Latest / Hospitality News Briefing / Tuesday 29 September: Boom Battle Bar returns home in £11m buyback as We Do Play eyes 100-site estate
Transcript
- Good morning. This is the Hospitality News Briefing, from Ops Club. Episode eight, Tuesday the twenty ninth of September. Here is what the UK trade press reported this morning, collated for operators. We Do Play has acquired Boom Battle Bar from X P Factory, while Amber Taverns targets London expansion and Welsh councils scrap tourism tax plans after industry backlash. Starting with trading, Mitchells and Butlers has reported two point one per cent growth in its latest trading period. As The Caterer reports, the pub giant recorded that rise in like for like sales across its estate. This sustained growth suggests a resilient appetite for managed pubs despite the squeeze on household budgets, though the focus remains on managing the cost base to protect margins. Elsewhere, Congham Hotels has hit record revenue of four point nine million pounds. Propel has the numbers showing that the Norfolk operator returned to profit as turnover growth outpaced sharp rises in labour and supply costs. On to who is buying what, and a major move in the leisure sector. Propel reports that We Do Play founder Richard Beese has bought back Boom Battle Bar for eleven million pounds to lead a new leisure push. He has reacquired the twenty nine site brand from X P Factory five years after selling it for seventeen point three eight million pounds. The move is part of a plan to build a one hundred site experiential group featuring dual branded ecosystems and franchise rollouts. Also in Propel, Amber Taverns is targeting London for the first time with an opening in Bromley, and Roger Wade's BoxKitchen is launching a one million pound fundraise for its modular units at a nine million pound valuation. Two more acquisitions to note: Punch Pubs has added The James Tassie in Glasgow to its portfolio for a full refurbishment, and The Caterer reports that Village Hotel Club has expanded with a three property acquisition, signaling continued consolidation in the regional hotel market. Looking at new openings, Individual Restaurants is branching out into the pub sector with a new flagship project in Central London according to The Caterer. Propel reports three more heading for the capital: Nancy Spains has confirmed a Covent Garden flagship for December, the Lebanese chain Malak Al Tawouk is scouting London for its first chicken sandwich site, and the barbecue brand Big Easy has secured its first North West site in Manchester spinningfields. A few moves to note next. Chickpea Group has appointed Laine co-founder Gavin George as chair. As reported by Propel, he led Laine Pub Company for twenty eight years and his expertise will be used to help the ten strong rural hospitality business scale. Over at Hospitality Action, Mark Lewis is to exit as C E O after eight years, a period where The Caterer notes support for workers reached record levels. Also in the news, BrewDog has hired senior directors from Tilray and Monster Energy to drive global strategy, and the Waldorf Hilton London has named a new general manager for its Aldwych landmark. Turning to the numbers behind the numbers, hospitality spending is rising as consumer confidence shows signs of recovery. The Caterer reports that while the cost of living crisis remains, the uptick suggests diners are prioritising hospitality experiences when they do spend. However, operators are being warned to stay highly vigilant as persistently high foodservice price inflation continues to pressure P and Ls. Finally, some policy news from the regions. Propel reports that Welsh councils have abandoned holiday tax plans after mass opposition. Anglesey, Gwynedd, and Conwy have scrapped or paused plans for a tourism levy after up to eighty four per cent of businesses and visitors voiced their opposition. U K Hospitality called the move a wake up call to government. Meanwhile, the Scottish government has backed the campaign for a ten per cent hospitality V A T rate, with the Deputy First Minister formally urging the U K government to include the reduction in the next Budget. Three things to think about before you get on with the day. If Amber Taverns can make three pound pints work in London, what does that mean for your own value perception and pricing floor? With experiential ecosystems of two hundred thousand square feet planned, are you looking at ways to layer multiple revenue streams - like leisure, retail, or workspace - into your own larger sites? Welsh councils U-turned on holiday taxes due to business pressure - are you actively engaged with your local authority on how their policies affect your site's viability? The full rundown is at ops dash club dot com, where every story links back to the publication that reported it. Today's pulled from The Caterer and Propel Hospitality Info - a signpost to their reporting, not a replacement for it. Scripted and read by AI and published without a human check, so check the original before you act on anything. For longer conversations with the people running the sector, find the Hospitality Ops Club podcast. That is your briefing. Have a great day.