M&B launches new steakhouse brand
Managed operator Mitchells & Butlers is to convert 11 of its newly acquired 239 Whitbread venues to a new steakhouse brand.
The company has been working on the brand - for which no name has been disclosed - for several months.
All 11 venues to be converted to the new concept are former Beefeater venues.
M&B chief executive Tim Clarke said: "This is something we've been working on in anticipation of this deal - a high quality, pure steakhouse. We don't share the view that the high-quality steakhouse is dead."
The MA has also learned that between 70 and 80 of the 239 Whitbread sites will be converted to either Vintage Inns or premium country dining formats.
The conversion plan reflects the number of sites within the Whitbread portfolio situated in affluent suburban commuter areas.
M&B has 20 or so sites trading already under its Project S urban country concept, developed in partnership with entrepreneur Paul Salisbury.
It is believed M&B has been piloting another up-market format with price points midway between Vintage Inns and Salisbury's premium country dining format.
Five of the Whitbread pubs will also be turned over to the company's franchise division.
"They're sites where we feel we can't add a lot of value," said Clarke.
Some observers have wondered if M&B might sell late-night venues such as Reflex and Flares, where like-for-likes are marginally negative, to focus on the residential and suburban market.
Denying this was under consideration, Clarke said: "They continue to make very high returns."
