Exclusive – Neos to make London debut with Tiger Tiger acquisition: Neos Hospitality, the Russell Quelch-led business, is to make its debut in central London after acquiring the former Tiger Tiger site in London’s Haymarket, Propel has learned. The landmark West End location will undergo a multi-million-pound redevelopment, creating a brand-new hospitality destination in the heart of the capital. Set to open in late summer 2026, the project follows more than a year of collaboration with the landlord, Criterion Capital, working to “reimagine what one of London’s most recognisable nightlife addresses could become”. Quelch, chief executive of Neos Hospitality, said: “Securing the Haymarket site is a very significant moment for Neos. Tiger Tiger was an icon of London nightlife, and transforming this landmark location into something completely new is an opportunity we’ve approached with ambition and care. After working closely with the landlord, Criterion Capital, for over a year, we’re confident this redevelopment will deliver a standout destination for the city. This will be our first London venue and represents a major step forward in our growth strategy. We’re focused on creating an all-day, high-energy venue built around strong guest engagement, memorable experiences and long-term commercial strength.” The company said that the redevelopment will deliver a “contemporary hospitality experience that evolves throughout the day and into the night, combining bold food and drink, immersive design and late-night entertainment”. Neos currently operates 19 venues, including modern party bars and a small group of late-night venues, across a range of core brands, including Bonnie Rogues, Barbara’s Bier Haus and Circuit. Omar Aziz, deputy managing director at Criterion Capital, said: “We’re thrilled to partner with Neos Hospitality to bring a new destination to the heart of London’s West End. Piccadilly Circus and Haymarket are some of the most visited streets in the world, with over 100 million people passing through each year. As long-term stewards of the West End, we are committed to reimagining underutilised spaces to create destinations that excite both visitors and locals. Alongside our own investment in the building, we’re confident this partnership will inject fresh energy into one of London’s most iconic districts.”

Propel’s sector-leading guide to the UK’s 500 largest hospitality companies to be made free to Premium subscribers on day of publication: Propel’s sector-leading guide to the UK’s 500 largest hospitality companies is making its return – and will now be available to Premium Club subscribers on the day of publication (9 January). The Propel 500 – 2026 report will analyse the companies leading the charge in hospitality, reporting on turnover, number of sites and key staff. The 45,000-word report will feature exclusive analysis to provide a full understanding of the market’s dynamics, as the top companies in the sector shift position after a challenging year. Mark Wingett will review the mergers and acquisitions changing the shape of the Top 500 as size increasingly matters. Katherine Doggrell will examine the key developments in UK hotels and look into one of the sector’s brightest lights, experiential leisure, while Tim Street dissects the UK’s rapidly developing franchise market. 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 and to pre-order Propel 500 – 2026. 

Exclusive – Hand Picked Hotels reports increased losses, owes shareholders £174.6m: Hand Picked Hotels, the operator of 14 upmarket country house hotels owned by Guy and Julia Hands, has reported that its pre-tax loss increased to £24,933,061 in the period ended 26 December 2024, compared to a loss of £20,156,615 the year before. Turnover rose to £58,850,65 from £54,551,058 the year before. But administrative expenses for the most recent year – at £67,198,897 – were more than £8m more than turnover. The company also operates seven sites under management contracts. It also has a portfolio of 1,343 bedrooms (2023: 1,333). The company stated: “Following an impairment review, an impairment charge of £5.2m (2023: £2m) was recognised. Since the year-end, the shareholders have provided additional loan facilities, net of amounts repaid on loans from entities under common control, of £25.7m to support the group’s working capital and £37m to repay the company’s borrowings from Seaside Treasury solutions, which carried an interest rate of ten per cent. Shareholders debt has increased to £174,600,000 from £145,300,000 at the year end – the group has no external bank loan facilities.”

Exclusive – Patisserie brand Laduree dogged by high legacy costs as losses widen: The upmarket French patisserie brand Laduree, which claims to have invented the double-sided macaroon, has reported legacy high operating costs and general cost management continues to be an issue, resulting in the company recording a loss before tax of £3,473,685 in the year ended 31 December 2024 (2023: £1,475,696). Turnover was £11,101,231 compared to £11,120,665 the year before. The company stated: “A challenging year with negative like-for-like sales across the market was, however, offset by an increase in stores driven by investments. The introduction of a coffee shop model brought new openings in Mayfair and Notting Hill along with a significant investment at Covent Garden, creating a luxury and iconic Parisian tea room.” It added: “As with previous years, the net liability position of the company of £9.8m (2023: £6.3m) has been balanced with a significant intercompany loan.”