Propel Newsletter Archive Page

The Wolseley’s branching out with New York hotel: A pillar of London’s restaurant scene hopes to break America after its parent company unveiled plans for a first Wolseley-branded hotel in New York. The Times reports that owner Minor Hotels will open a 76-bedroom site – including an all-day brasserie – near Times Square next year. After spending more than two years searching for the right site, Dillip Rajakarier, chief executive of Minor International, the Thai parent company of Minor Hotels, said that the New York property “fits with the Wolseley brand to a T”. He suggested that after launching in America “it will be easier for us to take the Wolseley to other parts of the world”. The Wolseley’s owner, the Bangkok-listed Minor International, bought a majority stake in Corbin & King, the restaurant company founded by Chris Corbin and Jeremy King, in 2017. About four years later it used its controlling stake to tip the business into administration and outbid the pair in an auction to take control of the Wolseley. In October 2023 it opened the Wolseley City in the former House of Fraser department store overlooking London Bridge. Last summer it unveiled plans for four new hotel brands, including the launch of the Wolseley Hotels. Over the next five to seven years, Minor, which has more than 640 hotels and resorts and more than 2,700 restaurants, is aiming to have at least five Wolseley outposts, both standalone restaurants and hotels. The group plans to introduce The Wolseley in a number of cities around the world but “it won’t be found in secondary or tertiary locations”, Rajakarier insisted. The company has signed for two restaurants in the Middle East and is looking at other key markets, “including the UK, obviously, as it is where The Wolseley was born”. “Some people will say that is a low number, but for us we want to be very, very selective,” Rajakarier said. “In terms of having 50 Wolseleys or something, that is not the goal for us.”

Premium Club subscribers to receive latest Turnover & Profits Blue Book tomorrow: Premium Club subscribers will receive the latest Turnover & Profits Blue Book tomorrow (Friday, 13 March), at 12pm. The database will feature 13 new companies and 59 updated accounts. The database now features a total of 1,244 companies, with 759 in profit and 485 making a loss. The Blue Book is updated each month and ranks companies by turnover, profit and profit conversion, listing directors’ earnings for the past five years. Premium Club subscribers also receive access to five other databases: the Multi-Site Database, the New Openings 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 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.

Pret opens new shop in Westminster tube station as it celebrates 40 years in London: Pret A Manger has opened a new shop just steps from some of London’s most popular landmarks and the heart of government as the company celebrates 40 years since its first opening in the capital. The company, which operates circa 250 sites in the capital, opened its latest site in Westminster tube station, in place of the former WH Smith. To mark the occasion, Pret’s chief executive, Pano Christou, joined the shop team to welcome and serve customers who stopped by. Christou said: “Pret has been proudly serving Londoners freshly made food and organic coffee for the past 40 years. We’re delighted to be opening a new shop amongst such iconic landmarks and look forward to serving customers a quick bite or coffee to power them through a busy day in the capital.” Christou will be among the speakers at the first Propel Multi-Club Conference of 2026, which is open for bookings. Christou will talk to Propel chief operating officer – editorial, Mark Wingett, about how the business has become a global brand, with £1 in every £4 spent outside the UK, and discusses how it has consistently pushed the sector forward – from pioneering food redistribution at scale to reimagining loyalty through subscription models, to redefining what premium convenience looks like in a post pandemic world. The conference takes place on Wednesday, 25 March, at The Park Plaza, Victoria. For the full speaker schedule, click here. Operators can book up to three free places per company while Premium subscribers who are operators can book up to four free places. To book, email kai.kirkman@propelinfo.com.

Azvalor Asset Management doubles stake in Fuller’s: Spanish investment firm Azvalor Asset Management has this morning increased its stake in Fuller’s from 5.12% to just over 10%. The Madrid-based asset manager now holds 3,192,842 direct voting rights in the London-listed pub and hotel operator. Prior to this acquisition, Azvalor held a 3.129% stake in Fuller’s. Last summer, Azvalor took its stake in Fuller’s from 3.129% to 5.12%.

Sarah Sergeant to step down as Young’s non-exec: Young’s has announced that Sarah Sergeant, who was appointed to its board as an independent non-executive director in 2023, has decided to step down with effect from 31 March 2026, to allow more time to focus on her other commitments. The company said it had initiated a search process for an additional independent non-executive director and will provide an update in due course. Steve Cooke, non-executive chairman, said: “On behalf of the board, I would like to express our sincere thanks to Sarah for the contribution she has made to the company during her tenure. Sarah’s commitment, insight and support have been greatly valued by the board, and we are grateful for the role she has played in the company’s progress. We wish Sarah every success in the future.”

Workers’ rights law ‘will hit Gen Z most’: Gen Z is set to be among the worst hit by new workers’ rights legislation, which risks fuelling Britain’s youth unemployment crisis, retailers have warned. The British Retail Consortium (BRC), the sector lobby group, told The Times that flexible and entry-level work would “likely be the first to be scaled back” if businesses reduced hiring in response to the government’s Employment Rights Act, with an “unintended consequence” being fewer opportunities for young people. The Employment Rights Act received royal assent in December and includes a right for workers on zero-hours and low-hours contracts to request guaranteed working hours. The legislation also includes a day-one right to statutory sick pay, shorter qualification periods for unfair dismissal and new rights to ease trade union recognition. The BRC commissioned a survey of 2,000 adults, which found that 70% of 18 to 29-year-olds rank flexibility at work as important, rising to nearly three quarters among those in part-time roles. That compares with 52% of adults across the board. “Local, flexible jobs are important first steps into work for young people across the country,” Helen Dickinson, the BRC’s chief executive, said. “Whether it is a Saturday job to earn extra cash around studies, or doing shifts while balancing caring responsibilities or other life commitments. These roles are relied upon and valued by so many.” She warned that with youth unemployment on the rise, the government “must ensure reforms double down on tackling bad practices and don’t choke off the routes into a first job for the next generation”. Official estimates last month suggested that nearly a million 16 to 24-year-olds were not in any form of education, employment or training.