Last month it was reported RedCat, which was founded by former Greene King boss Rooney Anand during the pandemic, was looking to procure the 39-strong portfolio as part of a £90m deal.
However, the Suffolk-based pub operator and brewer has now confirmed it will no longer be selling the collection after completing a review of the business and will continue to operate it as part of the Venture Brands unit.
The Venture Hotels arm includes luxury hotel brand Everly Hotels and was acquired by Greene King, which runs some 2,700 pubs across the country, in 2019.
Good progress
On its website, Greene King, which operates a number of other brands including Hungry Horse and Chef & Brewer as well as franchise concepts Hive and Nest, described Venture Hotels sites as having a “unique sense of place that locals can feel proud of”.
Speaking last month on the talks with RedCat, a spokesperson for Greene King told The Morning Advertiser (The MA): “We have made good progress with Venture Hotels over the last three years.
“However, we are now looking at all investment options for this part of our business. This includes the possibility of different ownership.”
In addition, Greene King announced Vincent Madden, who joined the company in 2022 after working at Arora Hotels for two decades, has been promoted to managing director of its Premium Ventures division.
Exciting time
The expanded role will see Madden head up Metropolitan Pub Company and Crafted Pubs, of which he has been caretaking since the start of this year, as well as his current responsibility for Venture Hotels.
Madden will continue to report to Jodie Tate, managing director of Destination Brands and Ventures for the group.
Regarding Madden’s appointment, Tate said: “This is a strategically key part of our business as we look to build our presence in the premium pubs market, so we’re thrilled Vincent will lead our teams at what is an exciting time for Metropolitan Pub Company and Crafted Pubs.”
