Propel Newsletter Archive Page

Young’s reports strong first quarter trading momentum driven by warm weather: Young’s has reported strong trading momentum in the first quarter of its new financial year, driven by the warm weather in the last few months. In a trading update for the 14 weeks from 1 April 2025 to 8 July 2025, in advance of its AGM today, the company said the strong trading momentum announced in its full year results in June “has continued”. It said revenue for the 14 weeks is up 6.6% in total and 7.0% on a like-for-like basis against last year. “This performance has benefitted from long periods of warm and sunny weather during spring and early summer, supporting growth particularly in our beautiful gardens and riverside pubs,” a statement read. “These results are even more pleasing when measured against the prior year comparator, which benefitted from the significant positive impact of Euro24 Championship on performance in June and early July. We remain confident about the year ahead, despite the well-publicised challenges faced by our industry. We continue to invest in our estate and have already completed several schemes to take advantage of the summer trading period. The strong performance demonstrates that our proven strategy of operating premium, individual, and well-invested pubs and bedrooms, consistently delivers industry leading results.” Young’s chief executive Simon Dodd added: “We are delighted to be reporting excellent trading over the first quarter of the new financial year, particularly against such a strong comparator. Young’s pubs are thriving, and our strategy of employing the very best teams, and maintaining a premium, well-invested and differentiated estate, continues to deliver industry leading results. Our business is performing well, and we are confident about the year ahead.” In June, Young’s reported like-for-like revenue growth of 5.7% for the 52 weeks ended 31 March 2025. Total revenue for the period was up 24.9% to £485.8m, and adjusted Ebitda up 23.2% to £113.6m, with managed house Ebitda for the period up 22.4% to £138.3m. Adjusted operating profit increased £14.1m to £71.4m, with “a sector leading margin” of 14.7%. Dodd will be among the speakers at the Propel Multi-Club Conference and summer party on Thursday, 4 September, at the DoubleTree by Hilton Oxford Belfry. The all-day conference will focus on “moving ahead with evolved thinking” and will be followed in the evening by the summer party, with a barbecue and more than four hours of live music. There are up to two free places per company for operators and Premium subscribers can have up to four places. To book, email kai.kirkman@propelinfo.com. A room can also be booked for the evening at an additional cost. For more details, email kai.kirkman@propelinfo.com. Dodd will talk to Propel group editor Mark Wingett about the challenge of providing a premium offer, appealing to a generation of moderate drinkers and the future of the pub. For the full speaker schedule, click here. Meanwhile, the evening entertainment includes the return by popular demand of the UK’s top Robbie Williams and Gary Barlow tribute acts as Scott Borley and Daniel Hadfield again join forces. Pure Mercury, the UK’s foremost Freddie Mercury tribute act, will also be performing along with The Greek Street Live House Band, which will be playing guests’ requests. The evening will also feature a music quiz with The Quiz Team.

Premium Club subscribers to be sent latest UK Food & Beverage Franchisor Database and videos from Multi-Club Conference this week: Premium Club subscribers will be sent the latest UK Food & Beverage Franchisor Database and all the videos from the Multi-Club Conference this week. The next UK Food & Beverage Franchisor Database will be sent at midday today (Wednesday, 9 July), featuring ten new entries plus updates to existing ones. This brings the total to 360 featured companies and more than 205,000 words of copy. Among the new additions are Hong Kong’s street food brand Mammy Pancake; Spain-based, fast casual business Plant Shack; Taiwanese bubble tea brand Chatime; and BonBird, a fried chicken brand from Dubai multi-brand operator Yolk Brands. Premium Club subscribers will also receive all the videos from the Propel Multi-Club Conference – female leaders and entrepreneurs, on Friday (11 July), at 9am. They include Thomasina Miers, co-founder of Wahaca, who talks about why she is determined to help improve access for all to better food, and businesswoman Vanessa Branson, who reveals how she transformed a near-derelict riad in Marrakech into El Fenn – stretching across 13 interconnected riads, 41 rooms and suites, and a 1,300 square-metre rooftop. Premium Club subscribers also receive access to five other databases: the Turnover & Profits Blue Book, the Multi-Site Database, the New Openings Database, the UK Food and Beverage Franchisee Database and the Who’s Who of UK Hospitality. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events and discounts on specialist sector reports. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club subscribers will be sent a dedicated monthly newsletter that will highlight key updates in the sector and direct subscribers to all the vital content their membership offers. Premium Club subscribers also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel group editor Mark Wingett and a host of industry leaders from across the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.

The Gym Group closing in on a million members as good trading momentum driven by ‘excellent’ performances at new sites: The Gym Group has said it is closing in on a million members, with good trading momentum driven by “excellent” performances at its new sites. In a trading update for the first half of its 2025 financial year, the group said like-for-like revenue grew 3% year on year. Revenue for the six months ended 30 June 2025 increased by 8% to £121.0m (first half of 2024: £112.1m). Average member numbers grew 4% to 953,000 (first half of 2024: 914,000) and average revenue per member per month was up 4% to £21.16 (first half of 2024: £20.44). The group closed the period with 949,000 members compared with 891,000 at 31 December 2024 and 905,000 at 30 June 2024. It opened three new gyms in the first half of the year and is on site at a further four. The group said it remains on track to open 14-16 gyms in 2025, while one city centre gym was closed in the period. Net debt at 30 June 2025 was £51.2m, compared with £61.3m at 31 December 2024 and £54.6m at 30 June 2024. The group said it expects net debt at the year end to trend back towards the levels at December 2024, “given the new gym opening and refurbishment programmes are second-half weighted”. In June, the Group agreed a one-year extension to its existing bank facilities, as well as an increase in the available revolving credit facility (RCF) of £12m. As a result, the group now has in place a combined £102m facility, consisting of £45m of term loan and £57m of RCF, which is due to mature in June 2028. Chief executive Will Orr said: “We have delivered continuing momentum in the first half of the year, with further good growth in membership and yield. We are seeing excellent performance in our new sites, supported by a more tailored marketing approach and the evolution of our site proposition. We remain confident in the full year outlook and look forward to updating the market more fully in September.”

Travelodge to open new Essex hotel: Travelodge is set to open a new hotel in Loughton, Essex. The100-room property, located just off the M11, is earmarked to open late next year. The hotel will feature Travelodge’s new premium design, including a modern reception area, next-generation rooms and the new 85 Bar Café. Tony O’Brien, Travelodge’s UK development director, said: “This will further strengthen our presence across the Greater London/Essex area. Loughton is a prime location for commuters, shoppers and visitors, and our hotel will provide a well-connected base.”