The company, formally known as REKOM, said the multi-million-pound project would “transform” the city’s PRYZM nightclub by dividing it into two new spaces - Barbara’s Bier Hause, a high octane apres-ski themed party bar, and Circuit, a modern late-night venue.
Work is set to begin at the site later this month, with the club closing its doors on New Years Eve and reopening in 2025.
Barbara’s Bier Hause will make up the ground floor of the site and is expected to open in March while the Circuit part of the venue has been scheduled to open at the end of January.
Important investment
Commenting on the investment, NTIA CEO Michael Kill told The Morning Advertiser (The MA): “It’s fantastic to see important investment like this from NEOS Hospitality.
“At a time when the sector faces ongoing challenges, these small but significant shoots of investment highlight a growth in confidence.
“The transformation of this iconic venue into Barbara’s Bier Haus and Circuit reflects a shifting understanding of market trends and the need for a diverse, multi-faceted product offering.
“This forward-thinking approach not only enhances the local nightlife scene but also sets a vital example of adapting to evolving consumer preferences in our industry.”
This comes as recent figures from the Night-Time Industries Association (NTIA) showed 480 nightclubs were lost between June 2020 and June 2024, an average of 10 closures per month or two per week.
In addition, the trade body estimated 37% of the UK’s nightclubs had been lost since March 2020.
NEOS, which currently operates 18 venues across the UK, separated from its previous owner, REKOM UK, in May this year, after the business entered liquidation.
Solid foundation
In September, NEOS revealed it had launched two new party bar concepts, Barbara’s Bier Haus along with Bonnie Rouge’s Pub, with £25m in fresh capital.
NEOS CEO Russell Quelch said, “We’ve spent 2024 establishing a solid foundation for the business through a venue base that can operate within the current market conditions.
“With PRYZM Bristol, we’re taking the next step by transforming this existing asset into two of our core brands.
“The refurbishment ticks multiple strategic boxes for us, including growing our brand portfolio and offering a wider variety of experiences for guests.
“It’s a strong reflection of how we’re adapting to the market and delivering experiences that resonate with our audience.
“We’ve successfully delivered our 2024 plan and 2025 will see us move onto the next phase of growing the business and refreshing the bars and venues within the existing estate.”
