Finance

Property market set to be dynamic in 2024

11-Jan-2024 By Nikkie Thatcher

An increased level of activity in the property market signalled the potential of a dynamic market in 2024, a new report has revealed.

Xmas trade better than expected for 50% of pubs

11-Jan-2024 By Amelie Maurice-Jones

Half (50%) of operators say trade was better than expected over the festive season, according to a recent snap poll by The Morning Advertiser.

Fears Stonegate sites at risk as TDR looks to refinance £2.5bn debt

11-Jan-2024 By Rebecca Weller

More than 650 Stonegate pubs could be put at risk as its parent company seeks to refinance £2.5bn worth of debt, though the firm claims it is “well-placed” to deliver on its long-term objectives.

Black Sheep receives £1m to turn brewery into ‘centre of excellence’

11-Jan-2024 By Gary Lloyd

Black Sheep Brewery will receive a bumper £1m investment to turn its brewery into a “centre for brewing excellence”.

Nightcap’s Willingham ‘could not be prouder’ after record Xmas

10-Jan-2024 By Gary Lloyd

Nightcap has reported record trading for the Christmas period in an update to the end of 2023.

Red Oak acquires further four pubs from Marston's

09-Jan-2024 By Rebecca Weller

Red Oak Taverns has begun its 2024 acquisition programme by adding a further four pubs to its portfolio from Marston's Pub Company.

Festive parties push spending up by almost 8%

09-Jan-2024 By Nikkie Thatcher

Consumer spending at pubs, bars and clubs was up by 7.9% in December, thanks to Christmas parties and gatherings, research has found.

Food inflation fell to 15% in November

09-Jan-2024 By Amelie Maurice-Jones

Food Inflation as measured by the CGA Prestige Foodservice Price Index (FPI) fell again during the month of November to 15.0% - its lowest level since July 2022.

NTIA poll reveals ‘fragility’ of night time economy

08-Jan-2024 By Amelie Maurice-Jones

One trade body has called for government intervention to support the night time economy after its research shed light on the instability of the sector.

JDW sets new Euston Station pub opening date

08-Jan-2024 By Gary Lloyd

JD Wetherspoon (JDW) is to open its new pub near Euston Station on Tuesday 9 January, which will create 55 new jobs.

Pubs urged to strike energy deals while costs are low

05-Jan-2024 By Gary Lloyd

Pubs should lock in price deals on energy as commodity costs continue to reduce and are 60% lower than a year ago.

The surge in applications to run a pub

05-Jan-2024 By Gary Lloyd

“New year, new me.” So often the cry of someone who managed to survive the previous 365 days despite facing hammer blows all the way with the intention of reversing such misfortunes in the time it will take for the Earth to revolve around the sun again.

Review of the Week

'We need to go to war on VAT'

05-Jan-2024 By Ed Bedington

The MA's Ed Bedington met up with Oakman Group's Peter Borg-Neal to get his take on the week's news, from a knighthood for Sir Tim through to closures and Christmas trade.

Revolution Xmas lfl sales up 9% but eight sites to shut

05-Jan-2024 By Gary Lloyd

Revolution Bars Group saw like-for-like (lfl) sales for the festive month rise by 9% – which is its best December trading since 2019.

Drinks sales up 7% during last two weeks of 2023

05-Jan-2024 By Rebecca Weller

Drinks sales were up 7% year-on-year during the final fortnight of 2023, indicating “positive trends” for 2024 despite continued “difficult trading conditions”, according to CGA.

Live music in pubs could skyrocket in 2024

04-Jan-2024 By Amelie Maurice-Jones

Gigs in the ‘seed’ music industry – those staged in hospitality venues across the UK – soared 37% over the festive season, providing a boost for artists and the pubs they performed in.

Amber Taverns reports strong festive trading

04-Jan-2024 By Shwetali Sapte

Amber Taverns has reported strong trading over the festive period across its pub portfolio, with like-for-like sales up 20% in the period spanning 18 December to 1 January 2024.

Star unveils 'biggest ever' events support package

04-Jan-2024 By Rebecca Weller

Star Pubs & Bars has announced its “biggest-ever” package of events support for its licensees, set to launch later this month.

POLL: How was trade at your pub over the festive period?

04-Jan-2024 By Amelie Maurice-Jones

Despite concerns the festive season would be a disaster, operators have reported that trade was somewhat better than expected.

£1 burgers and pizzas at BrewDog bars

03-Jan-2024 By Amelie Maurice-Jones

From 3 January, BrewDog is offering customers burgers and pizzas for a quid as part of a ‘buy one, get one £1’ deal at any of their UK sites.

St Patrick's Day most popular for pints in 2023

02-Jan-2024 By Rebecca Weller

St Patrick’s Day proved the most popular event for pubs last year with the highest number of pints pulled, according to new figures from Greene King.

Latest pub food trends revealed in new report

02-Jan-2024 By Amelie Maurice-Jones

A new report from Lumina Intelligence has revealed how operators are adapting menus to drive spend while retaining value perceptions.

JDW launches January sale

02-Jan-2024 By Amelie Maurice-Jones

JD Wetherspoon (JDW) is rolling out a nationwide sale at more than 800 of its pubs to welcome in the new year, and £1.99 pints are on the cards.

Purity Brewing Co acquired by The Breal Group

30-Dec-2023 By Nikkie Thatcher

Investment firm The Breal Group has acquired the assets of Warwickshire-based business Purity Brewing Co for an undisclosed sum.

JW Lees reports record turnover of £88m

22-Dec-2023 By Gary Lloyd

Manchester-based brewer JW Lees has reported record turnover for the year to 31 March 2023 with revenue at £88m (up £13m (16%) on the previous year).

£1m revamp of cricketers’ pub ‘will increase turnover by 60%’

22-Dec-2023 By Gary Lloyd

Former England cricketers Stuart Broad and Harry Gurney are teaming up with Everards to plough £1m into the renovation of the Griffin Inn in Swithland.

Farewell 2023, here's to 2024

21-Dec-2023 By Ed Bedington

There's a strange feeling of deja vu as I sit down to write my thoughts on the year and hopes for the year ahead.

Challenges remain but positive changes may be in the offing on utilities

21-Dec-2023 By Ed Bedington

What to expect from utilities in 2024? We asked industry expert Gerry O'Hara of Nationwide Energy to give his perspective on what the coming year was likely to bring.

NWTC enjoys record trade leading up to Xmas

20-Dec-2023 By Nikkie Thatcher

New World Trading Company (NWTC) has reported a record week of sales in the festive lead up.

Pint price up 2p on October 2023

20-Dec-2023 By Nikkie Thatcher

The average price of a pint of draught lager has increased by 2p, official figures have revealed.

Anglian Country Inns reports strong revenue growth

20-Dec-2023 By Nikkie Thatcher

Multiple operator Anglian Country Inns (ACI) has revealed a 25.8% uptick in revenue, partly driven by price increases to offset inflationary costs with the majority coming from a rise in footfall.

Inflation drop ‘good for economy, far from reality for hospitality’

20-Dec-2023 By Nikkie Thatcher

A decrease in the rate of inflation is a good sign but the upcoming increase in business rates will cause operators more pain, one trade body has said.

Knipe re-takes control at Blackrose

20-Dec-2023 By Ed Bedington

Blackrose Pubs has been bought back following the purchase of the business brand by former managing director Daren Knipe.

Admiral invests almost £700k into two sites on same road

20-Dec-2023 By Ed Bedington

Admiral Taverns has ended the year with a nearly £700,000 investment project across two pubs in the north east on the same road.

Scottish Budget ‘bitter pill to swallow’

20-Dec-2023 By Nikkie Thatcher

Voices from across the Scottish hospitality sector have responded with disappointment in reaction to the Budget announcement.

Business rates support slashed for Welsh pubs

19-Dec-2023 By Nikkie Thatcher

Pubs in Wales will see their business rates relief decrease from 75% to 40%, finance minister Rebecca Evans has announced.

Admiral invests almost £1m in four pub revamps

19-Dec-2023 By Gary Lloyd

Admiral Taverns has invested close to £1m in the renovation and reopening of four of its pubs in the past month.

London borough scheme helps to fill staffing shortages

19-Dec-2023 By Gary Lloyd

More than 200 businesses in one London borough have been given support in a bid to help fill 121,000 hospitality job vacancies in the UK.

Festive lifeline needed to save firms

19-Dec-2023 By Nikkie Thatcher

More than half of small to medium business (SME) owners will have to close, put plans on hold or find other employment if Christmas isn’t a successful trading period, research has found.

The Big Interview

'I've got a ridiculous addiction to pubs' - Stonegate's Payne takes a look back

19-Dec-2023 By Ed Bedington

After more than 50 years in the pub trade, Stonegate founder and chairman Ian Payne is hanging up his bar blade. The MA met up with him to chat over 50 amazing years in the trade.

Beer and cider draught sales volumes 7.4% higher than last year

19-Dec-2023 By Gary Lloyd

Weekly volumes sales of draught beer and cider have risen 7.4% versus the corresponding week in 2022 – driven by an increase in footfall and dwell time in the run-up to Christmas.

Greene King to launch Seared concept in New Year

19-Dec-2023 By Amelie Maurice-Jones

Greene King is set to launch the first pub under its new concept, Seared, which brings drinks and dishes from around the world closer to home.

Ringwood sales process slammed as a 'sham'

18-Dec-2023 By Ed Bedington

Carlsberg Marston’s attempts to find a buyer for the iconic Ringwood Brewery prior to announcing its closure have been branded a “sham”.

Potential for a flagship bar at luxury London destination?

15-Dec-2023 By Gary Lloyd

A new bar, restaurant and event space at luxury destination The Royal Exchange has been announced by Des Gunewardena, co-founder of restaurant group D&D London.

Review of the Week

'We have a vital role'

15-Dec-2023 By Ed Bedington

The Morning Advertiser's Ed Bedington caught up with Frederic Robinson's William Robinson to hear his thoughts on the week, from Christmas trade to changing of the political guard.

Tech investment high on agenda of hospitality leaders for 2024

14-Dec-2023 By Gary Lloyd

Three in five hospitality leaders plan to invest in new technology solutions in 2024 – with employees being their main area of focus.

Party-goers spend 2.1% less on nights out

14-Dec-2023 By Amelie Maurice-Jones

For the first time in over a year people are spending less on a night our according to the quarterly survey commissioned by the UK’s largest late-night operator Rekom UK.

Draw more customers with knockout boxing event

13-Dec-2023 By The Morning Advertiser

Pubs will potentially have the chance to gain extra footfall on the night before Christmas Eve when a huge night of boxing can be screened.

Outsourced staff working for Greene King agree new pay deal

13-Dec-2023 By Gary Lloyd

GXO staff members who are contracted by Greene King as lorry drivers and warehouse workers have agreed a new pay deal after going on strike on days last week and at the end of November.

Amber Taverns to reach 170 sites with four openings

13-Dec-2023 By Gary Lloyd

Amber Taverns will open pubs at four new locations in spring 2024.