Story of the Day - 17 March 2026
Luke Johnson – ‘even in the midst of mayhem there can be shining investment opportunities, but sector materially more challenging’
Serial sector investor Luke Johnson (pictured) has told Propel that even in the “midst of mayhem” there can be “shining investment opportunities”, but after around 45 years of involvement in the industry, he believes it is “materially more challenging” and the only deals that are getting transacted are ones “where the sellers are being very realistic about price”. Speaking on Propel’s In Conversation podcast, Johnson also said that with one of his most recent investments – the Revel Collective – he made a mistake of thinking that the challenges facing the late-night sector were “going to be easy to fix”.
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Propel Exclusive Report
Propel's Experiential Leisure Report is available now
Propel 500 is back for the second year. It brings together the top 500 players shaping the industry, offering not only comprehensive listings but also deep insights into the forces driving growth, innovation, and transformation across the sector.
Propel 500 provides critical insights into the companies leading the charge in hospitality, including turnover, number of sites, key staff, and more.
The 45,000-word report also includes exclusive analysis providing a full understanding of the market’s dynamics, as the top companies in the sector shift position after a challenging year. Mark Wingett reviews the mergers and acquisitions changing the shape of the Top 500 as size increasingly matters. Katherine Doggrell examines the key developments in UK hotels and looks into one of the sector’s brightest lights; experiential leisure. Tim Street dissects the UK’s rapidly developing franchise market. Data expert Mark Bentley, business development director at HDI, looks at emerging growth sectors, and Meaningful Vision founder Maria Vanifatova analyses the latest trends in the quick service restaurant market.
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17 March 2026
Exclusive – Coffee House secures further £7m investment from AJ Bell founder and increases target to in excess of 200 sites
North west independent coffee shop Coffee House has secured a further £7m investment from AJ Bell founder and increased its target to in excess of 200 sites. Propel revealed in 2024 that the brand, which was founded in 2011 by brothers Chris and Stephen Shelmerdine, had secured a £4m investment from AJ Bell and was targeting growing to 80 sites.
17 March 2026
Tilray Brands acquires BrewDog’s US operations
US-based Tilray Brands, which earlier this month acquired the global intellectual property rights of BrewDog, its Aberdeenshire brewery and 11 of its bars in a £33m deal, has completed the acquisition of the Scottish brewer and retailer’s US business. The deal, which follows one for BrewDog’s Australian operation, includes BrewDog’s brewery, pub and hotel in Columbus, Ohio, as well as the pubs in New Albany, Ohio; Cleveland, Ohio; and Las Vegas, Nevada.
17 March 2026
Cupp founder aiming for 200 sites in India after making international debut
Lee Peacock, founder of bubble tea brand Cupp, has said he is aiming for 200 sites in India after the brand made its international debut over the weekend. The company, which signed a development deal for India a year ago this month, kicked off its growth in the country with a launch in Navanirman Nagar Colony, Jubilee Hills, Hyderabad.
17 March 2026
UKHospitality – Youth Jobs Grant ‘helps address a major cost challenge for hospitality businesses’
UKHospitality has said the government’s proposed Youth Jobs Grant “helps address a major cost challenge for hospitality businesses”. Under the plans, firms will get a £3,000 grant for every person they take on aged 18 to 24 who is on benefits and has been looking for a job for six months or more.
17 March 2026
Costa commits £3.5m investment to Scotland as it reaches 200-store milestone
Costa Coffee is planning a “major expansion” across Scotland, committing more than £3.5m of investment and opening up to ten new stores in 2026. The company said the new stores will create more than 70 jobs and take Costa’s total Scottish retail estate to more than 200 stores, which it said is “a signal of its long-term confidence in Scotland as a key growth market”.
17 March 2026
Harry Goss steps down as head of foodservice at sector investor McWin
Harry Goss (pictured) has stepped down as partner and head of foodservice at McWin – which backs sector operators including fast-growing bakery brand Gail’s, affordable steak concept Flat Iron and Danish-Japanese premium restaurant group Sticks’n’Sushi – Propel has learned. Goss has played a significant part in a number of key sector deals since he joined McWin from Nomura Bank in November 2022, aside from the aforementioned businesses, Goss also played a part in McWin’s investment in Big Mamma Group and the master franchise deal with global sandwich brand Subway, which will result in the opening of almost 600 new restaurants across France, the Czech Republic, Luxembourg and Belgium.
17 March 2026
McDonald’s UK launches campaign that challenges stereotypes about young workers
McDonald’s UK & Ireland has launched a new advertising campaign celebrating its young employees and challenging stereotypes around younger workers, as it said one in three of its managers is under 25. The campaign is built around the tension that, while society at large often dismisses young people and reduces them to stereotypes – “lazy, unable to communicate” – McDonald’s sees their potential and recognises they are “essential in the running of thousands of businesses in communities and on high streets up and down the UK and Ireland”.
17 March 2026
Hotels in London and Manchester see values fall 3.4% in 2025 due to supply increase and rising costs
Hotels in London and Manchester both saw values fall 3.4% in 2025, according to the annual Hotel Valuation Index (HVI), from global hotel consultancy HVS. The report said despite strong trading fundamentals, new supply coming on stream, coupled with a rise in overheads such as national insurance, minimum wages and property taxes, had led to the reduction.
17 March 2026
Doner Shack set to open first US site in May
Doner Shack, the Berlin fast casual kebab brand, is set to open its first US site in May. Doner Shack signed up its first US franchisees – Summet Kainth (Las Vegas) and Hassan Uzzaman (Dallas-Fort Worth) – a year ago this month and has since gone on to sign development deals for 16 US states.
16 March 2026
Exclusive – Stonegate set to test market with circa 300-strong pub portfolio
Stonegate Group, the UK’s largest pub company, is set to test the market with a package of circa 300 pubs, Propel has learned. The pubs are understood to be part of the 1,034-strong “platinum” package Stonegate has been exploring options for, including a further refinancing as well as partial or full sale.
16 March 2026
Boston Tea Party refinances, well placed to ‘benefit from shift away from both evenings and alcohol’
All-day dining casual cafe brand Boston Tea Party has refinanced its long-term debt and told Propel it delivered sustained like-for-like growth in the year to 22 October 2025, and was well placed to “benefit from a shift away from both evenings and alcohol”. The 22-strong group recorded a 34% year-on-year uplift in Ebitda to £1.09m, with turnover of £21,329,110 (2024: £21,090,151).
16 March 2026
Langan’s CEO – ‘we’re open to taking the concept overseas’
Graziano Arricale, chief executive of Langan’s, has told Propel the team behind the iconic London brasserie is “open to taking the concept overseas”. Arricale, formerly operations director at Richard Caring’s Birley Clubs, heads up the group that acquired Langan’s – which was co-founded by Michael Caine in 1976 and became a celebrity haunt in the 1980s – five years ago.
March 2026 ~ Premium Club
Premium Club readers to receive all the videos from Restaurant Marketer and Innovator. Propel Premium Club members are to be given access to the entire recording of the 2026 Restaurant Marketer & Innovator Conference. Members are now able to access all the videos of the event.
James Hacon, managing partner at Think Hospitality.
Maria Vanifatova, chief executive and founder of Meaningful Vision.
Mark Bentley, business development director at HDI.
Sara McKennedy, managing director at Coco di Mama, Éadaoin McDonagh, chief operating officer at White Rabbit Projects, Laura Irving, managing director at JKS Restaurants, and Marcel Khan, chief executive at Fulham Shore. Romy Miller, chief marketing officer at Knoops.
Pho: Libby Andrews, marketing director at Pho, talks to Charlotte Mair, founder and managing director at The Fitting Room. Dishoom: In conversation with Fleet Street Communications chief executive Mark Stretton, co-founder Kavi Thakrar.
Alexis Melikov, chief executive of Tigermilk. Jordan Graham, founder of Sugar Snap, in conversation with Paul Catterson, director at Orto Pizza, Sam Shephard, founder at Juice Jar, andPeter Coleman, co-founder of Seed
Aqua at 25: stories beyond the view: Marie Guenot, marketing director at Aqua Restaurant Group. Michael Radley, co-founder at Joli, is joined by Hilary Ansell, marketing consultant and interim marketing director at Wasabi, Hester Mitchell, digital marketing manager at Bleecker Burger, and Tom Patrick, marketing director for Banana Tree and Las Iguanas at Big Table Group.
Evie Horsell, head of communications UK & Ireland at Big Mamma Group
Russell Danks, managing director at Laine Pub Co,
Kiran Quinn, group marketing director at RedCat Hospitality
Laura Lewis, marketing director at Arc Inspirations.
David Tester, head of marketing at Franco Manca, is joined by George Lamb, co-founder of Wildfarmed
Five concepts, one vision — Incipio at Olympia: Rory Graham, marketing and brand director at Incipio Group.
Jayson Perfect, chief operating officer at Butcombe.
What’s Next in Hospitality? The 2026 Playbook: James Hacon, Managing Partner at Think Hospitality. Katy Moses, managing director at KAM. Heleri Rande, partner at Think Hospitality, in conversation with Chris Miller, founder at White Rabbit Projects, Loui Blake, co-founder at Long Lane, and Nicci Clarke, marketing and culinary director UK at Sodexo Live! Anthony Knight speaks to Tom Kidd, founder of SetList.
When hospitality meets entertainment. Thinking out of the box: Michelle Farrell, chief growth officer at Boxpark.
The neighbourhood effect: Marshall Dallas, Partner at Think Hospitality, speaks with Ankur Wishart, co-founder at Boxcar, and India Filippidis, head of marketing at Boxcar & The Italian Greyhound. Madeleine Phillips, marketing director at Various Eateries.
Deborah Jones, senior client success manager at Proinsight, speaks to Michael Farquhar, chief operating officer at ETM Group.
Krishnan Doyle, founder at COREcruitment.
The multi-concept challenge: Markus Thesleff, founder of Thesleff Group.
Dave’s Hot Chicken’s digital activation: Peter Critchley, UK chief executive at Trison, is joined by Keyana Mohammadi, head of marketing at Dave’s Hot Chicken. Tessa Graham, group brand director at Tashas Group. Olivia Fitzgerald, managing director at 125 Data & Insights, speaks with Tom James, managing director at Bill’s. Dan Brookman, chief executive and co-founder of Airship & Toggle. Daniel Bennett, global head of behavioural science at Ogilvy Consulting: Originality in the age of AI. Heleri Rande, partner at Think Hospitality, in conversation with Afroditi Krassa, founding director of Afroditi, and Bob Conwell, managing director at Mr Lyan Studio. Digital marketing for growth. Carey Benn, chief executive at Guestwise, in conversation with Naddy Onions, marketing director at Prezzo Italian, James Metcalfe, sales and marketing director at Urban Pubs & Bars, and Ewa Turney, senior product lead at Mitchells & Butlers. Aaron Morgan, head of marketing and Paul Jones, head of IT at The Alchemist. Dojo: Jon Knott, head of data projects at Dojo. Laura Vana, associate partner at Think Hospitality, in conversation with Kat Schofield, sales and marketing director at Permanently Unique Group, Holly Hilton, marketing director at Market Place Food Halls, and Ria Pattni, director of marketing at JKS Restaurants. Laura Vana, associate partner at Think Hospitality, in conversation with Tasos Gaitanos, co-founder at Brother Marcus, Alex Large, co-founder at Brother Marcus, Tommy Giraux, head of restaurant systems at Honest Burgers. Joe Comiskey, digital director at Stonegate Group. Joel Robinson, chief executive at Openr, in conversation with Toby Herbert, head of IT at Hall & Woodhouse, Sara McKennedy, managing director at Coco di Mama, and Mark Bentley, business development director at HDI. Sophie Clarke, UK team lead at Popmenu, in conversation with Charlie Wood-Jones, Co-founder at Cawsburger. Dan Brookman, chief executive at Airship and Toggle. Mark Warburton, founder of Cow & Sow and Alan Armstrong, fractional marketing director.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
March 2026 ~ Premium Club
Propel 500 is back for the second year. It will bring together the top 500 players shaping the industry, offering not only comprehensive listings but also deep insights into the forces driving growth, innovation, and transformation across the sector. Propel 500 will provide critical insights into the companies leading the charge in hospitality, including turnover, number of sites, key staff, and more. The 45,000-word report will also include exclusive analysis to provide a full understanding of the market’s dynamics, as the top companies in the sector shift position after a challenging year.
Mark Wingett will review the mergers and acquisitions changing the shape of the Top 500 as size increasingly matters.
Katherine Doggrell will examine the key developments in UK hotels and look into one of the sector’s brightest lights; experiential leisure.
Tim Street dissects the UK’s rapidly developing franchise market.
Data expert Mark Bentley, business development director at HDI, will look at emerging growth sectors, and Meaningful Vision founder Maria Vantifatova will analyse the latest trends in the quick service restaurant market.
Propel 500 will be released on Friday, 9 January at 9am and is
£595 plus vat.
Existing Premium Club Members can receive it on Friday, 9 January at 9am for
£395 plus vat.
Premium Club members will receive the report for free on Friday, 27 February at 9am.
Pre-order Propel 500 today by emailing: kai.kirkman@propelinfo.com
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
March 2026 ~ Premium Club
Premium Club Opinion provides weekly insights from industry leaders. In this current edition, Propel founder Paul Charity gives his insights on the personal attributes that allowed his brother Kevin to build a £100m-turnover business from scratch. Paul reflects on his family’s journey from a small tea shop in 1970s Boston to building the Coaching Inn Group, now reaching £100m turnover. His brother Kevin’s leadership, resilience, and hands-on learning drove growth from pubs to profitable coaching inns with rooms. Success came from genuine hospitality, kindness to staff, careful investment, and adapting the business model across generations. Meanwhile, Propel deputy editor Tim Street talks to Graziano Arricale about saving the Langan’s brand as it gears up to celebrate its 50th anniversary. Langan’s Brasserie, founded by Michael Caine and Peter Langan, was a celebrity hotspot in 1970s–80s London. After declining and closing during Covid, it was acquired and restored by restaurateur Graziano Arricale. A major refurbishment revived the venue while preserving its heritage, focusing on improved food, service, and selective international growth. Also, hospitality consultant Simon Anderson explains the reasons behind the growing success of food halls. UK food halls are booming, with venues rising from 114 to 149 between 2025–2026 (31% growth) and 65 more in development. Strong revenues, minimal closures, and flexible operating models attract investors. Growth is expanding beyond major cities into smaller towns, though rising costs and potential market saturation remain key risks. Lastly, George Davidson, founder and director at The Lantern, explores Chick-fil-A’s return to the UK. His first visit to Chick-fil-A highlights its strong food quality, friendly service, bright restaurant design, and appeal to female diners and families. As US brands like Wendy’s and Popeyes expand in the UK, success will depend on adapting American concepts to British consumer preferences.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
march 2026 ~ Premium Club
Mark Wingett’s Premium Club Diary delivers insider sector gossip every week to Premium Club members. In this week’s edition, Tilray acquired key assets of BrewDog for £33m, including global intellectual property, UK brewing operations and 11 brewpubs. At the same time, 38 UK bars closed immediately, resulting in 484 job losses. The deal follows earlier failed negotiations between the companies, when a potential acquisition was reportedly valued at hundreds of millions. BrewDog co-founder James Watt responded publicly, highlighting that he has not sold shares since 2017 and defending the company’s strong historical growth and the treatment of early “Equity Punk” investors. In wider hospitality leadership news, industry executive Adam Gregory has departed Cosmo Restaurant Group after less than a year as group managing director. Meanwhile, prominent dealmaker Harry Goss has left investment firm McWin, which backs brands including Flat Iron and Sticks’n’Sushi. Also, Russell Danks and communications specialist Caroline Southwell have joined PureGym, working under chief executive Clive Chesser. Looking back at industry history, Adam Wills marked 25 years since launching Gourmet Burger Kitchen in London, reflecting on its rapid growth before passing through multiple owners. Elsewhere, Timpson is attracting attention with a refurbished hotel and après-ski venue in Morzine, France. Meanwhile, restaurateur Jeremy King stressed the value of inclusive dining while reopening Simpson’s in the Strand, arguing that restaurants thrive when they attract a wide mix of guests.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
16 March 2026
UKHospitality CEO adds to calls for state support amid Iran crisis
The government must deliver financial help for hospitality businesses hit by the inflationary impact of the war in Iran, UKHospitality chief executive Allen Simpson (pictured) has warned. In a letter to energy secretary Ed Miliband, seen by Sky News, Simpson urged him to consider a broad package to support the sector through the conflict.
16 March 2026
Chick-fil-A begins search for more UK franchisees
US brand Chick-fil-A, which made its return to England last year with an opening in Leeds, has begun the search for more UK franchisees as it looks to expand beyond its initial five-site opening target here, Propel has learned. Chick-fil-A, which made its debut in London earlier this month, in Kingston-upon-Thames, has opened four sites in the UK as part its initial target of opening five restaurants here over a two year-period and to invest $100m in the market throughout the next ten years.
16 March 2026
Adam Gregory steps down as Cosmo Restaurant Group MD
Adam Gregory, formerly of Turtle Bay, Wagamama and Be At One, has stepped down as managing director of the Cosmo Restaurant Group, Propel understands. Gregory joined Cosmo, which operates 23 sites across the UK and Ireland under its eponymous brand, and under the Umami and Firebrand formats, at the start of last year.
16 March 2026
TFE Hotels – ‘aparthotels will never replace hotels but are a big part of the future’
Australian hotel company TFE Hotels, which made its debut here at the end of last year, has told Propel that the aparthotel model will never replace hotels but are “a big part of the future” for the sector. The company, which has circa 100 hotels across Australasia, the Far East and Europe, launched into the UK in November with the opening of The Hobson Cambridge by Adina in Cambridge and followed that by opening The Wellington Glasgow by Adina in Glasgow in December.
16 March 2026
Inn Collection hires Antony Doyle as new operations director
Inn Collection Group has hired Antony Doyle, formerly of Loungers and the New World Trading Company (NWTC), as its new operations director. Doyle joins the 31-strong Inn Collection Group, after more than a year and a half at NWTC as group operations director.
16 March 2026
Middlesbrough FC owner's hospitality arm sees losses increase to £7.1m, paid £4m for North Yorkshire hotel and spa Feversham Arms
The hospitality arm of Middlesbrough Football Club owner and chair Steve Gibson saw its pre-tax losses increase to £7,118,123 in the year to 30 June 2025 compared with £4,729,788 the previous year. The portfolio includes Rockliffe Hall, a five-star resort hotel with spa, golf course and multiple restaurants on the County Durham and North Yorkshire border, The Pheasant Hotel, a country inn located in Harome, North Yorkshire, and the Feversham Arms Hotel & Verbena Spa in Helmsley, North Yorkshire, a 33-bedroom hotel and spa that Gibson acquired out of administration post year end, in August 2025.
13 March 2026
Azzurri Group to explore sale of Dave’s Hot Chicken’s European franchise
Azzurri Group, TowerBrook Capital Partners-backed hospitality investment platform behind ASK Italian, Zizzi, Coco di Mama and Boojum, is reportedly set to explore a potential sale of the UK and European franchise rights for US brand Dave’s Hot Chicken. Bloomberg reports that a process could launch later this year.
13 March 2026
Tim Hortons UK & Ireland extends master franchise agreement to 2045, issues £26.7m equity for future growth
Tim Hortons UK & Ireland has extended its master franchise agreement with brand owner Restaurant Brands International (RBI) to 2045 and issued £26.7m equity to help support future growth. The company said the agreement “provides the foundations for the next phase of the group’s sustainable growth plan”.
Watch highlights from this year’s Propel summer conference and party.
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March 25th 2026
Propel Multi Club — New directions in a period of strong headwinds
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