In a recent letter to members, staff and friends, John Spence, chairman of Karma Royal Group, announced their latest acquisition:
“I am delighted to announce the latest acquisition of the Karma Group – the Twickenham-based rugby pub and club, Stokes and Moncrieff.
Under the recently completed agreement, we have purchased a majority equity interest in the venture (60%) alongside Simon Shaw (ex-England and British Lions rugby international and our European Marketing Manager) and Ian Styles (Simon’s commercial manager).
As you know, we have long had both a passion and commercial involvement with the sport of rugby and we believe that it perfectly fits our target demographic, for both current and potential clients.
Stokes and Moncrieff (soon to be co- branded A Karma Clubhouse) has established itself as not only the premier rugby venue in Twickenham, whether gameday or not, but also the home base for many players and people involved in the sport.
Twickenham Stadium is not only the home of English rugby, but with a capacity of almost 80,000 spectators is also the venue for a large range of international sporting and entertainment events.
Our intention is to retain its current popularity and invest heavily in the property by developing a members’ floor and private bedrooms upstairs, as well as further enhancing the rugby theme and ‘ownership’ of the property.
In our opinion there is a huge gap in the market for more boutique and personal before and after-game corporate hospitality than is currently available.
We have many existing members who we believe will welcome the opportunity to have a base for all England home games (as well as games by Harlequins and other London clubs) and to have a private enclave close to the ground. Karma membership will give them priority access to the property, club and exclusive benefits.
We also believe that it is a perfect marketing platform to introduce new clients to Karma and our range of products.
In addition we are convinced it will be profitable and cash flow generative in in its own right, especially as rugby becomes increasingly popular with its inclusion in the Rio Olympic Games.
Finally, as you may know we have many ex and current players as Karma Ambassadors and having our own presence in Twickenham will provide a great opportunity for us to work closely with them both physically and remotely.
It is our intention with Karma Club to provide a host of leisure and hospitality experiences outside the usual vanilla hotel accommodation and I think this Karma Clubhouse is a great example of just that.
As I constantly say…we are not in the lodging business – we are in the entertainment business.
I hope to see many of you at the bar for a beer (or better still, some great wine!) before an English victory of course!!!