1. Acquisitions
There were a number of deals announced in the past year with one of the biggest being Admiral acquiring 37 tenanted pubs from Fuller’s in May for £18.3m.
Chester-based business Admiral said the move would strengthen its portfolio in the south-east as part of its strategy to drive “profitable expansion”.
This wasn’t the only purchase by the pub company this year as in September, it bought 18 freehold, wet-led Marston’s pubs.
Marston’s also sold 19 tied tenanted pubs to Red Oak Taverns in the spring of this year.
Meanwhile in the summer, Fuller’s acquired Lovely Pubs in a £22.5m deal. The seven pubs, six of which were freehold, were located in a variety of commuter areas in Warwickshire.
In November, it was revealed Loungers was set to be acquired by Fortress Investment Group – owner of Punch Pubs – for a cash offer of about £350.5m.
2. Business rates
Various trade bodies had been lobbying the Government for support on business rates. A joint survey from UKHospitality, the British Institute of Innkeeping and the British Beer & Pub Association prior to Labour’s October Budget found 54% of hospitality firms would reduce their employment levels if the then 75% relief ended.
On 30 October, Chancellor Rachel Reeves announced the relief will be replaced with a 40% reduction from April next year however, the system is set to be overhauled in 2026/27.
Following this, industry leaders told the Non-Domestic Rating Bill Committee that business rates have continued to be a “barrier to investment” for the sector, leaving pubs “unique disadvantaged” during a consultation at the House of Commons this month (December).
3. People changes
In August, Punch Pubs announced chief operating officer Andy Spencer would be succeeding Clive Chesser as its CEO.
Chesser, who had been at the helm of the pub company for six years, stepped down to join the PureGym Group as CEO.
October brought an announcement from Stonegate Group, that it had made two ‘significant’ appointments.
Joining from Wagamama was Kay Barlett, who was appointed chief marketing officer, bringing a wealth of experience in marketing, brand, digital and loyalty.
The UK’s biggest pub company also revealed Nick Marks, who was formerly director of commercial for the business, was promoted to group commercial director, overseeing all procurement activities and leading the group’s supply chain operation.
May saw BrewDog co-founder James Watt step down as chief executive after 17 years at the helm of the business.
This was followed by CEO of the company’s bar arm James Brown leaving the business just four months later.
In the same month (September), Greene King announced a new executive board structure. According to the business, this next phase will build on its last four years’ worth of progress of business and cultural transformation, including branded portfolio development, customer-centric digital enablers such as bookings website development and Wi-Fi as well as a new app.
It meant a smaller executive board structure of seven and saw the departure of partnerships and venues managing director Wayne Shurvinton, chief marketing officer Maria Sebastian and chief communications and sustainability officer Assad Malic.
The reshaped team included Clair Preston-Beer as chief operating officer, Andrew Bush as chief experience officer, Jodie Tate as Destination Brands and Ventures managing director, Zoe Bowley as Greene King pubs managing director and Matt Starbuck as brewing and group supply chain managing director.
4. Licensing
During the summer, leaked documents seen by The Sun revealed proposals to extend the indoor smoking ban to pub gardens, outside of nightclubs, restaurant terraces, outdoor sports stadiums, children’s parks, pavements by universities and shisha bars.
However in October, it was reported Downing Street was blocking the move amid opposition by the hospitality sector.
Elsewhere in October, new tipping legislation came into force, which meant employees must be given 100% of tips.
5. Beer
Whether it was prices rocketing or emerging styles, beer was a hot topic this year. From Marston’s exiting brewing to focus on pubs to the soaring success of Guinness (followed by a reported shortage),
In April, we look a deep dive into the category with the Beer Report 2024, which included all the latest facts and stats from a plethora of experts on what’s going on across the whole of the beer market, covering world, premium and core lagers, cask ales, stout, craft beers as well as low and no offerings.
