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Neos Hospitality

Full company profile

uuid003h944

Namestring
Neos Hospitality
Legal namestring
Neos Holdco LTD
Company typeenum
Private
Founded yearint
2024
Descriptiontext

Neos Hospitality (legal entity Neos Holdco LTD, registered in Cardiff, Wales, registration number 15420951) is a UK private hospitality operator that runs a portfolio of more than 19 bars, pubs, and late-night venues under three core sub-brands: Barbara's Bier Haus (après-ski themed party bars), Bonnie Rogues (traditional pubs with live music and sports), and Circuit (high-energy student-targeted nightclubs). The company emerged on 1 May 2024 via a spin-off from the Rekom Group and is led by CEO Russell Quelch, alongside Operations Director Brett Collier, Marketing Director Will Houghton-Jones, and Finance Director Kellie Thorne. It serves three primary customer segments — young adults and students seeking late-night entertainment, corporate groups booking venues for events and private hire, and social entertainment seekers drawn to themed nights and live music — and generates revenue principally through on-premise food and beverage sales, venue hire, and admission/ticket sales at club venues. Distribution is direct and venue-based: walk-in footfall, corporate bookings via a dedicated sales team, and ticketed events through third-party platforms FIXR and Collins.

The business model is asset-heavy and transactional: each venue operates as a physical point of consumption with on-site staff, with no proprietary technology platform disclosed beyond standard hospitality POS, CRM, and third-party booking and marketing integrations. Growth is being pursued through three reinforcing vectors — organic new openings, opportunistic M&A (exemplified by the March 2026 acquisition of Revolución de Cuba Newcastle and expressed interest in further sites from Revel Collective's 62-venue estate), and capital-intensive redevelopment (a multi-million-pound project at the former Tiger Tiger site on Haymarket, central London, scheduled for late summer 2026 via a landlord partnership with Criterion Capital). The company is privately held with no disclosed institutional investor backing and reports no financial figures publicly.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
501–1,000
akta.pro rankint
HeadquartersCardiff, Australia
HQ citystring
Cardiff
HQ countrystring
Australia
HQ regionstring
Oceania
Markets served

Serves global market

Offices2 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
nightlife venue operations, bar and pub management, nightclub entertainment, corporate event hospitality, multi-brand bar portfolio
Industry3 codes
1Nightclubs & Dance Clubs
CodeTHAFAEACPrimaryYes
2Pubs & Gastropubs
CodeCRANACABPrimaryNo
3Cocktail Bars & Lounges
CodeCRANACADPrimaryNo
NAICS code1 code
  • Drinking Places (Alcoholic Beverages)7224
SIC code1 code
  • Retail-Eating & Drinking Places5810
Product category
Nightlife Hospitality Venues
Social media profiles1 record
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model3 records
1Food and Beverage Sales
TypeTransaction Fee
Description

Core revenue from alcohol, food, and beverage sales across all venue brands. Each venue concept (Barbara's Bier Haus, Bonnie Rogues, Circuit) serves drinks, meals, and entertainment to walk-in and booked customers.

neoshospitality.co.uk
2Venue Hire and Corporate Events
TypeProfessional Services
Description

Revenue from corporate bookings, private events, and venue hire. The company has dedicated sales teams for corporate bookings and events at their venues.

squaremeal.co.uk
3Admission/Ticket Sales
TypeTransaction Fee
Description

Revenue from door entry fees and ticketed events at nightclub venues, particularly Circuit brand which targets students and late-night crowds.

bdaily.co.uk
Marketing channels5 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain
GTM typeB2C
B2C
Offering typeServices
Services
Brand1 of 3 records shown
1Barbara's Bier Haus
Description

An après-ski themed bier bar featuring good company, great drinks, live entertainment, quiz nights, music bingo, karaoke, and an energetic atmosphere.

neoshospitality.co.uk
+2 more records
Core offering1 text field

NEOS Hospitality operates a multi-brand portfolio of bars, pubs, and nightclubs across the UK under three core concepts—Barbara's Bier Haus (après-ski themed party bars), Bonnie Rogues (modern pubs with live music and sport), and Circuit (student-focused nightclubs)—generating revenue from food and beverage sales, door/ticket sales, and corporate venue hire across more than 19 physical sites.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

NEOS Hospitality operates a portfolio of bars, pubs, and nightlife venues across the UK, currently spanning over 19 sites. The company manages three core sub-brands: Barbara's Bier Haus (après-ski themed party bars), Bonnie Rogues (bold, modern pubs with live music and sports), and Circuit (high-energy nightclubs). NEOS emerged in May 2024 from its separation from the Rekom Group and is executing an ambitious expansion strategy that includes acquiring existing venues (Revolución de Cuba Newcastle) and developing new sites (Haymarket London venue), with plans for significant rollout in 2026 and beyond.

Product and service6 records
1Barbara's Bier Haus
CategorySub-brand Venue Concept
Description

Après-ski themed party bar concept featuring live entertainment, quiz nights, music bingo, karaoke, shot-skis, and steins, providing a high-energy alpine-inspired bar experience for consumers and groups across multiple UK sites.

2Bonnie Rogues
CategorySub-brand Venue Concept
Description

Bold, rebellious modern pub concept combining traditional pub elements with live sports on big screens, live music, and lively nights, serving adults and groups seeking a high-energy pub experience across multiple UK sites.

3Circuit
CategorySub-brand Venue Concept
Description

High-energy late-night nightclub concept featuring DJ performances, loud music, and affordable drinks, targeting students, locals, and societies seeking late-night clubbing across multiple UK sites.

4Corporate Venue Hire and Events
CategoryEvent and Venue Hire
Description

Corporate and private event hire service offering NEOS Hospitality venues for corporate events, team outings, private functions, and business dinners, with a dedicated sales team and quote-based pricing.

5Revolución de Cuba Newcastle Venue
CategoryAcquired Venue
Description

Cuban-themed nightlife venue in Newcastle acquired by NEOS Hospitality in March 2026, continuing operations under the group's ownership as part of its UK expansion strategy.

6Haymarket London Venue
CategoryNew Venue Under Development
Description

All-day trading venue being developed at the former Tiger Tiger Haymarket site in London's West End, designed as an immersive dual-brand venue representing NEOS Hospitality's first central London site.

Scale indicator4 records

Each record includes

Type, Value, Description, Source

Partnership2 partners
Strategic tierMajorTypeOthers
Description

Criterion Capital, multigenerational real estate investors and owners of the landmark Haymarket property, selected NEOS Hospitality to transform the former Tiger Tiger site. This is a landlord-tenant relationship where Criterion Capital provides the property and NEOS Hospitality operates the venue.

Strategic tierPotentialTypeStrategic or Co-development Partner
Description

NEOS Hospitality has expressed interest in acquiring some sites from Revel Collective, the operator of 62 bar venues under Revolution, Revolucion de Cuba, and Peach Pubs brands. The acquisition of Revolucion de Cuba Newcastle has already been completed, with other potential sites under consideration.

Recent move8 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Cocktail-led bar chain within Stonegate Group with multiple London and city sites targeting a late-20s-30s drink-led crowd. Directly comparable as a multi-site UK cocktail/late-night bar operator serving a similar occasion-based demand.

TypeBroad incumbent
Description

One of the UK's largest pub and bar operators with hundreds of high-street, late-night, and themed venues (including Slug & Lettuce, Be At One, Walkabout). Compares as the dominant scale incumbent pursuing a multi-brand late-night portfolio very similar to NEOS's three-brand approach.

TypeDirect peer
Description

London-focused multi-site operator running late-night bars and clubs (e.g., Tiger Tiger was previously associated with similar central-London late-night venues). Closely comparable to NEOS's planned Haymarket central-London venue play.

TypeBroad incumbent
Description

Premium all-day bar-eatery chain owned by Mitchells & Butlers, focused on city-centre, mid-market drink-led experiences. Comparable to NEOS's planned London all-day venue format and shared customer demographic.

TypeRegional player
Description

Manchester-based multi-site operator running themed bars, live music venues, and late-night clubs (e.g., Albert's Schloss, Bunny Jackson's). Comparable as a multi-brand UK late-night/bar operator driving growth through differentiated experiential concepts.

TypeRegional player
Description

Independent UK multi-site pub and bar operator focused on Brighton and South Coast destinations, operating venues like The Mesmerist and Patterns. Comparable as a privately-held regional UK multi-brand bar operator of similar scale that has scaled via openings rather than consolidation.

TypeDirect peer
Description

UK and Nordic nightlife and late-night bar operator (founded in Denmark, previously the parent of NEOS). Compares as the closest direct peer in the late-night multi-format bar space and is the natural strategic reference for NEOS's portfolio approach.

TypeDirect peer
Description

Operates 62 venues under the Revolution, Revolucion de Cuba, and Peach Pubs brands across the UK. Direct competitor in themed late-night bars and rum/cocktail venues; NEOS is actively acquiring sites from this group.

TypeDirect peer
Description

UK experiential cocktail bar chain known for theatrical drinks and themed venues, operating multiple high-end city-centre sites. Compares as a UK themed bar group with a clearly differentiated experiential concept targeting a similar 25-40 demographic to NEOS.

TypeDirect peer
Description

UK AIM-listed bar and nightclub operator behind brands including The Cocktail Club, Tonight Josephine, and the adventure-themed bar Mr Fogg's. Compares as a publicly-traded UK multi-brand late-night/cocktail bar group of similar scale to NEOS.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment3 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

Integration9 records

Each record includes

Title, Type, Description, Source

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles4 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Neos Hospitality

Nightlife Hospitality Venuesneoshospitality.co.uk

What Neos Hospitality does

Neos Hospitality (legal entity Neos Holdco LTD, registered in Cardiff, Wales, registration number 15420951) is a UK private hospitality operator that runs a portfolio of more than 19 bars, pubs, and late-night venues under three core sub-brands: Barbara's Bier Haus (après-ski themed party bars), Bonnie Rogues (traditional pubs with live music and sports), and Circuit (high-energy student-targeted nightclubs). The company emerged on 1 May 2024 via a spin-off from the Rekom Group and is led by CEO Russell Quelch, alongside Operations Director Brett Collier, Marketing Director Will Houghton-Jones, and Finance Director Kellie Thorne. It serves three primary customer segments — young adults and students seeking late-night entertainment, corporate groups booking venues for events and private hire, and social entertainment seekers drawn to themed nights and live music — and generates revenue principally through on-premise food and beverage sales, venue hire, and admission/ticket sales at club venues. Distribution is direct and venue-based: walk-in footfall, corporate bookings via a dedicated sales team, and ticketed events through third-party platforms FIXR and Collins.

The business model is asset-heavy and transactional: each venue operates as a physical point of consumption with on-site staff, with no proprietary technology platform disclosed beyond standard hospitality POS, CRM, and third-party booking and marketing integrations. Growth is being pursued through three reinforcing vectors — organic new openings, opportunistic M&A (exemplified by the March 2026 acquisition of Revolución de Cuba Newcastle and expressed interest in further sites from Revel Collective's 62-venue estate), and capital-intensive redevelopment (a multi-million-pound project at the former Tiger Tiger site on Haymarket, central London, scheduled for late summer 2026 via a landlord partnership with Criterion Capital). The company is privately held with no disclosed institutional investor backing and reports no financial figures publicly.

Neos Hospitality firmographics

Firmographics
Name
Neos Hospitality
Legal name
Neos Holdco LTD
Website
https://neoshospitality.co.uk
Company type
Private
Founded year
2024
Operating status
Operating
Headcount range
501–1,000 employees
Ownership category
akta.pro rank

Neos Hospitality industry classification

Industry
Product category
Nightlife Hospitality Venues
NAICS
Drinking Places (Alcoholic Beverages) (7224)
SIC
Retail-Eating & Drinking Places (5810)
akta.pro primary industry
Nightclubs & Dance Clubs (THAFAEAC)
akta.pro secondary industries
Pubs & Gastropubs (CRANACAB), Cocktail Bars & Lounges (CRANACAD)

Keywords

  • Nightlife venue operations
  • Bar and pub management
  • Nightclub entertainment
  • Corporate event hospitality
  • Multi-brand bar portfolio

Where Neos Hospitality is headquartered

Location

Headquarters

HQ city
Cardiff
HQ country
Australia
HQ region
Oceania

Offices2 records

Markets served

Neos Hospitality business model

Business model
GTM type
B2C
Offering type
Services
Cost components
Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

  1. Food and Beverage Sales: Core revenue from alcohol, food, and beverage sales across all venue brands. Each venue concept (Barbara's Bier Haus, Bonnie Rogues, Circuit) serves drinks, meals, and entertainment to walk-in and booked customers.
  2. Venue Hire and Corporate Events: Revenue from corporate bookings, private events, and venue hire. The company has dedicated sales teams for corporate bookings and events at their venues.
  3. Admission/Ticket Sales: Revenue from door entry fees and ticketed events at nightclub venues, particularly Circuit brand which targets students and late-night crowds.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Neos Hospitality product offering

Product offering

Core offering

NEOS Hospitality operates a multi-brand portfolio of bars, pubs, and nightclubs across the UK under three core concepts—Barbara's Bier Haus (après-ski themed party bars), Bonnie Rogues (modern pubs with live music and sport), and Circuit (student-focused nightclubs)—generating revenue from food and beverage sales, door/ticket sales, and corporate venue hire across more than 19 physical sites.

Product overview

NEOS Hospitality operates a portfolio of bars, pubs, and nightlife venues across the UK, currently spanning over 19 sites. The company manages three core sub-brands: Barbara's Bier Haus (après-ski themed party bars), Bonnie Rogues (bold, modern pubs with live music and sports), and Circuit (high-energy nightclubs). NEOS emerged in May 2024 from its separation from the Rekom Group and is executing an ambitious expansion strategy that includes acquiring existing venues (Revolución de Cuba Newcastle) and developing new sites (Haymarket London venue), with plans for significant rollout in 2026 and beyond.

Differentiator

Problem solved

Functional benefit

Brands

  • Barbara's Bier Haus: An après-ski themed bier bar featuring good company, great drinks, live entertainment, quiz nights, music bingo, karaoke, and an energetic atmosphere.
  • Bonnie Rogues
  • Circuit

Products and services

  • Barbara's Bier Haus Après-ski themed party bar concept featuring live entertainment, quiz nights, music bingo, karaoke, shot-skis, and steins, providing a high-energy alpine-inspired bar experience for consumers and groups across multiple UK sites.
  • Bonnie Rogues Bold, rebellious modern pub concept combining traditional pub elements with live sports on big screens, live music, and lively nights, serving adults and groups seeking a high-energy pub experience across multiple UK sites.
  • Circuit High-energy late-night nightclub concept featuring DJ performances, loud music, and affordable drinks, targeting students, locals, and societies seeking late-night clubbing across multiple UK sites.
  • Corporate Venue Hire and Events Corporate and private event hire service offering NEOS Hospitality venues for corporate events, team outings, private functions, and business dinners, with a dedicated sales team and quote-based pricing.
  • Revolución de Cuba Newcastle Venue Cuban-themed nightlife venue in Newcastle acquired by NEOS Hospitality in March 2026, continuing operations under the group's ownership as part of its UK expansion strategy.
  • Haymarket London Venue All-day trading venue being developed at the former Tiger Tiger Haymarket site in London's West End, designed as an immersive dual-brand venue representing NEOS Hospitality's first central London site.

Companies that use Neos Hospitality

Customer profile

Segments3 records

Ideal customer profiles3 records

Neos Hospitality technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Integration9 records

Neos Hospitality partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered major and potential.

  • Criterion CapitalmajorOthersCriterion Capital, multigenerational real estate investors and owners of the landmark Haymarket property, selected NEOS Hospitality to transform the former Tiger Tiger site. This is a landlord-tenant relationship where Criterion Capital provides the property and NEOS Hospitality operates the venue.
  • Revel CollectivepotentialStrategic or Co-development PartnerNEOS Hospitality has expressed interest in acquiring some sites from Revel Collective, the operator of 62 bar venues under Revolution, Revolucion de Cuba, and Peach Pubs brands. The acquisition of Revolucion de Cuba Newcastle has already been completed, with other potential sites under consideration.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Neos Hospitality competitors and assessment

Company assessment

Direct peers

  • Be At One: Cocktail-led bar chain within Stonegate Group with multiple London and city sites targeting a late-20s-30s drink-led crowd. Directly comparable as a multi-site UK cocktail/late-night bar operator serving a similar occasion-based demand.
  • Novus Leisure: London-focused multi-site operator running late-night bars and clubs (e.g., Tiger Tiger was previously associated with similar central-London late-night venues). Closely comparable to NEOS's planned Haymarket central-London venue play.
  • Rekom Group: UK and Nordic nightlife and late-night bar operator (founded in Denmark, previously the parent of NEOS). Compares as the closest direct peer in the late-night multi-format bar space and is the natural strategic reference for NEOS's portfolio approach.
  • Revel Collective: Operates 62 venues under the Revolution, Revolucion de Cuba, and Peach Pubs brands across the UK. Direct competitor in themed late-night bars and rum/cocktail venues; NEOS is actively acquiring sites from this group.
  • The Alchemist: UK experiential cocktail bar chain known for theatrical drinks and themed venues, operating multiple high-end city-centre sites. Compares as a UK themed bar group with a clearly differentiated experiential concept targeting a similar 25-40 demographic to NEOS.
  • Nightcap plc: UK AIM-listed bar and nightclub operator behind brands including The Cocktail Club, Tonight Josephine, and the adventure-themed bar Mr Fogg's. Compares as a publicly-traded UK multi-brand late-night/cocktail bar group of similar scale to NEOS.

Broad incumbents

  • Stonegate Group: One of the UK's largest pub and bar operators with hundreds of high-street, late-night, and themed venues (including Slug & Lettuce, Be At One, Walkabout). Compares as the dominant scale incumbent pursuing a multi-brand late-night portfolio very similar to NEOS's three-brand approach.
  • All Bar One (Mitchells & Butlers): Premium all-day bar-eatery chain owned by Mitchells & Butlers, focused on city-centre, mid-market drink-led experiences. Comparable to NEOS's planned London all-day venue format and shared customer demographic.

Regional players

  • Tokyo Industries: Manchester-based multi-site operator running themed bars, live music venues, and late-night clubs (e.g., Albert's Schloss, Bunny Jackson's). Comparable as a multi-brand UK late-night/bar operator driving growth through differentiated experiential concepts.
  • Laine Pub Company: Independent UK multi-site pub and bar operator focused on Brighton and South Coast destinations, operating venues like The Mesmerist and Patterns. Comparable as a privately-held regional UK multi-brand bar operator of similar scale that has scaled via openings rather than consolidation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Neos Hospitality social profiles

Digital presence

Neos Hospitality financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Neos Hospitality leadership team

Management profile

Number of profiles

Profiles4 records

Neos Hospitality funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Neos Hospitality M&A and investment

M&A and investment

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Neos Hospitality

What does Neos Hospitality do?

NEOS Hospitality operates a multi-brand portfolio of bars, pubs, and nightclubs across the UK under three core concepts—Barbara's Bier Haus (après-ski themed party bars), Bonnie Rogues (modern pubs with live music and sport), and Circuit (student-focused nightclubs)—generating revenue from food and beverage sales, door/ticket sales, and corporate venue hire across more than 19 physical sites.

Is Neos Hospitality a public or private company?

Neos Hospitality is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was Neos Hospitality founded?

Neos Hospitality was founded in 2024. It employs 501 to 1,000 people.

Where is Neos Hospitality based?

Neos Hospitality is headquartered in Cardiff, Australia, in the Oceania region.

How does Neos Hospitality make money?

Three revenue lines are on record. Food and Beverage Sales are the primary driver. The others are venue Hire and Corporate Events and admission/Ticket Sales.

Who are Neos Hospitality's main competitors?

Direct peers on record are Be At One, Novus Leisure, Rekom Group, Revel Collective, The Alchemist and Nightcap plc. Broad incumbents are Stonegate Group and All Bar One (Mitchells & Butlers). Regional players are Tokyo Industries and Laine Pub Company.

Does Neos Hospitality have an API?

No public API is recorded for Neos Hospitality.

What industry is Neos Hospitality in?

Neos Hospitality's product category is Nightlife Hospitality Venues. Its primary akta.pro industry code is THAFAEAC, Nightclubs & Dance Clubs, with a secondary code of CRANACAB, Pubs & Gastropubs. Its NAICS code is 7224 and its SIC code is 5810.

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Live signals
BdailyCuban bar raises a glass to futureRevolución de Cuba Newcastle has been acquired by NEOS Hospitality, safeguarding jobs at the venue and ensuring it remains part of the city's nightlife scene. The acquisition forms part of NEOS Hospitality's broader expansion strategy to grow its portfolio of bars and late-night venues across the UK. To celebrate the transition, the venue is offering customers a free drink as part of its launch campaign.London & UK Restaurant and Venue GuideNEOS Hospitality announces multi-million-pound redevelopment on HaymarketNEOS Hospitality has secured the lease for the former Tiger Tiger site on Haymarket in London's West End, marking the group's first central London venue and a significant expansion milestone. The multi-million-pound redevelopment will transform the 13,000 square foot space into an all-day trading venue with immersive design and modern social experiences, scheduled to open in late summer 2026. Criterion Capital, the multigenerational real estate investors who own the landmark property, selected NEOS Hospitality following Tiger Tiger's closure in 2025, with NEOS emerging from its 2024 separation from the Rekom Group.The MirrorMajor bar chain sets deadline for next week after putting itself up for saleThe Revel Collective, operator of 62 bar venues under Revolution, Revolucion de Cuba, and Peach Pubs brands, has set a January 9 deadline for bids after placing itself for sale in October 2025, with FTI Consulting advising on the formal sale process. The company reported a 7.4% revenue decline to £26.3 million for the three months to September, with debts rising to £25.3 million from £22.1 million, citing challenging economic conditions and government budget changes to employer NICs, minimum wage, and spirits duty. Neos Hospitality has expressed interest in acquiring some sites while the company previously rejected an offer from rival Nightcap in April 2024.