDA of £55.8m (2022: £48.4m). Led by CEO Chris Jowsey, Admiral says that over the last 12 months it has made good progress in its strategy to develop and maintain a high-quality estate of successful, individual, wet-led community pubs at the heart of their communities. Its £55.8m EBITDA reflects the group's growth across first half of FY23, with second half impacted by the faltering economy, inflationary pressure and the energy crisis.
Robinsons Brewery and Almond Pubs have jointly invested half a million pounds into the Fletcher's Arms in Manchester, with hopes for more partnerships in the future in the pipeline. Morning Advertiser reports that the pub was closed for 8 weeks as work was carried out to replace the venue's roof and other external repairs including signage, which was organised and funded by Robinson's as per its tenancy agreement, as well as complete a major interior refurbishment, including moving a bar.
In a recent shareholder letter, the CEO of Oakman Group, Peter Borg-Neal, updated on the company's response to sector challenges, improvements in trading and a future liquidity event for shareholders. Borg-Neal commented that "group sales for the last financial year (June 2023) were 8% ahead of the prior year at just under £70m. In addition, like-for-like sales for the core Oakman Inns business were up 4.1%." However, consistent with the wider sector, Oakman's profits for the financial year-ended in June 2023 were impacted by inflation with site EBITDA down from £12.0m to £9.8m, reports Hospitality & Catering News.
Blackpool is more popular than Benidorm for British holidaymakers booking trips away next year as soaring air fares lead people to opt for stayactions, according to accommodation search website Trivago. The Guardian reports that the group's chief executive, Johannes Thomas, said UK hotel bookings in the third and fourth quarters of 2024 are dominated by domestic destinations. "The UK is a very domestic market. Part of that is down to airline tickets, which are significantly more expensive," he said. "Overall across the globe, it's true for the US, Europe and the UK that people are going closer to home. They're travelling shorter distances and choosing to stay shorter periods and that's probably a sign of higher ticket prices."
Liverpool's Lu Ban restaurant has closed its doors after four years of trading, blaming a struggle with rising costs. The Chinese restaurant opened in 2019 and was led by chef Dave Critchley, who appeared on the BBC's Great British Menu. The Caterer advises that a statement posted on Lu Ban's social media channels last week said: "We regret to inform our customers that, after careful consideration, we have made the decision to permanently close Lu Ban restaurant. The closure was not a decision we have taken lightly but was necessary due to a combination of factors. The ongoing cost of living crisis has reduced footfall to what was always a niche concept. This couple with increasing financial pressures of running and utility costs has rendered the business unsustainable."
Minimum service level regulations for rail workers, ambulance staff and border security staff will be laid in parliament to mitigate disruption and ensure vital public services continue if strikes are called, the government announced last Monday, advises Caterer Licensee Hotelier News.