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Friday 27th February 2015
Friday Opinion
Subjects: Crowdfunding, the importance of a great deal and bad ideas on alcohol regulation
 
Authors: Martyn Cornell, Cyril Lavenant and Paul Chase

 

The wisdom of crowds by Martyn Cornell

Since the Financial Services Aut … view
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Friday 27th February 2015
Restaurant Group reports LfLs up 2.5%, aims to open 50
Restaurant Group reports LfLs up 2.5%, aims to open 50: The Restaurant Group has reported sales rose 10% to £635m in the year to 28 December 2014. Ebitda was up 8.5% to £117m and profit before tax rose 7.4% to £78.1m. A total of 40 sit … view
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Friday 27th February 2015
Propel Friday News Briefing
CGA Peach – consumers paid 165m visits to pubs and bars over Xmas: Consumers paid a total of 165 million visits to pubs, bars and clubs over Christmas – 15 million more than in the previous festive season. That is one of the headline … view
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Thursday 26th February 2015
Government rules out locally set licensing fees 'at the present time'
Government rules out locally set licensing fees 'at the present time': The government has announced that it is ruling out letting local authorities set their own charges for licences "at the present time", because of a lack of evidence on how … view
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Thursday 26th February 2015
Pubco watchdog identifies areas for improvement
PICA-Service report identifies areas for tenant-landlord improvement: The PICA-Service (the Pubs Independent Conciliation and Arbitration Service), the body responsible for dealing with cases alleging breaches by pub company or brewery landlor … view
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Thursday 26th February 2015
Domino’s UK – LfLs up 11.3%, Germany in growth
Domino’s UK – LfLs up 11.3%, Germany in growth: Domino’s Pizza has reported sales rose 14.6% to £766.6m for the 52 weeks ended 28 December 2014. Like-for-like sales growth was 11.3% at its 724 UK mature stores (2013: 7.0% in 670 mature … view
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Thursday 26th February 2015
Propel Thursday News Briefing
Greene King Leisure Tracker – 18 to 24-year-olds most optimistic about 2015 leisure spend: The Greene King Leisure Spend Tracker has revealed that 18 to 24-year-olds are the most optimistic about their spending prospects in 2015. The latest … view
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Wednesday 25th February 2015
CGA Peach – eating out sector primed for growth
CGA Peach – eating out sector primed for growth: The eating and drinking out market is primed for growth in 2015 thanks to the popularity of flexible formats, barbecue food and craft drinks. But soaring property costs and the risk of sa … view
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Wednesday 25th February 2015
Whitbread reports 5.8% LfL growth in past 11 weeks
Whitbread reports 5.8% LfL growth in past 11 weeks: Whitbread has reported 5.8% like-for-like sales growth in 11 weeks to 12 February. Premier inn was up 8.6%, restaurants grew sales by 0.6% and Costa was up 6.9%. Chief executive Andy Har … view
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Wednesday 25th February 2015
Propel Wednesday News Briefing
Loungers investor sells hot dog business: Piper Private Equity, which has investments in Loungers, Turtle Bay and Hickory’s, has sold Rollover Hot Dogs to Kerry Foods for an undisclosed sum. Since investing in 2006, Piper has turned the … view
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Tuesday 24th February 2015
Gordon Ramsay opens pub in Atlantic City with 26 beers on tap
Gordon Ramsay opens pub in Atlantic City with 26 beers on tap: Gordon Ramsay Group, in partnership with Caesars Entertainment, has opened the Gordon Ramsay Pub & Grill at Caesars Atlantic City with a choice of 48 beer options. The opening of t … view
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Tuesday 24th February 2015
Burnt ends and French dip sandwiches among hot new eating out trends
Burnt ends and French dip sandwiches among hot new eating out trends says Horizon: Burnt ends – charred meat cut from a barbecued brisket – is one of the emerging trends in the UK’s high street restaurants, according to the foodservice e … view
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Tuesday 24th February 2015
Propel Tuesday News Briefing
UK’s most sustainable pubs and restaurants named: The Truscott Arms in Maida Vale, whose award-winning Sunday roasts are all served with free-range meat, has been named Sustainable Pub of the Year. Andrew and Mary Jane Fishwick, owners of th … view
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Monday 23rd February 2015
Camra – 1,047 pubs saved by beer duty cuts
Camra – 1,047 pubs saved by beer duty cuts: The Campaign for Real Ale (Camra) is calling on the Chancellor of the Exchequer to cut beer duty for a historic third time in next month’s Budget, as a new report estimates 1,047 additional pubs … view
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Monday 23rd February 2015
Propel Monday News Briefing
PizzaLuxe reduces own valuation to offer more equity to investors: PizzaLuxe, the fledgling better pizza operator led by Harrods' former director of food, Paul Goodale, has revised its valuation on Crowdcube downward in response to investor fe … view
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Friday 20th February 2015
Update: BrewDog, Geronimo, Marco Pierre White, tied tenants
BrewDog updates on UK openings: BrewDog has updated on its UK bar openings plan for 2015, with new venues in Leicester, Leeds, Glasgow, Brighton, Southampton and Islington in the pipeline. The company said: “We are just about to begin work o … view
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Friday 20th February 2015
Angela Malik begins liquidation process
Angela Malik begins liquidation process after site failures: Angela Malik has closed her two Modern Asian Deli sites in Acton and Ealing, West London, blaming cash challenges. Insolvency practitioners have been brought in, and a liquidation pr … view
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Friday 20th February 2015
Friday Opinion
Subjects: The squeeze on weaker restaurant operators, global restaurant investment, Rooney Anand and minimum pricing
 
Authors: Richard Negus, James Hacon and Martyn Cornell

 
As rents climb, the weakest will go to the – inc … view
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Friday 20th February 2015
CGA Peach – Byron and Browns are UK’s most satisfying brands
CGA Peach – Byron and Browns are UK’s most satisfying brands: Byron and Browns are the eating-out brands that leave their customers most satisfied, while the hot US import Five Guys Burger and Fries gets the best rating for the quality of … view
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Friday 20th February 2015
Propel Friday News Briefing
Marston’s improves Revere food quality through link with Michelin chef: Marston’s, the brewer and retailer, is rolling out an improved food offer across its 15-strong Revere unbranded premium pub segment in a partnership with the Michelin- … view
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Thursday 19th February 2015
Burger King begins UK home delivery trial
Burger King begins UK home delivery trial: Burger King has revealed that is trialling a home delivery service in the UK. The company refranchised all UK sites in 2012 as part of a strategy to improve average site profitability by focusing on b … view
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Thursday 19th February 2015
Propel Thursday News Briefing
Richard Negus – rent per square foot has doubled in suburban London locations: Richard Negus, a partner at London property agent AG&G, has reported that rent in some traditionally cheaper London suburbs has doubled as operators, struggl … view
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Wednesday 18th February 2015
Sapient reports more than £1bn of sector deal activity
Sapient forecasts ‘busy’ 2015 after advising on more than £1bn of pub and bar sector transactions in 2014: Leading sector advisory Sapient Corporate Finance has forecast that 2015 will be another busy year for mergers and acquisitions act … view
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Wednesday 18th February 2015
Gordon Ramsay to return to first restaurant of his career
Gordon Ramsay to return to first restaurant of his career: Gordon Ramsay is to return to the restaurant where his career first took off more than 20 years ago. 11 Park Walk, originally the site of Gordon Ramsay’s Aubergine restaurant, will o … view
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Wednesday 18th February 2015
Douglas Jack raises target price for Restaurant Group
Douglas Jack raises target price for Restaurant Group: Numis Securities leisure analyst Douglas Jack has raised his target price for Restaurant Group shares by 100p to 860p to reflect strong prospects. He said: “Final results are due on Frid … view
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Wednesday 18th February 2015
Propel Wednesday News Briefing
Starbucks launches premium coffee delivery service: Starbucks has launched a innovative subscription service in the US, giving online customers access to super-premium, small-lot coffees roasted at its new flagship Seattle Reserve Roastery and … view
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Tuesday 17th February 2015
Exclusive – Snug takes on new Ware site
Snug takes on new Ware site: The Snug, the St Albans-based neighbourhood all-day kitchen and bar operator, has acquired its seventh outlet, in Ware High Street, Hertfordshire. The new site gives The Snug a presence in four key towns in Hertfor … view
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Tuesday 17th February 2015
SSP to open first Jamie's Italian in France
SSP to open first Jamie's Italian in France in €180m Nice Airport deal: SSP is to open the first Jamie's Italian in France, as part of an 11-year, €180m deal to run ten outlets at Nice Airport. Among the other new outlets are a restaurant … view
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Tuesday 17th February 2015
Revolution vodka bar operator to float
Revolution vodka bar operator to float: Revolution vodka bar operator New Inventive Bar Company is to seek an Initial Public Offering under the name Revolution Bars Group. The company has also announced the appointment of Keith Edelman as … view
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Tuesday 17th February 2015
Propel Tuesday News Briefing
New arrival, former business analyst, wins CAMRA National Pub of the Year award: The Salutation Inn, a rural freehouse in the small village of Ham, Gloucestershire, has won Campaign for Real Ale’s (CAMRA) National Pub of the Year Award, … view
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Monday 16th February 2015
Propel Monday News Briefing
First UK Project Pie opens on Valentine’s Day, a total of 60 planned for UK: The first Project Pie pizza restaurant in the UK opened in Dundee on Saturday, Valentine’s Day. The 60-seater, £500,000 restaurant, at 48-54 Reform Street, … view
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Friday 13th February 2015
Luminar Group restructures senior management team
Luminar Group restructures senior management team: The nightclub operator Luminar has re-organised its regions and management structure. From April, the company will redefine its five regions – North, Midlands, South, South West and East & S … view
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Friday 13th February 2015
Binge-drinking among young dropping sharply
Binge-drinking among young dropping sharply says ONS: Binge-drinking among young adults in Britain is continuing to fall sharply, figures from the Office for National Statistics show. The proportion of  bingeing at least once a week is now do … view
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Friday 13th February 2015
Friday Opinion
Subjects: The benefits of running pubs free-of-tie, breathalysing customers, fake charities and the alcohol problem and bingo in pubs
Authors: Ted Kennedy, John Gaunt, Paul Chase and Tim Shield

 

Free-of-tie pubs need not be a V … view

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Friday 13th February 2015
Propel Friday News Briefing
Ted Kennedy – free-of-tie tenanted pubs work perfectly well: Industry veteran Ted Kennedy, whose career has involved running both Whitbread’s pub division and Mill House Inns, has broken ranks to argue that it is preferable to run ten … view
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Thursday 12th February 2015
Geronimo reveals details of first “pub-on-the-go”
Geronimo reveals details of first “pub-on-the-go”: Geronimo Inns has revealed more details of its first “pub-on-the-go”, The Curious Pig, set to launch on 26 February at St Pancras International Station, London. Open from 7am to 1 … view
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Thursday 12th February 2015
Propel Thursday News Briefing
Pub and restaurant like-for-likes rose 1.4% in January: Restaurant and managed pub groups saw collective like-for-like sales edge up 1.4% in January, despite the impact of the snow and cold weather that gripped much of Britain during the month … view
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Wednesday 11th February 2015
Starbucks reveals full details of UK performance
Starbucks reveals full details of UK performance: Starbucks UK, led by Mark Fox, has filed accounts that show the full detail of its performance in the year to 28 September 2014. Turnover rose by 2.3% to £408,721,070 from £399,405,183 the ye … view
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Wednesday 11th February 2015
ALMR to step up campaigning on property issues
ALMR to step up campaigning on property issues: The Association of Licensed Multiple Retailers (ALMR) is to campaign on issues surrounding commercial leases, business rates and property costs in the run-up to the General Election. ALMR chief e … view
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Wednesday 11th February 2015
Propel Wednesday News Briefing
Sector firms sign up to private company share marketplace: Firms in the hospitality sector are signing up to an online platform that enables shareholders in private companies to gain liquidity in their holdings by matching up would-be sellers … view
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Tuesday 10th February 2015
Batemans recruits retail director in managed pub expansion
Batemans recruits retail director in managed pub expansion: Batemans, the family brewer based in Lincolnshire, has recruited Linda Green as its new retail director. Her appointment comes as Batemans makes acquisitions a major priority for the … view
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Tuesday 10th February 2015
Star Pubs & Bars invests in gin bar, largest Scottish investment
PG Taverns opens gin bar and dining room in Star Pubs & Bars largest ever Scottish investment: The regeneration of the West End of Edinburgh took another step forward this week with the opening of The Jolly Botanist, (formerly the Spider’s W … view
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Tuesday 10th February 2015
Propel Tuesday News Briefing
Camden Town Brewery defends £75m crowdfunding valuation: Camden Town Brewery has defended the eye-watering £75m valuation, more than 50x current Ebitda - it has placed on itself after launching a crowdfunding campaign to raise £1.5m in … view
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Monday 9th February 2015
Luminar completes lease assignments
Luminar completes lease assignments: The UK’s largest nightclub operator, The Luminar Group, has assigned the last of its 42 short and long lease agreements, three years after being bought out of administration. The company recently agreed a … view
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Monday 9th February 2015
Propel Monday News Briefing
Bill’s secures £37m new debt facility with HSBC: Bill’s Restaurants has secured a £37m facility with a new banking partner HSBC, according to accounts lodged at Companies House. The new facility, replacing an existing facility thoug … view
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Sunday 8th February 2015
Ask Italian and Zizzi report record trading
Ask Italian and Zizzi report record trading: Turnover at the combined Ask Italian and Zizzi businesses grew 9.6% to £119m in the 28 weeks to 11 January, it has been announced. Ebitda rose 21.1% to £17.6m. Ebitda margin grew from 13.4% t … view
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Friday 6th February 2015
Walkabout operator Intertain secures future
Walkabout operator Intertain secures future: Walkabout operator Intertain has secured its future with creditors backing a Company Voluntary Arrangement (CVA). The restructuring plan enables Intertain to optimise its financial structures and fa … view
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Friday 6th February 2015
Friday Opinion
Subjects: Craft beer retailing, growth for growth’s sake, reflections on the food-to-go market
Authors: Martyn Cornell, Steve Kenee and Ann Elliott

 

Lessons from Propel’s Craft Beer Retail Study Tour by Martyn Cornell

Co … view
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Friday 6th February 2015
Shaftesbury – restaurants and bars increasingly important to the West End
Shaftesbury – restaurants and bars increasingly important to the West End: West End property landlord Shaftesbury, which owns 587 shops, restaurants and pubs across 14 acres of the West End, has reported that the variety and quality of … view
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Friday 6th February 2015
Propel Friday News Briefing
Cooplands goes through pre-pack administration: Cooplands of Doncaster, which operates 80 retail stores and cafes, plus a fleet of 26 mobile sandwich vans across Yorkshire and the north east of England, has gone through a pre-pack administrati … view
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Thursday 5th February 2015
Enterprise reports 0.3% LfL net income growth, diverting capital into shorter term agreements
Enterprise reports 0.3% LfL net income growth, diverting capital into shorter term agreements: Enterprise Inns has reported that trading performance during the first 18 weeks of the financial year to 31 January has been in line with expectatio … view
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Thursday 5th February 2015
Propel Thursday News Briefing
Franchise acquisition sparks fresh Costa demerger speculation: There is fresh speculation that Whitbread is considering demerging its Costa Coffee business after the company moved to buy one of its largest franchisees. Whitbread has always pla … view
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Wednesday 4th February 2015
Charles Wells launches new country kitchen concept in France
Charles Wells launches new country kitchen concept in France: Charles Wells France, the French division of the Bedford-based family brewer Charles Wells, has unveiled a new trading concept with the launch of a new site, the English Country Kit … view
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Wednesday 4th February 2015
Update: Sky, Chapel Down, Whitbread
Sky reports 204,000 new customers in the UK: Sky has reported that it signed up 204,000 new customers in the six months to 31 December 2014, its highest number in nine years. Group revenue grew 5% to £5.604bn and operating profit grew 16 … view
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Wednesday 4th February 2015
Propel Wednesday News Briefing
Burger & Lobster founder hails automation and technology as key restaurant trends: Automation and technology are key future trends for the restaurant industry, according to Mikhail Zelman, founder of Burger & Lobster in London and the Go … view
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Tuesday 3rd February 2015
Downing reports progress on £12.8m investment in two Antic-managed pub companies
Downing reports progress on £12.8m investment in two Antic-managed pub companies: Investment fund Downing has reported progress on two Antic-managed London pub companies in which it has invested a total of circa £12.8m. Pabulum Pubs, … view
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Tuesday 3rd February 2015
Propel Tuesday News Briefing
Risk Capital Partners rules out raising another investment fund: Risk Capital Partners, the private equity firm co-founded by sector investor Luke Johnson, has ruled out plans to raise another fund. The firm, which counts Patisserie Valerie, L … view
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Monday 2nd February 2015
Dan Davies named chairman of Institute of Licensing
Dan Davies named chairman of Institute of Licensing: The Institute of Licensing, the membership and training organisation for licensing professionals, has announced Dan Davies as its new chairman. Davies is founding director and chief executiv … view
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Monday 2nd February 2015
Horizons – eating out sector showing strong recovery in the regions
Horizons – eating out sector showing strong recovery in the regions: Britain’s eating out sector continues to move into more positive territory with 71% of respondents to a very recent consumer survey having eaten out in the past two weeks … view
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Monday 2nd February 2015
Propel Monday News Briefing
Scottish brewers welcome tied pub ruling for Scotland: A group of Scottish brewers and organisations – including Tennent Caledonian Breweries, Harviestoun Craft Beers, Fyne Ales, the Scottish Licensed Trade Association and others – h … view
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