Inception Group Toasts Record Performance as Immersive Bars Drive Growth

The hospitality group behind some of London’s most distinctive themed venues has reported record turnover and set its sights on £30 million in revenue for the current year.

Inception Group, which operates 15 concept bars across the capital including Mr Fogg’s, Cahoots and Control Room B, achieved turnover of £28.9 million for the year to 31 December 2024, marking a 9% uplift on the previous 12 months.

The company posted like-for-like revenue growth of 6.4% across its established estate, whilst underlying earnings edged higher by £100,000 to reach £3.1 million, despite navigating elevated energy costs and challenging consumer spending conditions.

Co-founder Charlie Gilkes highlighted strong early trading from the group’s latest venture, Bunga 90, a nostalgia-driven 1990s-themed venue featuring VHS tapes, vintage gaming consoles, karaoke facilities and pizza offerings.

The second Cahoots site, which launched in Borough Yards near London Bridge last autumn with interiors inspired by post-war postal service aesthetics, “continues to trade beyond expectations,” Gilkes noted.

He added that profit margins, which faced headwinds in 2024 due to widespread cost inflation, have “started to improve” in recent trading.

Looking ahead, Gilkes said Inception has an “exciting pipeline” of new sites planned for 2026. He established the business alongside Duncan Stirling in 2009, following a chance double-booking that saw the pair collaborate on an event before running a three-year joint venture at London’s Sloane Square Hotel, which ultimately led to the formation of Inception Group.