28/04/2026 10:22:00
Young's delivered another strong performance in FY26, with total managed house revenue up 4.6% for the 52-week period, alongside an increase of 4.7% in like-for-like sales, reports Pub & Bar. As such, trading for the full year is expected to be in line with management's expectations. Young's says its consistent strategy of operating a premium, well-invested managed pub estate, alongside its extensive hedging programme, leaves it well-positioned to withstand ongoing uncertainty and deliver profitable growth for the year ahead. On the 8 April 2026, Young's announced an agreement to acquire Cubitt House London Pubs, a collection of eight pubs, of which three have bedrooms.
The owner of Betfred has switched his attentions to the hospitality sector with the launch of a new aparthotel brand in Cornwall, writes Boutique Hotelier. Betting entrepreneur Fred Done will open Hidden in St Ives next month, in what is hoped will be the first of a new aparthotel group, spearheaded by property developer Salboy. Done is co-founder of the firm, which is widely known for its contribution to Manchester's skyline, with developments including Viadux off Deansgate and the forthcoming Nobu Manchester. Hidden St Ives will comprise 18 two-bedroom apartments and will launch in May, ahead of a second site in Manchester that will form part of a nationwide expansion for the Hidden brand.
The first quarter of 2026 saw the number of licensed premises drop by 0.3%, according to new research. At the end of March 2026, there were 98,609 outlets, which was 305 fewer than in December 2025, equating to an average of 3.4 net closures a day, according to the latest Hospitality Market Monitor from NIQ, powered by CGA intelligence. In addition, this is a second successive quarter-on-quarter drop and suggests the momentum of closures is starting to build, the insight firm said. This comes after operators were advised to expect increased prices on products such as beer, food and furniture due to rising oil and gas prices as a result of the ongoing unrest in the Middle East last month (March), reports the Morning Advertiser.
Glendola Leisure has said it is continuously trying to manage and mitigate the impact of cost pressures including high interest rates and inflation, writes the Morning Advertiser. The family-owned hospitality operator, whose estate encompasses 17 pubs, bars, restaurants and hotels, including Waxy O'Connor's, reported turnover of £38.5m in its latest financial results for the year ended 29 March 2025. It marks a 2.1% uptick on the £37.6m reported in its 2024 financial year. Operating profit rose from £4.6m to £6.5m over the period, however, adjusted EBITDA fell 15.7% from £6.2m to £5.2m. Despite this, profit before tax increased 52% over the year to £5.7m (2024: £3.8m) as a result of the reversal of impairments of £2.4m.
The Chickpea Group has announced it will open The Great Decoy in the village of Hurstbourne Tarrant in Hampshire next month, reports Boutique Hotelier. Marking the group's 10th opening, the pub - which was formerly known as The George & Dragon - has undergone a sensitive and extensive renovation over the past several months. Downstairs, The Great Decoy will offer space for around 90 covers inside and a further 60 outside in the courtyard garden to the rear.
Last week's Tube strikes have halved pub revenues across London, according to recent data, The Caterer reports. Research conducted by employee experience platform Harri between 20-23 April revealed that total hospitality revenue was down 18% compared to the same period last week. Pubs have been hardest hit by the severe disruption across the London Underground network, losing more than half (54%) of their weekly takings. On Tuesday alone - a strike day - pub revenue fell by 46%, while cafés experienced a 26% drop as more office workers defaulted to working from home. Sales at quick-service restaurants fell by 34%, while casual dining chains reported a 14% decline.
Hospitality operator Shiko Group has appointed Fleurets to support its next phase of growth, writes BE News.