By M&C Report team2012-09-25T06:56:00+01:00
Travel hub operator SSP has simplified its menus by up to 50-60% during the pandemic, which could result in smaller menus remaining post-covid, according to an analysts’ note by Peel Hunt.
Q1 is traditionally the quietest quarter in licensed retail; it is when tenants are most likely to hand back the keys. Sadly, without any additional government support and with the rent moratorium ending in March (with 15 months of rent due in some cases), many private companies could run out of liquidity. Many sources have suggested a 20-30% supply reduction. We are more optimistic than this due to corporate activity. The speed and direction of capital reallocation will be critical to this, in our view.
Marston’s has announced a deal that will see it operate 156 Brains pubs in Wales. The combination of leased and management contract arrangements consists of a freehold estate of 86 managed and 55 tenanted pubs, together with a leasehold estate of 15 managed pubs and bars. It employs around 1,300 people. Marston’s already has 106 pubs in Wales but plans to continue to operate the existing 156 Brains pubs under the Brains brand. Marston’s will operate the 141 freehold pubs on a leasehold basis from February 2021, with rent chargeable from April 2021. The majority of these will be on long lease agreements of 25 years. The deal is set to complete in February 2021.
2020 will go down as a memorable year for all the wrong reasons . No words can express the devastation felt across hospitality, particularly the recent developments which introduced a de facto lockdown in the shape of Tier 4 across swathes of the country. Bookings were eviscerated, supplies were wasted, ...
NewRiver CEO Allan Lockhart has said the business has proved to be “resilient” during a period of “unprecedented disruption”. Announcing its half year results, he said the business had seen a “significant increase in leasing activity, with over half a million square feet of transactions completed, which has led to occupancy in our retail portfolio increasing to more than 96% during the period. This reflects both our affordable rents and focus on essential and convenience retail.
Less than 10% of operators are “very confident” they will reopen on 3 December, according to the latest Hospitality Leaders Poll carried out by Lumina Intelligence for MCA, the Morning Advertiser and Big Hospitality. A further 15% were “not sure at all”, though 33% are “fairly sure” they will reopen once the restrictions are lifted. Meanwhile the industry is split over the future, with 32% thinking they will go bust if existing lockdown measures continue into Spring. While 38% are unsure, just 30% are confident they will survive as a business should things continue as they currently are.
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