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By M&C Report team2004-01-16T00:00:00+00:00
Brewer and pub operator Adnams has said it is keeping “a weather eye” firmly on the long-term future of its pubs and their tenants, and anticipates pubs returning to paying full rent later this year, provided there are no further regional or national lockdowns.
City Pub Group has acquired a 49% stake in Kensington Park Hotel and increased its shareholding in Mosaic Pub and Dining.
Brewer, pub operator and retailer Adnams saw sales down for the 12 months to 31 December, from £74.7m in 2019, to £50.6m in 2020. The company posted a £3.7m operating loss, compared to profit of £719k for the same period last year.
Moët Hennessy is anticipating a “post-Covid renaissance” as consumers flock to newly reopened bars and restaurants and opt for premium brands to celebrate.
Several months of falling food and non-alcoholic drinks prices are expected to come to an end as the hospitality industry reopens, the latest edition of the Foodservice Price Index from CGA and Prestige Purchasing reveals.
The hospitality sector’s supply chain is facing collapse, placing over 300,000 jobs at risk, without immediate financial support from Government, new research has revealed.
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