Marathon buys 17 IHG-branded hotels
MCAP Global Finance, a UK affiliate of New York-based investment manager Marathon Asset Management, has bought 17 IHG Hotels & Resorts-branded hotels from Cerberus Capital Management for an undisclosed sum, according to The Caterer.
Marston's premium arm leads recovery with £500,000 refurbishment project
Revere Pub Company - the premium arm of Marston's - is set to expand its portfolio with the launch of Hartford Hall in Northwich, Cheshire next month. The pub has undergone a £500,000 refurbishment and become part of the now 16-strong Revere Pub Company group, The Food Service Equipment Journal has reported.
Robinsons Brewery continues portfolio investment
The Insider Media claims that Robinsons Brewery has continued to invest in its North West and North Wales pub portfolio. Since the beginning of the pandemic, the company has spent heavily on its improvement programme. William Robinson, managing director of the pub division, said: "Investment, licensee support and training have been key drivers over the last year in particular. We have invested a large amount of capital expenditure and completed just over 20 pub refurbishments."
A quarter of Britain's licensed premises still to reopen after lockdown
The Caterer advise that a quarter of Britain's licensed premises still to reopen after lockdown. One in four (23.7%) of Britain's restaurants, pubs, bars and other licensed premises have yet to reopen despite the return of inside service, new Market Recovery Monitor research from CGA and AlixPartners reveals. The snapshot data found just under 25,000 venues are still shut, with similar trading numbers in England (76.6%) and Scotland (77.4%), but a notably slower return in Wales (69.6%).
Restaurants will toast a summer of takeover deals as sales rebound
The Daily Mail on Sunday report that hospitality bosses and investment bankers are predicting a takeover deals bonanza this summer as pub and restaurant sales rebound sharply after the pandemic. Mike Saul, head of hospitality and leisure at Barclays Corporate Banking, said he has around two dozen potential deals on the table, ranging from £10 million to £250 million, as investors race to inject millions into pandemic survivors set for rapid growth - or buy them outright. He said: 'There is a general acquisitive atmosphere out there. Some people really want to try to grow quite quickly - they see opportunity coming out of recession.'
Holiday park operator eyes up further locations after £100m funding boost
Lifestyle Homes Group, the holiday park operator, has secured a £100m lending facility to expand its portfolio and even snapped up five parks across England for £15.5m recently. The Manchester-headquartered group is planning six further park acquisitions within the coming months with the aim of building a £250m portfolio within five years, The Business Desk has reported.
The Hoxton to open five new European hotels
According to Boutique Hotel News, The Hoxton - the hotel brand owned by investment company Ennismore Capital - is to open five new European hotels, including one in its home city of London. The company will open sites in Barcelona, Berlin, Brussels, Vienna and in London's Shepherd's Bush during the course of 2022 and 2023.
According to the BBC, restaurants say plans to display the calorie content of food on menus in England should be delayed while the sector recovers from the pandemic. There are fears that the move will add extra costs to businesses at a time when they are least able to afford it. The new rules will affect restaurants, cafes and takeaways employing more than 250 people and are due to come in from April 2022.