Story of the Day - 19 February 2026
M&A experts – ‘generalist investors have left the market’, ‘sector starting to awaken to opportunities outside UK’
Sector M&A and investment experts have told Propel that generalist private equity firms are currently out of the hospitality market, and that those funds committed to the sector have to “be brave” and “stick with it”. Speaking on Propel’s In Conversation podcast, Ian Edward (pictured), sector investor, chair of Incipio Group and special advisor to advisory firm AlixPartners, said: “Generalist private equity are out of this market, certainly in the mid-market.”
Operators of multi-site hospitality companies can book up to three free places, or operators who are Premium subscribers can claim up to four free places by emailing: kai.kirkman@propelinfo.com
Propel Exclusive Report
Propel's Experiential Leisure Report is available now
Propel 500 is back for the second year. It brings together the top 500 players shaping the industry, offering not only comprehensive listings but also deep insights into the forces driving growth, innovation, and transformation across the sector.
Propel 500 provides critical insights into the companies leading the charge in hospitality, including turnover, number of sites, key staff, and more.
The 45,000-word report also includes exclusive analysis providing a full understanding of the market’s dynamics, as the top companies in the sector shift position after a challenging year. Mark Wingett reviews the mergers and acquisitions changing the shape of the Top 500 as size increasingly matters. Katherine Doggrell examines the key developments in UK hotels and looks into one of the sector’s brightest lights; experiential leisure. Tim Street dissects the UK’s rapidly developing franchise market. Data expert Mark Bentley, business development director at HDI, looks at emerging growth sectors, and Meaningful Vision founder Maria Vanifatova analyses the latest trends in the quick service restaurant market.
Get the report
Propel’s 500 Report is available to Premium Club members for free.
To sign up to Premium Club email: kai.kirkman@propelinfo.com
19 February 2026
Red Engine CEO – ‘pivoting toward a technology-licensing or concession model isn’t a path we are looking to take’
Steve Moore (pictured), co-founder and chief executive of Red Engine, the hospitality group behind Flight Club and Electric Shuffle, has told Propel that while other operators are pivoting toward a technology-licensing or concession model, that “isn’t a path we are looking to take”. Earlier this week, the company reported sales rose 10% to £27.7m in its final three months of last year, culminating in a record December, with 22 of its 24 venues achieving their highest weekly sales.
19 February 2026
UKHospitality – ‘tourist tax is wrong policy at worst time’
UKHospitality has said the proposed tourist tax is “the wrong policy at the worst time”. In its response to the government’s consultation on proposals to give mayors – and potentially other local leaders – the power to introduce overnight visitor levies in England, UKHospitality has raised serious concerns about the timing and impact of the plans.
19 February 2026
Business rates revaluation to earn London mayor’s office near £1m windfall
Labour’s business rates revaluation will earn London mayor Sir Sadiq Khan’s (pictured) office a near £1m windfall. On top of paying normal business rates, pubs in the capital valued above a certain amount pay an extra 2p levy to help meet the costs of the Elizabeth Line, which opened in 2022.
19 February 2026
Black Sheep Coffee signs 20-store US development deal
has said its international expansion has taken a major step forward after it signed a 20-store development agreement across the Dallas-Fort Worth metroplex in Texas, with Yoloway’s, an established UK franchise partner. Black Sheep Coffee said the deal marks one of the brand’s “most significant international franchise agreements to date” and sees an existing UK operator expand its partnership with Black Sheep Coffee into the US for the first time, following “strong performance and growth within the UK market”.
19 February 2026
Daisy Green owner breaks silence amid ‘David and Goliath’ café takeover row
Daisy Green owner Prue Freeman has defended her takeover of several popular park cafes in north London amid huge controversy over the move. Freeman has faced backlash and legal action since her company was selected by the City of London Corporation to run three cafes operated by Hoxton Beach in December last year.
19 February 2026
Spanish aparthotel operator sees scope for 20-plus UK sites in medium term after acquiring second property here
Spanish aparthotel operator Líbere Hospitality Group has told Propel it sees scope for 20-plus sites in the UK in the medium term after securing its second property here. The company has acquired part of the Coopers Building at 10-16 Church Street in Liverpool, with the four upper floors to be repurposed into an aparthotel with 148 studios.
19 February 2026
Burger King hires Alex Francis as director of omnichannel operations
Burger King UK has hired Alex Francis, formerly of Deliveroo, as director of omnichannel operations. He joins from Deliveroo, where he spent almost four years, holding such roles as head of UK and European operations.
19 February 2026
Sukho Group makes a loss, failed Gai Zaap venture contributes to drop in sales and Ebitda
Sukho Group, which operates the Sukhothai and Zaap Thai concepts, made a loss in the year to 31 March 2025 and said it failed Gai Zaap venture contributed to a drop in sales and Ebitda. The group, which operates eight Zaap Thai sites and three Sukhotahi locations, opened new concept Gai Zaap in Nottingham in July 2024 but closed it just three months later.
19 February 2026
South Wales operator reports increased turnover from price adjustments but profit drops due to cost pressures and higher taxation
South Wales operator Town & Country Collective has reported increased turnover from price adjustments in the year to 31 March 2025 but a drop in profit due to cost pressures and higher taxation. The company, which operates five hotels and pubs across Glamorgan, Cardiff, Bridgend and Llantwit Major, saw turnover climb from £8,717,669 in 2024 to £9,876,604.
18 February 2026
Sides MD – ‘we’re well geared up for progressive and proactive franchise growth’, ‘we should be able to pit ourselves against any of the big chicken operators’
Aaron Moore-Saxton, managing director of Sides, the food business from YouTube collective Sidemen, has told Propel the business is “well geared up for progressive and proactive franchise growth” and “should be able to pit ourselves against any of the big chicken operators”. The YouTube collective launched the brand in 2021 in partnership with food franchise firm Hero Brands, since when Sides has expanded to five restaurants across the UK and two abroad.
18 February 2026
Wagamama owner exploring sale of transport concessions business
Wagamama owner The Restaurant Group (TRG) is reportedly exploring a sale of its transport concessions division amid tough high street trading conditions. Sky News reports that the company is working with bankers at Lazard to assess prospective buyers’ appetite for TRG Concessions, which trades from sites at Heathrow, Gatwick and other major British airports and rail hubs.
18 February 2026
Red Engine ‘actively looking to capitalise on the momentum Electric Shuffle is generating in the US’
Steve Moore, co-founder and chief executive of Red Engine, the hospitality group behind Flight Club and Electric Shuffle, has told Propel that the business is “actively looking to capitalise on the momentum” the latter concept is generating in the US, saying that its “trajectory has been incredibly impressive”. It comes after the business reported that sales rose 10% to £27.7m in its final three months of last year, after a record December, with 22 of its 24 venues achieving their highest weekly sales that month.
February 2026 ~ Premium Club
Premium Club readers to receive all the videos from Restaurant Marketer and Innovator. Propel Premium Club members are to be given access to the entire recording of the 2026 Restaurant Marketer & Innovator Conference. Members are now able to access all the videos of the event.
James Hacon, managing partner at Think Hospitality.
Maria Vanifatova, chief executive and founder of Meaningful Vision.
Mark Bentley, business development director at HDI.
Sara McKennedy, managing director at Coco di Mama, Éadaoin McDonagh, chief operating officer at White Rabbit Projects, Laura Irving, managing director at JKS Restaurants, and Marcel Khan, chief executive at Fulham Shore.
Romy Miller, chief marketing officer at Knoops.
Pho: Libby Andrews, marketing director at Pho, talks to Charlotte Mair, founder and managing director at The Fitting Room.
Dishoom: In conversation with Fleet Street Communications chief executive Mark Stretton, co-founder Kavi Thakrar.
Alexis Melikov, chief executive of Tigermilk.
Jordan Graham, founder of Sugar Snap, in conversation with Paul Catterson, director at Orto Pizza, Sam Shephard, founder at Juice Jar, andPeter Coleman, co-founder of Seed
Aqua at 25: stories beyond the view: Marie Guenot, marketing director at Aqua Restaurant Group.
Michael Radley, co-founder at Joli, is joined by Hilary Ansell, marketing consultant and interim marketing director at Wasabi, Hester Mitchell, digital marketing manager at Bleecker Burger, and Tom Patrick, marketing director for Banana Tree and Las Iguanas at Big Table Group.
Evie Horsell, head of communications UK & Ireland at Big Mamma Group
Russell Danks, managing director at Laine Pub Co,
Kiran Quinn, group marketing director at RedCat Hospitality
Laura Lewis, marketing director at Arc Inspirations.
David Tester, head of marketing at Franco Manca, is joined by George Lamb, co-founder of Wildfarmed
Five concepts, one vision — Incipio at Olympia: Rory Graham, marketing and brand director at Incipio Group.
Jayson Perfect, chief operating officer at Butcombe.
What’s Next in Hospitality? The 2026 Playbook: James Hacon, Managing Partner at Think Hospitality.
Katy Moses, managing director at KAM.Heleri Rande, partner at Think Hospitality, in conversation with Chris Miller, founder at White Rabbit Projects, Loui Blake, co-founder at Long Lane, and Nicci Clarke, marketing and culinary director UK at Sodexo Live!.
Creative spaces, bold moves: Anthony Knight speaks to Tom Kidd, founder of SetList.
When hospitality meets entertainment. Thinking out of the box: Michelle Farrell, chief growth officer at Boxpark.
The neighbourhood effect: Marshall Dallas, Partner at Think Hospitality, speaks with Ankur Wishart, co-founder at Boxcar, and India Filippidis, head of marketing at Boxcar & The Italian Greyhound.
Madeleine Phillips, marketing director at Various Eateries.
Deborah Jones, senior client success manager at Proinsight, speaks to Michael Farquhar, chief operating officer at ETM Group.
Krishnan Doyle, founder at COREcruitment.
The multi-concept challenge: Markus Thesleff, founder of Thesleff Group.
Dave’s Hot Chicken’s digital activation: Peter Critchley, UK chief executive at Trison, is joined by Keyana Mohammadi, head of marketing at Dave’s Hot Chicken.
Tessa Graham, group brand director at Tashas Group.
Olivia Fitzgerald, managing director at 125 Data & Insights, speaks with Tom James, managing director at Bill’s. Dan Brookman, chief executive and co-founder of Airship & Toggle. Daniel Bennett, global head of behavioural science at Ogilvy Consulting: Originality in the age of AI. Heleri Rande, partner at Think Hospitality, in conversation with Afroditi Krassa, founding director of Afroditi, and Bob Conwell, managing director at Mr Lyan Studio. Digital marketing for growth. Carey Benn, chief executive at Guestwise, in conversation with Naddy Onions, marketing director at Prezzo Italian, James Metcalfe, sales and marketing director at Urban Pubs & Bars, and Ewa Turney, senior product lead at Mitchells & Butlers. Aaron Morgan, head of marketing and Paul Jones, head of IT at The Alchemist. Dojo: Jon Knott, head of data projects at Dojo. Laura Vana, associate partner at Think Hospitality, in conversation with Kat Schofield, sales and marketing director at Permanently Unique Group, Holly Hilton, marketing director at Market Place Food Halls, and Ria Pattni, director of marketing at JKS Restaurants. Laura Vana, associate partner at Think Hospitality, in conversation with Tasos Gaitanos, co-founder at Brother Marcus, Alex Large, co-founder at Brother Marcus, Tommy Giraux, head of restaurant systems at Honest Burgers. Joe Comiskey, digital director at Stonegate Group. Joel Robinson, chief executive at Openr, in conversation with Toby Herbert, head of IT at Hall & Woodhouse, Sara McKennedy, managing director at Coco di Mama, and Mark Bentley, business development director at HDI. Sophie Clarke, UK team lead at Popmenu, in conversation with Charlie Wood-Jones, Co-founder at Cawsburger. Dan Brookman, chief executive at Airship and Toggle. Mark Warburton, founder of Cow & Sow and Alan Armstrong, fractional marketing director.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
February 2026 ~ Premium Club
Propel 500 is back for the second year. It will bring together the top 500 players shaping the industry, offering not only comprehensive listings but also deep insights into the forces driving growth, innovation, and transformation across the sector. Propel 500 will provide critical insights into the companies leading the charge in hospitality, including turnover, number of sites, key staff, and more. The 45,000-word report will also include exclusive analysis to provide a full understanding of the market’s dynamics, as the top companies in the sector shift position after a challenging year. Mark Wingett will review the mergers and acquisitions changing the shape of the Top 500 as size increasingly matters. Katherine Doggrell will examine the key developments in UK hotels and look into one of the sector’s brightest lights; experiential leisure. Tim Street dissects the UK’s rapidly developing franchise market. Data expert Mark Bentley, business development director at HDI, will look at emerging growth sectors, and Meaningful Vision founder Maria Vantifatova will analyse the latest trends in the quick service restaurant market.
Propel 500 will be released on Friday, 9 January at 9am and is
£595 plus vat.
Existing Premium Club Members can receive it on Friday, 9 January at 9am for
£395 plus vat.
Premium Club members will receive the report for free on Friday, 27 February at 9am.
Pre-order Propel 500 today by emailing: kai.kirkman@propelinfo.com
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
February 2026 ~ Premium Club
Premium Club Opinion provides weekly insights from industry leaders. In this current edition, David Roberts, corporate partner and head of leisure at international law firm CMS, discusses how hospitality has just become a front-line election issue. He says that commentators argue the UK hospitality sector, contributing £62bn annually, is undervalued and overtaxed. With Reform UK spotlighting VAT cuts, hospitality has become an election issue, isolating Labour’s defence of the 20% rate. The sector seeks not bailouts but a fair playing field: business rates reform, a 10% VAT rate, EIS expansion, youth wage flexibility, benefits-to-work incentives, restored Entrepreneurs’ Relief, and even a dedicated hospitality ministry. Advocates say such reforms would drive growth, jobs and investment, revitalising high streets and recognising hospitality as a strategic national asset, not a dispensable luxury. Meanwhile, Ben Robinson, director of Pub Partnerships at north west brewer and retailer Robinsons, explains why pubs are so important. He says that village pubs are far more than businesses; they are social anchors. They bring together people from different backgrounds in ways no algorithm can replicate, quietly building trust and “social capital” through everyday encounters. In an age of online division and rising loneliness, pubs offer rare spaces where disagreement coexists with belonging. As other institutions close, they remain informal community living rooms. While alcohol has harms, the pub’s true value lies in connection. When one shuts, a community loses memory and support. The British pub is enduring social infrastructure, not nostalgia.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
February 2026 ~ Premium Club
Mark Wingett’s Premium Club Diary delivers insider sector gossip every week to Premium Club members. In this week’s edition, UK hospitality is buzzing with expansion and innovation. Bain Capital is advancing plans for Gail’s, with Goldman Sachs circulating teaser documents to potential investors. Previously valued at up to £500m and linked to interest from McWin Capital Partners, Gail’s operates about 185 sites and plans 40 openings by February 2026. New projections suggest capacity for as many as 800 UK locations. Also, Brava Hospitality Group, owner of Prezzo, continues to explore growth beyond a core brand refresh and Jamie’s Italian relaunch. It has trademarked potential new concepts, including Chick Magnet and Capri Pizza, though no launches are imminent. Meanwhile, in the US, Wagamama, owned by The Restaurant Group and backed by Apollo Global Management, has moved its headquarters to Tampa to support southeastern expansion and strengthened its culinary leadership. Lastly, Mission Mars is trialling a smaller-format bar in Liverpool, and Pret A Manger has launched a nostalgic 2016-priced menu across its New York estate.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
18 February 2026
UKHospitality warns government ‘risking locking a generation out of gaining a foothold in the workforce’ as unemployment hits five-year high
UKHospitality has warned the government it is “risking locking a generation out of gaining a foothold in the workforce” as the latest labour market figures “underline the growing strain on the UK jobs market”. Figures from the Office for National Statistics showed unemployment climbed to 5.2% in the final quarter of 2025 – its highest level since early 2021.
18 February 2026
Dutch smash burger brand Fat Phill’s seeking franchisee to operate debut regional location after securing Newcastle site
Dutch smash burger brand Fat Phill’s is seeking a franchise partner to operate what could be its debut regional location after securing a site in Newcastle. Fat Phill’s, which has 19 locations in the Netherlands and 25 globally, launched in the UK in December 2024, with a site in Clapham, south London, which has since closed.
18 February 2026
Beefy Boys plans to add two new sites this year, sales up on previous years
The Beefy Boys, the better burger business backed by Manjit Dale, founding partner of TDR Capital, has told Propel that it plans to open two new restaurants by the end of this year. The company opened its fifth site last October, in Oxford, and has been previously linked to an opening in Nottingham.
18 February 2026
Luxury hospitality company Maya Collection to head to UK as part of global expansion plans
Luxury hospitality company Maya Collection is to head to the UK as part of its global expansion plans. Building on its existing MayaBay locations in Monaco, Dubai, Porto Montenegro and the Courchevel 1850 alpine resort, Maya Collection will head to London in 2027.
18 February 2026
Ottolenghi launches retail range with Sainsbury’s
London restaurant and deli operator Ottolenghi has launched a retail range in partnership with Sainsbury’s. Nykki Bezer, Ottolenghi’s global grocery director, said: “We’re incredibly pleased to share that we have officially launched our Ottlenghi Group grocery range in 300-plus Sainsbury’s stores and online across the UK this week.”
18 February 2026
Ventive Hospitality secures Soho House India expansion rights
Ventive Hospitality, through its subsidiary Panchshil Corporate Park Private, has acquired Finest-VN Business Park Private – giving it control over the exclusive rights for Soho House’s expansion in India and the operation of Soho House Mumbai. A report in stock market newspaper Whalesbook said the acquisition is valued at 59,83,00,000 crores, which works out as £4,879,268.
17 February 2026
Exclusive - The Ned sees trading levels comparable to pre-pandemic, turnover nudges £80m
The Ned, the City of London mega-venue and private members’ club operated by Soho House, has reported turnover of £79,910,000 for the year ending 31 December 2024 (2023: £76,120,000), as it said that trading levels were comparable to pre-pandemic levels. The venue – which offers 250 bedrooms, ten restaurants, 17 bars, a spa and meetings and events space – posted a pre-tax profit of £2,042,000 compared to £2,052,000 the year before.
17 February 2026
New padel concept aiming to open 12-15 sites over next five years, agrees deal for first Scottish site
New padel concept Court de Padel has said it is aiming to open 12-15 sites over the next five years. Court de Padel launched its flagship first padel club, with eight indoor courts, in Norwich, in November, and is currently fitting out its next site, in, Hull – with further sites planned in Wales, England and Scotland.
Watch highlights from this year’s Propel summer conference and party.
Video presentations of all the speakers are available to Premium Club members, join to unlock exclusive access to 100 insightful videos each year.
To view pictures from the event click here
Promotional Content
22 April 2025
Unlock the Power of Change: Download McCain's Impact Report Today!
McCain’s Streets Ahead Programme, powered by KERB, is transforming the UK street food scene by empowering the next generation of entrepreneurs, particularly those facing barriers to entering the hospitality industry.
7 October 2024
Meet Maral, the visionary behind Ayal: Sharing Turkmenistan’s Flavours with London’s Streets
With the help of the McCain Streets Ahead programme, Maral turned her dream into a thriving business. Through Ayal, she offers Londoners a taste of Turkmen cuisine, from Manti dumplings to traditional palav, highlighting the rich heritage of her culture.
9 September 2024
Meet Eman and Bisan Bites: Bringing Palestinian Flavours to London's Streets
In 2022, Eman embarked on a journey to bring the authentic taste of Palestinian cuisine to the street food scene of London. Seeking guidance from the Streets Ahead programme, she transformed her passion into a reality, creating Bisan Bites a business that celebrates her heritage.
17 July 2024
Taste Uzbekistan: The Street Food Duo sharing the traditions and flavours of Central Asia
In 2022, Akbar and Sanobar joined the Streets Ahead program with a clear vision: to become the ultimate destination for food enthusiasts seeking an authentic and immersive experience.
Never Miss a Story
Subscription Plans
Standard
- Receive the Morning Briefing newsletter
- Receive Breaking News
- Exclusive access to 100 videos from Propel conferences & webinars
- In Conversation podcast series with industry leaders
- Receive the International Brands Report
- Receive the 500 Report
- Receive the Experiential Leisure report
- 20% discount on tickets to five Propel paid-for events
- Operators can send up to four members of staff to each of our four Multi-Club Conferences for free
- Receive the Propel database of multi-site companies, updated every month
- Receive the Propel Turnover & Profits Blue Book, updated every month
- Receive the Propel database of new openings, updated every month
- Receive the Propel UK Food and Beverage Franchisor database
- Receive the Propel UK Food and Beverage Franchisee database
- Receive the Who’s Who of UK Food and Beverage database
- Read Propel insight editor Mark Wingett’s weekly analysis and City Diary
- Plus insight from leading commentators
Premium Club
Supplier: £595 + VAT / per year
- Receive the Morning Briefing newsletter 11 hours early at 7pm each evening
- Receive Breaking News
- Exclusive access to 100 videos from Propel conferences & webinars
- In Conversation podcast series with industry leaders
- Receive the International Brands Report
- Receive the 500 Report
- Receive the Experiential Leisure report
- 20% discount on tickets to five Propel paid-for events
- Operators can send up to four members of staff to each of our four Multi-Club Conferences for free
- Receive the Propel database of multi-site companies, updated every month
- Receive the Propel Turnover & Profits Blue Book, updated every month
- Receive the Propel database of new openings, updated every month
- Receive the Propel UK Food and Beverage Franchisor database
- Receive the Propel UK Food and Beverage Franchisee database
- Receive the Who’s Who of UK Food and Beverage database
- Read Propel insight editor Mark Wingett’s weekly analysis and City Diary
- Plus insight from leading commentators
Premium Club Unlimited
- Unlimited access for your company
- Receive the Morning Briefing newsletter 11 hours early at 7pm each evening
- Receive Breaking News
- Exclusive access to 100 videos from Propel conferences & webinars
- In Conversation podcast series with industry leaders
- Receive the International Brands Report
- Receive the 500 Report
- Receive the Experiential Leisure report
- 20% discount on tickets to five Propel paid-for events
- Operators can send up to four members of staff to each of our four Multi-Club Conferences for free
- Receive the Propel database of multi-site companies, updated every month
- Receive the Propel Turnover & Profits Blue Book, updated every month
- Receive the Propel database of new openings, updated every month
- Receive the Propel UK Food and Beverage Franchisor database
- Receive the Propel UK Food and Beverage Franchisee database
- Receive the Who’s Who of UK Food and Beverage database
- Read Propel insight editor Mark Wingett’s weekly analysis and City Diary
- Plus insight from leading commentators
Conferences, study trips, and propel multi club
Upcoming Events
March 25th 2026
Propel Multi Club — New directions in a period of strong headwinds
Operators of multi-site hospitality companies can book up to three free places, or operators who are Premium subscribers can claim up to four free places by emailing: kai.kirkman@propelinfo.com