Hospitality venues hit with average £33,000 business rates increase: New analysis from UKHospitality reveals, on average, hospitality properties in England will see their business rates bills rise by £32,714 over three years. Hospitality businesses in prime minister Sir Keir Starmer’s constituency of Holborn and St Pancras will see an average increase of £96,429 over three years. In chancellor’ Rachel Reeves’ constituency of Leeds West and Pudsey, over three years hospitality properties will see an average increase of £12,297. Next year, in 2026-27, the average hospitality property in England will pay £23,961 in rates – an increase of £3,126 (15%) on the current average of £20,835. In 2027-28, it will pay £30,849 – an increase of £10,014 (48%) compared with today. In 2028-29, it will pay £40,409 – a rise of £19,574 (94%) compared with the current average. In total, the average increase to business rates totals £32,714. UKHospitality chief executive Allen Simpson said: “Business rates tax hikes will hit every city, town, village and high street in the country. Unfortunately, not one area of the country is spared. The Treasury were warned, by UKHospitality, to expect significant increases to rateable values, due to the previous revaluation being based on valuations during covid. We laid out, in no uncertain terms, the maximum 20p discount to the multiplier was absolutely necessary to offset these rises in rateable values. The government did not heed that warning, and now the level of business rates increase over three years will be simply unsustainable for many businesses to absorb. While transitional relief will soften the immediate impact, it does not solve the problem. Price increases, job losses and business closures will all accelerate – that’s bad news for local economies, local jobs and local high streets. Implementing a permanently lower multiplier for hospitality is the right policy, but delivering only a 5p discount leaves the policy fundamentally incomplete. The government needs to deliver the full 20p reduction to the hospitality multiplier. The government said it would help hospitality businesses – it’s time to take on board our solution and avoid this hospitality tax hike.”

Propel’s sector-leading guide to the UK’s 500 largest hospitality companies returns, to be made free to Premium subscribers on day of publication: The Propel 500 – 2026 report will analyse the companies leading the charge in hospitality, reporting on turnover, number of sites, and key staff. The guide will also include exclusive analysis to provide a full understanding of the market’s dynamics. Mark Wingett will delve into the mergers and acquisitions shaping the future of the top 500. Tim Street dissects the UK’s rapidly-developing franchise market and, as the experiential leisure sector becomes a cornerstone of modern hospitality, Katherine Doggrell will assess the rise of deals in the sector, as well as the shifts in the hotel industry. Data expert Mark Bentley, business development director at HDI, will look at emerging growth sectors and Meaningful Vision founder Maria Vanifatova will analyse the latest trends in the quick service restaurant market. Propel 500 – 2026 will be released on Friday, 9 January at 9am and will be available free to Premium Club subscribers. The report will be available to non-Premium Club subscribers for £595 plus VAT. 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.

McDonald’s UK & Ireland names new CFO: McDonald’s UK & Ireland has named Cliff Thomas as senior vice-president, chief financial officer, Propel has learned. Thomas replaces Mark Kiernan, who after more than 20 years with McDonald’s, has decided to leave the company and seek a new opportunity. Thomas returns to the UK & Ireland market where he previously spent 12 years, serving in a number of roles including finance director. Since his move to the US market in 2022, Thomas has held positions including director of business insights, which included working with the new business ventures team establishing the new concepts and pilot restaurants. In his most recent role, chief financial officer for a European international segment (eight of the brand’s owned markets across Europe), McDonald’s said Thomas was instrumental in driving performance, growth, long term financial strategies, while developing finance talent across Europe. A spokesperson told Propel: “Mark has had a highly successful career with McDonald’s during which he helped the business through years of exceptional growth, as well as demonstrating leadership in navigating unprecedented external events. Throughout his career, Mark has built strong relationships across the business and served as a trusted leader for his own team, franchisees and suppliers alike. He has been a people focused leader, with a passion for the growth and development of his team, and will leave a legacy of outstanding talent across his functions. The McDonald’s UK & Ireland team is grateful to Mark for his leadership and dedication across more than two decades, and wishes him every success as he embarks on his next chapter.”