Hickory's opens ninth restaurant
The American-style barbecue and smokehouse concept Hickory's, backed by Piper, has opened its ninth restaurant reports Propel Info. The restaurant is situated in the Cheshire village of Gresty Green, between Nantwich and Crewe. Having opened their first site in Chester in 2010, Hickory's now operates in north west England, North Wales and the West Midlands; with the majority of restaurants housed in former pubs.
Plans to transform former Cambridge police station into hotel
Cambridge's former police and fire station, Hobson House, is set to be transformed into a 57-bedroom hotel, reports Boutqiue Hotelier. Planning permission has been submitted and is awaiting approval. If approved the building's façade, entrance hall, ornate staircase and stain-glass windows will be restored by developers Henley, with plans to open in summer 2020.
Marston's announce strong financial results
For the 52 weeks ending 29th September, like-for-like sales across Marston's 1,545 pubs increased by 0.6%, marking their fifth consecutive year of like-for-like sales growth. Whilst the increase was attributed to both the World Cup and summer heatwave, wet-led operations outperformed food-led pubs, with average profit per pub increasing by 2%. The Morning Advertiser continued that Marston's underlying revenue also exceeded £1.14bn, underlying profit increasing by 4% to £104m.
NewRiver and Hawthorn Leisure's integration progress
NewRiver acquired Hawthorn Leisure, a portfolio of 298 pubs as well as pub management platform, in May 2018 for £106.8m, reflecting a 13.6% net initial yield. With the integration process expected to complete in Q4 FY19, £1.7m of the £3m annualised operating cost synergies has already been unlocked, and Pub and Bar Magazine reports that NewRiver expects to see the benefits in early 2019.
Hotel to replace MEATliquor's original restaurant
The Caterer has announced that MEATliquor will closing its original restaurant in Mayfair, which will be replaced by a nine-storey, 206-bedroom hotel, operated by Shiva Hotels. MEATliquor started in 2008 in a burger van in Peckham. In 2011 the brand moved into their Welbeck Street unit, with the intention of remaining two years, but in fact staying for seven. MEATliquor currently operates 12 sites.
Street food and crazy golf brand Swingers has secured backing from private investment company Cain International. Propel Info reports that the financial backing will fund the launch of a new competitive socialising concept in the UK as well as introduce Swingers to North America. Founded in 2014 by Matt Grech-Smith and Jeremy Simmonds, Swingers currently has two London sites.