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Tortilla appoints former Punch Taverns, Bill’s and Ten Entertainment CEO as new chair: Tortilla has appointed former Punch Taverns, Bill’s and Ten Entertainment chief executive Duncan Garrood as its new non-executive chair, with effect from Friday, 5 December. Garrod succeeds Emma Woods, who, as previously reported, will step down as chair following four years on the board. Tortilla said Garrood brings “significant leadership experience”, having also held board roles as chair of Small Beer Brewco, and is currently senior independent director with the Brighton Pier Group. He also adds substantial international franchising expertise from his time with Alshaya, BAA and with Eathos (Tortilla’s franchisee) in the Middle East. The company said: “This combination of operational, board and global franchising experience will be invaluable as Tortilla enters its next phase of growth in the UK and internationally. The board would like to thank Emma for her leadership and contribution during her tenure as chair and is delighted to welcome Duncan to the group.” Garrood said: “It is great honour to be invited to chair Tortilla, a brand I have admired for a long time and had the pleasure of working with, and to help the team steer through the next chapter of growth. I’d like to thank Emma hugely for steering the company from its IPO and I look forward to working with the Tortilla team and our investors.” Tortilla chief executive Andy Naylor said: “We are delighted to welcome Duncan to the board. His deep understanding of international hospitality and franchising will be a tremendous asset as we continue to deliver on our growth ambitions both in the UK and overseas. I would also like to thank Emma for her support and stewardship over the past four years.” Woods added: “It has been a privilege to serve as chair of Tortilla alongside Andy, Brandon and the board. I have known and admired Duncan for years, and with the business now well positioned for its next phase of development, including international expansion, I am confident that Duncan’s extensive experience makes him the ideal person to guide Tortilla through this exciting next chapter.” Tortilla announced in October that Woods would be stepping down from her role as non-executive chair at the end of the year. Woods joined Tortilla in October 2021 after working with founder Brandon Stephens to secure a successful initial public offering listing. She previously spent four and half years, from December 2018 to June 2021, as chief executive of Wagamama, and more than three years, from July 2013 to March 2017, as group digital and marketing director for Merlin Entertainments. She has also performed several non-executive director roles for the likes of Gym Group, Huel and Abba Voyage, and is also chair of collagen and wellness brand Ancient + Brave.

Premium Club subscribers to receive new searchable and segmented New Openings Database on Friday: The next Propel New Openings Database will be sent to Premium Club subscribers on Friday (5 December). The database will show the details of 181 site openings, including which company has opened a site or its plans to open one in the future. The database will have details on what type of site it is and its location, and there will also be a website link to the businesses. The database is published on a monthly basis and Premium Club subscribers will also receive a 11,986-word report on the 181 new additions to the database. It is segmented into seven categories – cafe bakery, casual dining, experiential leisure, fine dining, hotels, pubs and bars, and quick service restaurants – making it even easier for users to search. The database includes new openings in the casual dining sector such as Ronnie's New York, offering “modern Mediterranean fare to classic Empire State staples”, contract caterer Elior launching all-day dining restaurant The Board Walk,in Bristol, and New York-inspired pizza concept Vincenzo’s, with an opening in London. Premium Club subscribers also receive access to five other databases: the Turnover & Profits Blue Book, the Multi-Site Database, the UK Food and Beverage Franchisor 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 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.

Slower growth and rising unemployment forecast post Budget: Growth in the UK economy will slow next year and unemployment will hit 5.2%, according to forecasts that also warn of the impact of the Budget’s tax rises on household spending. The latest projections from KPMG, the professional services firm, said that annual GDP growth would slow to 1% in 2026, from 1.4% this year, and there would be a further deterioration in the labour market. The 1% GDP growth figure compares with 1.5% forecast for 2026 by the Office for Budget Responsibility. KPMG predicted that household spending would remain one of the weak spots in the economy as hundreds of thousands of employees will be pushed into paying the higher rate of income tax of 40%, reports The Times. Yael Selfin, chief economist at KPMG, said: “Consumer spending is likely to remain subdued over the coming year. Although the budget avoided front-loaded tax hikes, the decision to maintain frozen tax thresholds until 2031 means that fiscal drag will persist.” KPMG thinks the unemployment level will rise to 5.2% next year, the highest since January 2020. It will be pushed up by more people entering the workforce after periods of inactivity and a slowdown in private sector hiring. AI and automation will also impact the jobs market, the firm said. The weakening labour market is expected to force the Bank of England into three more interest rate cuts over the coming 12 months, leaving the base rate at 3.25%, down from the present 4%. KPMG said that the Bank was likely to loosen monetary policy at its last meeting of the year on 18 December. The government’s measures to reduce inflation through cutting energy bills may also lead to a sharp fall in average consumer price rises from 3.4 per% this year to 2.1% in 2026, close to the Bank’s target. The economy is expected to pick up again, expanding by 1.4% in 2027 “as investment momentum strengthens, public infrastructure projects scale up and planning reform begins to feed into housing supply”, KPMG’s forecast said. Selfin said: “There are pockets of strength emerging in the form of data infrastructure and green energy investment. The medium-term picture could improve further if planning reforms unlock housing delivery and uncertainty reduces for investors.”

Freehold of Glasgow city hotel sold in £7.5m deal: Maven Capital Partners has sold the freehold of the 101-bedroom Ibis Styles Glasgow Centre George Square hotel for about £7.5m to an undisclosed international group with assets in Europe and North America. The Miller Street property was developed by Maven clients in 2014 and opened in September 2015, trading under Accor’s Ibis Styles brand throughout its operation. Maven said the deal generates a 1.4 times return for investors alongside business premises renovation allowance tax relief, with Accor approving the change of control so the Ibis Styles name remains in place. Maven manages property and private equity interests from its Glasgow base and also recently completed a £3.35m disposal of an industrial asset at ABZ Business Park in Aberdeen to French investment manager Epsicap REIM. Paul Johnston, a partner at Maven, said: “This sale marks a successful exit from a long-standing investment that has delivered consistent performance and strong returns for our investors. We are pleased to have secured a strategic buyer with deep sector expertise and a commitment to maintaining the hotel’s brand and operational continuity.” The buyer is described as a well-established international hotel owner with properties in Paris, London, Amsterdam, Montreal and Edinburgh.