22/07/2025 09:37:00
Stonegate has bought the remaining stake in Frontier Pubs, its joint venture with Pioneer Hospitality, reports Morning Advertiser. Chaired by Dame Karen Jones, the joint venture was set up in 2016 with Enterprise Inns (EI Group), which was later acquired by Stonegate in 2019. Frontier Pubs now operates 15 sites across London, offering craft beer and sport entertainment as well as its Roman-style pizza offer. The 15 pubs will now operate as part of Stonegate's Pub Partners leased & tenanted division. In its most recent accounts, Frontier Pubs reported revenue of £11.6m for the year to 29 September 2024.
New data has shown that hospitality has been the hardest hit of all sectors in terms of job losses since the budget in October, writes The Caterer. According to the Office for National Statistics, 84,000 hospitality roles have been lost since Rachel Reeves announced an increase in NIC rates from 13.8% to 15%, along with the reduction in the threshold at which employers become liable to £5,000 a year. Hospitality has accounted for 45% of all job losses since the additional business taxes, with UKHospitality estimating an increase of 13,000 jobs lost in a month.
The UK arm of Shake Shack has moved into profit for the year ending 31 December 2024, reports Restaurant Online. Diverse Dining, the UK operator of Shake Shack, reported a pre-tax profit of £1.06m, compared to a £764,000 loss the previous year. Turnover at the burger chain also rose, up from £49m to £51.1m. Gross profit margin improved from 68.1% to 69.4%, and adjusted operating profit before interest, depreciation and tax increased from £0.5m to £3.5m, according to accounts filed at Companies House. In its strategic report Diverse Dining says 'market uncertainty presents both challenges and opportunities' and that it was 'well positioned to enhance resilience and drive growth in the competitive QSR market.'
Britain's domestic holiday rental market is showing no signs of slowing - with luxury accommodation provider We Stay Group reporting a further 40% year-on-year growth. Figures suggest more of us are opting for getaways near home, with bookings at We Stay properties rising steadily each year since Covid travel restrictions eased in 2021. In the first year after lockdown, the company saw guest numbers surge by 227%. But rather than losing momentum, demand has continued to grow: guest numbers soared by a further 39% in 2024, up from a 26% jump in 2023. That's despite the return of low-cost travel to overseas destinations. The preferences of younger customers - particularly Gen Z - are a key contributor, reports Hospitality and Catering News.
Red Oak Taverns has delivered record sales of £23.5m, an increase of 21% year-on-year, advises MCA Insight. The leased & tenanted pub company invested in its estate during 2024, with £2.9m spent on maintenance and capex. During the period the Mark Grunnell-led Company acquired 19 sites for £12.6m, and disposed of nine underperforming assets, as part of an ongoing strategy to optimise its portfolio. The loss for the year before tax was £45k. After a deferred tax movement of £119k, net profit was £75k. a dividend of £200k was paid to a parent company, Red Oak Group Holdings.
The Rad Hotel Group has sold The Carlton Hotel in Prestwick to independent hotelier Henry Fitzsimmons, owner of The Riverside Lodge Hotel in Irvine, for an undisclosed price. The Carlton Hotel has been part of Rad Hotel Group portfolio since 2008. The acquisition, which formally completes next month, marks a new chapter for The Fitzsimmons Group and owner Henry Fitzsimmons as he further invests in Ayrshire hospitality, says Hotel Owner.
Supersonic sales thanks to the Oasis effect: Back-to-back concerts led to a 56% rise in trade, with 811,000 pints sold across Cardiff city over two days, reports Pub & Bar.