"Brighton's iconic Palace Pier has been put on the market after almost a decade under the ownership of serial entrepreneur Luke Johnson, underscoring the mounting pressure facing Britain's leisure and hospitality businesses. The Grade II*-listed attraction, which opened in 1899 and remains one of the UK's most recognisable seaside landmarks, is being sold by Brighton Pier Group, which has appointed Knight Frank to oversee the sale."
"Accounts show that revenues from the pier division fell to £14.9m in 2024, down from £15.6m the previous year. Like-for-like sales declined by 4%, with the business citing a second consecutive summer of poor weather and softer tourism demand in Brighton. An increase in the admission charge from £1 to £2, introduced in March 2025, helped to partially offset falling visitor numbers, but could not prevent a sharp drop in profitability. Earnings before interest, tax, depreciation and amortisation fell to just £300,000 in 2024, down from £1.7m a year earlier."
Brighton's Grade II*-listed Palace Pier has been placed on the market after nearly a decade under Luke Johnson's ownership, reflecting mounting pressures on the UK's leisure and hospitality sector. Revenues for the pier fell to £14.9m in 2024 from £15.6m the previous year, with like-for-like sales down 4% due to poor weather and weaker tourism demand. An admission fee increase to £2 in March 2025 partially offset lower visitor numbers, but profitability collapsed, with EBITDA dropping to £300,000 from £1.7m. The group recorded impairments and appointed Knight Frank to manage the sale.
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