Hostmore
Coverage of strategy, brand management, and financial performance at a listed UK hospitality group operating casual dining brands. This section includes updates on leadership changes, restructuring efforts, site performance, and F&B strategy, providing insight for operators, investors, and hospitality professionals tracking the evolution of high-street restaurant portfolios and the commercial pressures shaping post-pandemic recovery.
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Apr- 2024 -16 AprilRestaurants
Hostmore to acquire TGI Fridays for £177m
Hostmore has reached an agreement for an all-share acquisition of TGI Fridays for £177m, including the business’ brand in the US which is the company’s franchisor. The parties have agreed that the proposed transaction would result in existing Hostmore shareholders holding a 36% shareholding in the enlarged business upon completion,…
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Sep- 2023 -29 SeptemberNews
Today’s news in brief – 29/09/23
Hostmore has postponed any new restaurant openings until 2025, saving about £15m in cash expenditures due to challenging trading conditions. The company reported improved cost reductions of £8.2m for the 26 weeks ending July 2, benefiting FY23 by £5.8m. H1 2023 delivered negative EBITDA of £3.8m, compared with positive £7.1m…
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29 SeptemberNews
Hostmore to defer new openings to 2025 amid challenging trading
Hostmore has revealed it has decided to delay any new restaurant openings until at least 2025, saving approximately £15m of cash expenditures, as it battles challenging trading conditions. The news comes after the group reported improved cost reductions of £8.2m, compared with the £5.9m previously announced, for the 26 weeks…
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Jun- 2023 -20 JuneNews
Hostmore appoints new non-executive director
Hospitality group Hostmore has today announced the appointment of Célia Pronto as an independent non-executive director with immediate effect. Pronto has over 25 years of experience in blue chip listed companies, private equity and venture capital backed start-ups and family-owned businesses. She has worked in subscription model businesses, as well…
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7 JuneRestaurants
TGI Fridays operator sees Q1 sales slide 3%
TGI Fridays operator Hostmore has revealed a 3% drop in like-for-like sales in the 22 weeks ended 4 June 2023, down from a 1% decline in the first 16 weeks of the year. The group maintains that like-for-like revenue and total revenue for the period remains “broadly consistent” with the…
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5 JuneNews
Hostmore appoints new non-executive director
Hostmore Group has recently announced the appointment of Helena Feltham as an independent non-executive director. Feltham has over 30 years of experience in consumer facing and people leadership roles. She has recently served as the interim non-executive chair of Ted Baker Plc, where she had also been senior independent director…
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May- 2023 -3 MayRestaurants
Hostmore to further cost cutting plans amid new CEO appointment
Hostmore has announced a further cost reduction programme that will result in £4.1m of annualised savings, in addition to the group’s £1.8m annualised savings, as well as the appointment of Julie McEwan as permanent CEO of the group. The cost reduction announcement brings the total aggregate cost reduction to £5.9m…
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Apr- 2023 -21 AprilRestaurants
TGI Fridays axes free meals for staff
TGI Fridays has announced that staff who work a shift longer than 10 hours will no longer receive free meals. The company stated that staff would instead receive a 50% discount on all menu items, something that all staff received when working less than 10 hours. Unite Hospitality has launched…
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Jan- 2023 -26 JanuaryPeople
Hostmore chairman to step down
Hostmore has announced that its chairman and non-executive director, Gavin Manson, will be retiring at the end of the annual general meeting on 25 May 2023 to focus on his other executive commitments. As a result, the board has appointed Stephen Welker, a current non-executive director, has agreed to become…
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Oct- 2022 -27 OctoberCatering Companies
Hostmore appoints non-executive director of Occupyd Limited
Hospitality business Hostmore has announced the appointment of its CEO Robert B Cook to the role of non-executive director of Occupyd as of this month, following approval from the company board. Occupyd Limited, which trades as Obvlo, is a new hospitality infotech company which reportedly aggregates places to go and…
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