Pub and bar concept Loungers has committed £10m to open 16 new sites this year, the company has said on the launch of its 100th site.
The Sorrento Lounge in Moseley, Birmingham, follows the business’s community-led concept, an approach Loungers credits with its success in a tumultuous market.
Loungers aims to offer its customers all-day value for money in a unique “home-from-home” environment and atmosphere.
There are seven other Loungers in the Birmingham suburbs, showcasing the business’s appeal, it said.
‘Delicious food and drinks’
“Loungers has outperformed much of the hospitality sector over recent years, delivering rapid growth to a clear strategic plan driven by the business’s core philosophy that encompasses more than just the delivery of delicious food and drinks,” the company said in a statement.
Loungers was revealed as the UK’s fastest-growing pub company by The Morning Advertiser’s sister title MCA this month.
The Nick Collins-led group grew turnover in its most recent financial year by 34% to £91.8m, narrowly beating the growth rate of New World Trading Company, which recorded a 33% uptick to £40.1m.
The figures are recorded in the latest rankings though MCA’s Operator Data Index, which sets a minimum qualifying turnover of £10m.
Loungers CEO Nick Collins
Of the new opening and expansion plans CEO Nick Collins said: “Our out-performance is testament to the great contribution from our teams, but we certainly don’t take it for granted.
“From a single site in the suburbs of Bristol to our 100th Lounge, the core principles of the business have never changed. We will continue to open new sites ensuring that the values that have driven our success to date are not compromised.”
The company’s first sites were launched in city suburbs and towns with high residential densities, with the aim of providing places close to home that people can enjoy.
Loungers also operates the Cosy Club bar and restaurant brand, which has 21 sites with plans to open up to five each year.
