At this challenging time we appreciate that owners and operators need information in order to understand their options. Fleurets remain available by email and telephone, and continue to provide all our usual advisory and transactional services, as we work together to support your business’s needs.
Ei approve acquisition by Stonegate
The shareholders of Ei Group have given almost unanimous approval for their £3bn acquisition by Stonegate Pub Company, reports The Morning Advertiser. When complete, Stonegate's estate will increase by 4,000 sites, making them the UK's largest pub owner.
Thornbridge & Co. acquires Leeds site
Thornbridge & Co. has acquired a Leeds unit, The Bankers Cat, in the heart of the city, which will open before Christmas this year. Furthermore, Thornbridge will open a Birmingham site, on Colmore Road, in November. Pub and Bar Magazine reports that the company plans to open 10 pubs in the coming five years, targeting Manchester and Sheffield, which will join their existing York pub, The Market Cat.
Gresham acquires stake in Vinoteca
Private equity firm Gresham House Ventures, who also back Rockfish and Pho, has acquired a minority stake in Vinoteca to support their expansion plans. Propel reports that the five-strong business will open its first unit outside of London in early 2020, located in the Paradise development in Birmingham city centre.
Roxy Ball Room set to open in Birmingham
Leeds-based competitive socialising concept, The Roxy Ball Room, is set to open in Birmingham this year, reports Propel. An application for planning permission for 58-60 Heath Mill Lane in Digbeth is underway. The site will host ping pong, beer pong, pool, tenpin bowling, mini-golf, shuffleboard as well as arcade games.
Mayfair's Wild Honey to be replaced by dim sum concept
A new dim sum concept from Novators Hospitality, led by Tim Mills, former operations director at Pho and head of operations at Paul UK and backed by Misha Zelman, is set to replace Wild Honey in Mayfair. The concept, located on St George Street, is yet to be named, reports Propel, and is intended to open early next year. Wild Honey has been reopened at the Hotel Sofitel London St James.
According to the latest data from STR, the London hotel market saw record levels in RevPAR in August this year. Propel continued that RevPAR increased by 4.5% to £131.39, whilst ADR increased by 4.8% to £151.58.