Pub owner Liberation Group has revealed “record” sales for the year, helped by growing demand for its accommodation services.
The hospitality business, which has over 130 pubs and inns across the UK, said revenue rose 20 per cent on last year’s figure to £144m.
Sales in its accommodation offering also grew 11.6 per cent, helped by the launch of Butcombe Boutique Inns.
Jonathan Lawson, chief of Liberation Group, said that 2023 was a “standout” year for the business, and set sights on expanding its room offering by 300.
“We should remind ourselves that in 2016 we only had 10 rooms and now we have over 400, with the potential to achieve 700 in the existing estate as our accommodation offering increasingly forms a substantial lever for our overall managed business,” he said.
“This performance is undoubtedly a differentiator for our group when we look at the wider performance across the sector.”
The business, which has venues across London and the the south west, also noted growth in the breakfast and brunch market as it is a cheaper way to dine.
Liberation said: “Market data shows that over half (55 per cent ) of British adults are dining out for breakfast at least twice a month, whilst a quarter of us (25 per cent) go out for breakfast every week as it is increasingly seen as a more affordable way to treat family and friends.”
“We are witnessing a growing opportunity in the breakfast and brunch market and will continue to develop this offering in our estate of 42 inns and other selected locations.”
The firm, which is owned by Caledonia Private Capital, said it made a “solid start” to the new financial year.
Like-for-like sales across its managed pubs in the 13 weeks ended 27 April 2024 were up 6.5 per cent,
The pubs it acquired from Cirrus Inns in 2022, performed the strongest up 10.4 per cent on a like-for-like basis.