Biggest Lounge opening to date 'proud milestone'
Ritorno Lounge on the city’s harbourside has an outside terrace that overlooks Pero’s Bridge as well as a 10.5-metre-long feature bar, a mural that pays homage to Lounges across the nation. Furthermore, in a first for Lounges, the site has its own private dining room.
The site will have the group’s trademark lighting, oversized vintage sofas, upholstered chairs and eclectic artwork.
In addition, Loungers also revealed it opened its 36th Cosy Club in Sheffield, its 266th site overall.
Proud milestone
On the Bristol opening, Loungers head of community Gemma Irwin said: “To be opening our 28th Lounge in such an incredible spot in our beloved city of Bristol is incredibly special and a proud milestone for us.
“There are many great places to hang out in this part of Bristol so we are delighted to now be in the position to offke sales since its financial visitors the option of enjoying our fabulous food, drink and excellent hospitality.”
Earlier this month (July), the group reported record revenue with a 5% rise in like-for-like sales since its financial year ended.
It achieved revenue of £353.3m – up a quarter (24.7%) on the previous year when it opened a record 36 new sites during the year, which was seven venues more than the year before.
Ambitious roll out
At the time, CEO Nick Collins said it had been another year of “outstanding strategic, operational and financial progress” for the business.
He added: “Our consistent and market-leading like-for-like sales growth coupled with our improving margins are allowing us to achieve record levels of profits to reinvest in our ambitious roll-out programme.
“During the year, we opened 36 new sites, created 1,200 new jobs and invested around £39m in high streets and communities across the UK.
“We have demonstrated yet again the hospitality sector is capable of making a really positive economic and social impact on parts of the country that are otherwise all-too-often overlooked.”
He went on to urge the Government to address the “wildly unfair” tax burden shouldered by the industry and called for an overhaul of the business rate system.
- Nick Collins is speaking at our next MA Leaders event in Oxford on 2 October. If you're a multiple operator, find more information about the event and sign up here now.
