13/02/2024 09:23:00
The team behind a Wiltshire-based pub company have acquired The Market Inn in Salisbury's historic market square, reports Pub & Bar. In what will be the Chickpea Group's seventh pub, The Market Inn will be a departure from its typical rural pub with rooms formula. The new venture is set to launch a new line in 'boozers' focusing on food and drink. Dating back to 1904, the pub will have 60 covers inside and a further 80 outside. As with the groups' existing sites, the food offering will be of great importance, with the menu overseen by executive chef Harry Russell, with the aim of providing a pared back menu of 'classic pub bangers'.
London-based multiple operator Urban Pubs & Bars is now looking to expand outside of the capital, as the company reaches its 10th anniversary. The group was founded in 2014 by ex-Realpubs founders Nick Pring and Malcolm Heap and has grown over the past decade to its now 42 site estate, says the Morning Advertiser. The business recently reported an uplift in sales and turnover in its latest trading update, before alluding to plans for further growth.
The Everly Hotels Collection will launch early this summer near Brighton as the latest hotel offering from Greene King. Boutique Hotel News says that the White Horses in Rottingdean, near Brighton, will mark the debut of the Everly Hotels Collection. Vincent Madden, managing director of the Everly Hotels Collection, said: "There's a real opportunity in the leisure market to provide affordable luxury, in a premium part of the sector we haven't explored before. Each Everly hotel will offer a completely unique experience to our guests. Our ambition is to grow a portfolio of bespoke, upscale, boutique hotels across the UK."
The Oakman Group has revealed it is demerging its interest in Seafood Pub Company. The Restaurant reports that in a trading update, Oakman confirmed that the 10-strong Seafood Pub Company, which it acquired out of administration in March 2021, will move forward under the sole ownership and direction of Dermot King, Oakman's former CEO. Seafood Pub Company fell into administration in the summer of 2020 after failing to secure funding to help support it through the first Covid-19 lockdown. Following the demerger, Oakman's estate will comprise 33 operating sites with a further five in the pipeline.
JD Wetherspoon has raised prices across its bar and food menus to counter a hike in costs, advises The Caterer. The pub giant, which runs 814 sites, said the average price increase across its products was 3%. Wetherspoon said in a statement: "Most prices in Wetherspoon pubs have increased by 3.95% from Thursday, 1 February 2024. Some prices have increased by less. Ruddles Bitter has increased by 1%. Bud Light lager, Stowford Press Cider and Doom Bar bitter have increased by 2%. Draught Pepsi has not increased. The average increase, across all bar and food products is 3%." Chairman Tim Martin used the group's January trading update to rally against a disparity in costs hitting pubs and supermarkets.
Leisure operator Big Fang Collective is looking to expand across the UK after it secured £5.5m in growth capital from private banking firm ThinCats, say the Morning Advertiser. The brand was founded by Kip Piper and Dan Bolger eight years ago has gone from its original Ghetto Golf site in Cains Brewery, Liverpool to its now half a dozen-strong estate. Its proposition now brings together multiple concepts in one place including in-house pizzeria Nothing Cheezy and Big Fang Karaoke. Following the multi-million pound funding from ThinCats, Big Fang is set to target sites across the nation with a number of new venues already in planning.
The UK restaurant market exhibited resilience in 2023, reaching a valuation of £18.6 billion despite economic challenges marked by high inflation, the industry experienced a commendable growth rate of +4.4% during the same period, according to the latest insights from Lumina Intelligence's Operator Data Index. The report highlights that the overall eating out market achieved a slightly higher growth rate of +5.8%, indicating that restaurant closures and restricted consumer spending have posed challenges for further market expansion. Caterer Licensee Hotelier News says that notably, branded restaurants emerged as a success story in 2023, achieving a remarkable turnover growth of +7.7%.
Pub in the Park, the pub food and music festival curated by chef Tom Kerridge, has revealed the first wave of chef hosts and venues appearing on its 2024 circuit, reports Pub & Bar.