close

Sales at BrewDog rise 55% ahead of launch of first beer hotel in the US

_100105626_brewdog

Sales at Scottish-based BrewDog rose 55% to £78m in the first half of this year, as the group gears up to launch its first beer hotel in the US later this month.

The company, which was founded in 2007, saw its UK sales surge by 83% per cent, with plans revealed to open at least 17 new sites in the country and around the world this year, with Canary Wharf in London and Iceland on the agenda.

The announcement comes in the same month that BrewDog is opening what is said to be the ‘world’s first beer hotel’ in Ohio following a crowdfunding appeal.

Story continues below
Advertisement

Each of the rooms in the new DogHouse Columbus hotel will have a minibar containing BrewDog beers.    

The independent craft brewer is also bidding to create a hotel at the brewery’s headquarters in Aberdeenshire, Scotland, to be named The DogHouse, due to open in the first half of 2019.

The funding for the hotel and brewery expansion has come from BrewDog’s Equity for Punks crowdfunding initiative, which has seen the Scottish brewery raise over £53m since 2009 from more than 73,000 craft beer fans.

In October last year, the brewery launched its fifth round of Equity for Punks, looking to raise at least £10m, with a stretch goal of up to £50m, in order to further its global expansion.

Now the portfolio consists of 46 bars around the world, with revenues at the BrewDog’s bar division rising by 92% on a year ago, raking in an extra £10m so far this year for the group.

‘Heavy investment’ in the off-trade, as part of partnerships with supermarkets such as Morrisons and Tesco, saw sales in the UK rise, as well a strong start from the company’s on-trade sales with ongoing relationships with pub giants JD Wetherspoon and Greene King.

BrewDog co-founder James Watt said the group was at an ‘exciting and pivotal’ juncture.        

He said: “We’ve established a solid and rapidly growing presence in the UK and the demand from Europe shows no signs of waning.

“We’re making significant inroads in Asia and Australia, which I believe will begin to bear fruit in 2019.

“Our US business is expanding at breakneck speed with new distribution points added every week.”

Almost a quarter of the business is now owned by private equity firm TSG Consumer Partners.

Tags : BrewDoghotelsnew hotelsnews
Zoe Monk

The author Zoe Monk

Leave a Response

Protected with IP Blacklist CloudIP Blacklist Cloud