Nightcap will acquire, recapitalise and develop drinks-led concepts with significant potential across the UK.
In recent years we have seen fundamental shifts in both the hospitality industry and in consumer preferences. Large parts of the hospitality industry have been suffering from the burden of expensive rents and high levels of capital expenditure, discount offerings, increased food prices and a shift to home delivery, all of which have been accelerated by Covid-19. At the same time, consumer preferences – in particular those of millennials – are shifting away from mid-market hospitality chains to experience-led, quality nights out in unique, local style venues.
These factors have led to an increase in the number of available sites, decreases in rents, reductions in site premiums and capital expenditure and an increasing number of talented hospitality staff in the jobs market.
Nightcap’s strategy is simple: we are focused on easy to replicate scalable business models with nationwide rollout potential.
In the years to come, we believe that drinks-led business models that target a resilient millennial audience will have an exceptional opportunity to thrive alongside reduced competition, given their low operational break-even levels, uncomplicated business models and high return on capital.
Nightcap’s aim is to capitalise on this compelling opportunity to build a major drinks-led hospitality group.
With our team’s significant operational and acquisition-related experience, we believe that the timing of our strategy to make selective and targeted acquisitions of individual sites, and drinks-led hospitality brands, has rarely been better.