Scottish independent restaurant chain, The DRG, has unveiled plans for an £8m hotel in Glasgow city centre following record annual results.
Formerly known as Di Maggio’s Restaurant Group, The DRG, which owns 18 restaurants across Scotland including Amarone and Café Andaluz, saw turnover increase by 12.4% to £33.7m for the financial year ending in April 2016.
The family-owned group’s investment of over £2m in new restaurants and staff training during the same period paid off, with profits increasing 22% to £5.76m. At the same time employee numbers increased 13.6% from 690 to 784 – cementing the company’s place as the largest independent restaurant chain in Scotland.
Joint managing director Mario Gizzi, who co-founded the business in 1983, highlighted that these latest results include the first full year of trading for The DRG’s flagship The Anchor Line restaurant in Glasgow’s St Vincent Place and its new Café Andaluz on Union Street in Aberdeen.
“Our strategy of reinvesting in the business helps us to set the pace with new restaurant concepts and the latest additions, including The Atlantic in Glasgow and our new Spanish seafood restaurant Cadiz in Edinburgh are already trading very well,” Mario said.
Joint managing director Tony Conetta said there would be major investments in both new premises and staff training programmes for 2017 and 2018.
“We are on schedule to open an £8million premium aparthotel in St Vincent Place, above The Anchor Line, in spring next year,” Tony explained. “It will have 64 rooms including six penthouse suites.
“It’s a very significant venture for us but we have carried out a great deal of market research and are aiming firmly at business people visiting the city, as well as visitors taking in shows at The Hydro or on shopping trips to Glasgow. Guests won’t just benefit from the luxury accommodation and city centre location, but will also be able to take advantage of The Anchor Line’s menu for breakfast, lunch and dinner.”
Meanwhile, a new £2m flagship restaurant and bar development, Registers, is also set to be open in Edinburgh’s historic St Andrew Square in spring 2018, as the group takes the number of restaurants in the capital to four.