Beds and Bars plan to invest £7.5m in FY20
The pan-European hostel operator, Beds and Bars, is planning to invest £7.5m into its existing sites as well as acquisitions in FY20 reports Propel. Furthermore, the company reports an 8% increase in turnover to £52.5m for the year ending 30th March as well as a group EBITDA increase of 29% to £7.2m.
Prospect Pubs & Bars launched by Redcomb founders
The founders of Redcomb Pubs, Mark Draper and Dan Shotton, have launched Prospect Pubs & Bars, having acquired The Evenlode in Oxfordshire for £1.75m. Pub and Bar Magazine reports that the acquisition follows the sale of the entire Redcomb estate earlier this year, in which 15 pubs were sold to Young's & Co Brewery for £34m. The duo intend to create a group of premium, yet accessible to all, pubs and pubs with rooms; with acquisitions focussing on large properties with free of tie leases or freeholds that offer opportunities for further development and extension.
Dakota Hotels to expand across UK
Dakota Hotels, who currently operate across northern England and Scotland, has announced plans for rapid UK expansion over the coming years. The Caterer reports that target locations include Central London, Cardiff and Edinburgh as well as Birmingham, Manchester Airport, the M4-corridor, Newcastle, Oxford, Cambridge, Bristol and Brighton.
Hubbox expands to Wales
Hubbox, the American-inspired casual dining concept is set to launch its first restaurant outside of south-west England in Cardiff. Marking Hubbox's eighth outlet, the 3,000 sq ft Cardiff unit is located in Mermaid Quay, reports The Caterer.
PPHE is set to join FTSE 250
PPHE Hotel Group will join the FTSE 250 from the 24th June reports The Caterer. PPHE's portfolio includes 9 Park Plaza-branded hotels in London, Cardiff, Leeds and Nottingham; 2 art'otel properties in Battersea and Hoxton, which are currently under development with the latter due to open in 2023 as well as the group's first boutique hotel, under the Holmes brand which opened in Marylebone last month.
Big Mamma, the Paris-based Italian restaurant brand is set to open its second London site this month reports Propel. Following the launch of Gloria in Shoreditch which opened in February, the company will now open Circolo Popolare on Rathbone Square in Fitzrovia on Wednesday 26th June.