Thomas Read pub group plans expansion

THOMAS Read Group, the Dublin pub chain, is to embark on an expansion programme after agreeing a 60 million refinancing of its debt with Ulster Bank.

The group owns some of the biggest bars in the capital including The Bailey, Searsons and The Globe. It has also extended its hotel portfolio to include the Tulfarris Hotel & Golf Resort.

Mark Leavey, the company’s managing director, said the refinancing of the debt will allow it to increase its market share through continued growth and expansion over the next three years.

“We have already made great headway in becoming one of the biggest and most successful pub groups in the country and consider the development of Tulfarris the first step on the road to becoming a renowned hospitality group both nationally and internationally.”

Ulster Bank said it was confident in the future of the pub and restaurant market.

“The growth in the number of bars and restaurants, along with the significant rise in standards within the sector, has created an opportunity for Ulster Bank to increase our portfolio in this area,” Ulster Bank said in a statement.

The Thomas Read Group was set up by businessman Hugh O’Regan. Over the years the ownership has changed with hotelier and property developer Paddy Kelly now the largest shareholder.