Wolseley Hospitality Group Records £64m Turnover as Expansion Plans Gather Pace

The Wolseley Hospitality Group has reported a turnover exceeding £64 million in its latest financial results, underscoring the resilience of London’s dining sector amid economic pressures.

For the year ending 31 December 2024, turnover rose by 7.85% to £64.2 million, up from £59.5 million in the previous year. This growth was attributed to a surge in customer visits and an increase in average spend per head across its portfolio of restaurants. The group operates nine notable venues in the capital, including The Wolseley, The Delaunay, Brasserie Zédel, Colbert, Fischer’s, Bellanger, and Soutine.

Despite the rise in sales, profitability declined. Adjusted EBITDA fell from £5.8 million to £2.8 million, while pre-tax losses narrowed to £5.8 million from £8.7 million the year prior. Industry observers note that while trading remained “positive”, ongoing challenges such as the cost-of-living crisis and higher labour costs exerted significant pressure on margins.

The group’s financial performance also reflects the opening of two new restaurants in 2023: Manzi’s in Soho and The Wolseley City in London’s financial district. Both launches followed Minor International’s acquisition of the business in April 2022, which marked the departure of long-time restaurateur Jeremy King.

In June 2024, the company appointed restructuring specialists AlixPartners to advise on cost management. Just months later, chief executive Baton Berisha stepped down after two years at the helm, leaving the business currently without a permanent successor.

Looking ahead, Minor Hotels—owner of The Wolseley Hospitality Group—has announced ambitious expansion plans. The group will launch two hotel concepts rooted in its celebrated restaurant brands: The Wolseley Hotels and The Colbert Collection. These will join Minor’s global portfolio of over 560 properties across 57 countries.

Dillip Rajakarier, CEO of Minor Hotels, described the move as a natural evolution:

“These new brands are inspired by the emotional equity and enduring legacy of our iconic restaurants. Extending them into the hotel space is a natural progression that builds on their distinctive character and guest loyalty in a new format.”

This transition highlights a growing trend in the hospitality sector, where established dining brands are evolving into lifestyle concepts, blurring the lines between restaurants, hotels, and cultural destinations. Whether this expansion will drive profitability as well as prestige remains a question for the coming years.