London pub with rooms operator, Three Cheers Pub Co, has revealed plans to expand its portfolio to 15 sites as its boutique bedrooms business goes from strength to strength.
The south-west based company, which was founded in 2003 by three childhood friends, Tom Peak, Mark Reynolds and Nick Fox, has grown to nine properties in 16 years and recently reopened The Bedford in Balham after a multimillion pound investment.
Speaking to Boutique Hotelier, Reynolds said that around 15 sites is the ambition, which they hope to achieve in the next five to six years.
“15 would be a good number – for me that’s about a collection of pubs; we are not about opening pubs every months, slapping it with a load of branding, with big signs and all the menus being the same. All our menus are designed by the head chefs at each site, so we are trying to keep it quite individual.”
Three Cheers Pub Co opened its first bedrooms above The Tommyfield in Kennington in 2014, followed by the launch of the pub with rooms The Princess Victoria in 2018 in Shepherds Bush.
The newest addition, The Bedford in Balham has 15 bedrooms, the largest of the portfolio, and was the second opening for Six Cheers Ltd, the ‘Managed Investment’ partnership with Ei Group.
Other properties in the portfolio include The Abbeville in Clapham, The Avalon in Clapham and The Bolingbroke in Battersea.
Reynolds said that expansion will keep the group firmly in the south west London area, and each new addition will retain the small, entrepreneurial spirit of the company.
“I can get round my nine pubs in a day if I needed too, but if you start getting to 20-25 pubs you’re not getting round them in a week and you lose that level of control.”
“0-7 properties is a hard road and at the moment we are at a 7-17, which is the next stage of growth. At this stage you have an executive chef, you have an operations manager and you have a service manager, you have a little bit of management between you and the managers.
“When you get above 17, the next stage of growth they say 17-70, usually when you’ve floated or when you’ve got a huge amount of private equity funding, you are then getting into another level of management with area managers and food directors and I think to have that extra tier, we might leave that for someone else.”