Mon, 19 Jun 2023 | BUSINESS SALE
Hospitality brand Whitbread is reportedly selling 250 of its pub-restaurants in the UK.
According to media reports, the company, which owns the Premier Inn and Beefeater restaurant brands is said to be selling sites that are either marginal or loss-making, and most of them are located near to a Premier Inn and together are estimated to have a value of £600m.
While The Times reported that Mitchells & Butlers (M&B), who owns of Harvester, Toby Carvery All Bar One and Brown's is the frontrunner in acquiring these sites, the bar group has responded to this speculation, telling The Caterer: "As a major player in hospitality we're regularly the subject of industry speculation. But that's all this is … speculation."
Mitchells & Butlers, runs over 1,700 pubs and restaurants across the UK and in 2006, it paid £497m for 239 Whitbread pub-restaurants. Then in 2008 44 of Whitbread’s pub-restaurants were exchanged for 21 of Mitchells & Butlers Express by Holiday Inn branded hotels in a straight asset swap.
Whitbread, which has 440 pub-restaurants in the UK and is said to be looking to sell to established pub operators such as Greene King, Heineken, Marston’s and Punch.
Marston’s also recently put 61 of its freehold pubs in England and Wales up for sale after a review of its estate. The portfolio of pubs up for sale includes a mix of leased, tenanted, retail and managed pubs and business property adviser and pub specialist Christie & Co were appointed to execute this sale.
Whitbread has said that the reason for the sale is to focus on its Premier Inn hotel estate and its annual report showed that despite a rise in hotel guests the group's restaurants were trading 4 per cent below pre-pandemic levels.
Read more about opportunities to buy pubs in the UK.
Discover a charming village pub restaurant nestled in the picturesque landscapes of Oxfordshire, offering a unique opportunity to own an establishment rich in character and appeal.
LEASEHOLD
This well-established Turkish restaurant, bar, and club in the City of London offers a unique culinary journey with its fusion of Turkish, Middle Eastern, and Mediterranean flavours.
LEASEHOLD
Opportunity to acquire a well-renowned restaurant and cafe/bar located in the vibrant West End of Glasgow, offering a unique dining experience in one of the city's most desirable areas.
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.