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Admiral Taverns reports record turnover of £210.4m as profits rise: Admiral Taverns, which runs 1,350 community pubs across the UK, has reported revenue increased to a record £210.4m for the year ending 1 June 2025 compared with £194.5m the previous year. Underlying adjusted profit was up to £68.9m from £60.8m the year before. The majority of Admiral’s community pubs, which are nearly all located in suburban or semi-rural areas, mainly in the north of England, are leased and tenanted and focus on selling drinks rather than food. More than 220 of them are part of its Proper Pubs division, which are pubs run under an operator-managed model. Like-for-like sales in December were up about 8% at its “Proper Pubs” division. Chief executive Chris Jowsey told The Times the company plans to convert about another 120 of its pubs to this operator-managed model. He added: “We were really pleased with Christmas and what it says to me is that a lot of people decided they were not going to go out for food, or do less of that, and were more likely to go out for a beer with friends and family.” Because of the location of its Proper Pubs, “our demographic tends to be financially stretched, and therefore having an affordable pint is really important”, Jowsey said. In its last financial year, the group invested £31.5m across its pubs, including in refurbishments, improving pub gardens and accommodation and sustainability measures to reduce energy costs, which achieved “attractive returns”. Jowsey said the results highlight the “resilience of our business and estate against a very challenging market backdrop”. Last month, chancellor Rachel Reeves announced pubs and live music venues will get a 15% discount on their business rates in 2026-27, with bills frozen in real terms for the following two years. Jowsey said he was pleased the government had listened to the industry’s concerns, but added the overall system must be reformed “properly and fairly once and for all”. He said the response to the Budget had demonstrated “how important people think pubs are”. He added: “I’m hoping that strength and feeling means that politicians recognise they need to do something now, because if they don’t they are going to squeeze the life out of pubs and that cannot be helpful for anybody.” In November, Admiral Taverns acquired the 21-strong leased and tenanted pubs division of RedCat Hospitality, the operator of Coaching Inn Group.

Premium Club subscribers to receive updated Multi-Site Database with 3,536 operators and 19 new companies on Friday:Premium Club subscribers will receive the updated Multi-Site Database on Friday (27 February), at noon. The next Propel Multi-Site Database provides details of 3,536 multi-site operators and is searchable in seven main segments. The database features 1,021 (29%) casual dining operators, 805 (23%) pub and bar operators, 626 (18%) cafe bakery operators, 499 (14%) quick service restaurant operators, 290 (8%) hotel operators, 238 (7%) experiential leisure operators and 55 (2%) fine dining operators. The database is updated each month, and this edition includes 19 new companies. The database includes new companies in the casual dining sector such as DanDan, the Chinese restaurant concept specialising in authentic Sichuan cuisine, plant-based restaurant Holy Carrot, and Hoppers, the JKS Hospitality-backed, Sri Lankan concept. Premium Club subscribers also receive access to five additional databases: the New Openings Database, the Turnover & Profits Blue Book, 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 chief operating officer – editorial, 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.

Marco Pierre-White-backed dynamic pricing dining app secures new funding to support UK expansion: EatClub, the Marco Pierre-White-backed dynamic pricing dining app, has raised AUS$27m (£14.1m) in new funding to support its expansion in the UK. The Australian business launched in London last year. The round for EatClub was led by existing Melbourne investor Marbruck, with support from other previous backers EVP and Co:Act. Reports suggested the startup’s valuation has doubled to around $200m in less than a year with the new funding. EatClub previously raised an $18.2m (£8.8m), led by Co:Act, in May 2025 to support its UK launch. The app allows restaurants to drop exclusive offers during quieter periods – “helping fill seats, stabilise revenue and reduce waste with zero disruption to operations”. EatClub was founded in 2017 and backed early by Pierre White and works with around 1,000 restaurants in Britain.

Firm investing £1bn in hotels in London’s Mayfair names former chancellor as director: A new Middle Eastern fund that plans to invest more than £1bn in two luxury hotels in London’s Mayfair has appointed former chancellor Nadhim Zahawi as a director. Evolution Investment Fund has acquired a leasehold interest in both London Marriott Hotel Grosvenor Square and a development site with full consent near New Bond Street. The group has made a total capital commitment of approximately £1.1bn including development costs. The family-backed investment fund, based in the British Virgin Islands, said that it marked a “significant vote of confidence in London’s long-term growth prospects and as a destination for world-leading experiences”. It has appointed Zahawi as director of the acquisition entities. Evolution was launched in 2025 by the Shanshal family, who live in the UAE and have extensive business interests across the Middle East. Evolution aims to acquire and develop prime locations in “gateway cities” and is also involved in logistics, telecoms, car dealerships and construction. London Marriott Hotel Grosvenor Square is a 237-room, 198,000 square-foot hotel. The separate scheme at Grafton Street and Barlow Place is a 157,000 square-foot project that will include 94 hotel rooms and six luxury residences. The Shanshal family told The Times: “Our first two acquisitions in Mayfair are much more than prime London assets; they represent our long-term conviction in the enduring quality, resilience and global appeal of this magnificent city. We plan to invest significantly in these locations, driven by a firm belief in their exceptional long-term appeal.” Zahawi, who fled Iraq as a child, co-founded the polling firm YouGov in 2000 before he became the Conservative MP for Stratford-upon-Avon in 2010. He eventually served as chancellor under Boris Johnson, but was dismissed as Conservative Party chairman in 2023 after breaches to the ministerial code for failing to disclose that HM Revenue & Customs was investigating his tax affairs. In January, Zahawi defected to Reform.