NEOS to launch new party bar concepts with £25m investment

By MCA, eating and drinking-out market insight expert

04-Sep-2024 - Last updated on 04-Sep-2024 at 15:40 GMT

Two concepts: NEOS Hospitality took on the former Rekom business (credit: Getty/Benjamin Toth)

NEOS Hospitality, previously known as Rekom, has announced plans to launch two new party bar concepts to the UK market, with £25m in fresh capital.

The new investment will enable the business to actively target acquisitions in prime city centre locations across the UK, prioritising Birmingham, Edinburgh, Glasgow, Leeds, Liverpool, London, Manchester and Newcastle.

The two new concepts are Bonnie Rogue’s Pub, described as “fiercely confident and always-on live and loud atmospheric” party pub; while Barbara’s Bier Haus is an après ski-themed bar “bringing the mountain vibe to the high street”.

Strong results

NEOS chief executive Russell Quelch said: “Our strategic focus is to develop our party bar business. We have seen strong results throughout 2024 in our party bars, delivering 12% revenue growth versus 2023. Extended trading hours and a wide consumer base have been key to this success.

“This strong performance has given us the confidence to invest in the new concepts and grow our business over the coming months and years. We are focused on the next stage of our strategic plan to double the party bar portfolio by the end of 2025.”

NEOS said it has several new locations in sight with an acquisition imminent and a clear timeline to rebrand the existing portfolio where relevant.

Exciting phase

“This is an exciting phase for NEOS. We are confident that we have the winning formula to create seriously good fun spaces for people of all ages to eat, drink, dance, play and watch sport. Investing in our party bar concepts now will lay a solid foundation for the future growth of the business,” Russell added.

NEOS was founded in 2024 following the Rekom UK administration. The company currently operates 23 venues and employs 900 staff.