Admiral and Greene King lead PCA tenant survey

Key findings from the Pubs Code Adjudicator's (PCA) Annual Tied Tenants Survey have shown that Admiral Taverns and Greene King lead current satisfaction levels across the pub industry. 

Tied tenants of Admiral and Greene King are the most satisfied in their relationship with their pub company, with ratings of 79% and 78% respectively.

Star Pubs has the most improved level of satisfaction for the second year in a row – from 55% in 2023 to 70% this year.

Marston’s satisfaction level at 72% represents the second successive decrease, totalling 13 points in two years. At the bottom of the table, Stonegate Group tenants’ satisfaction level dropped four points to 43%. Punch Pubs & Co stayed at 61%.

Stable satisfaction

This year’s results reveal that overall average pub company satisfaction has remained stable, with six in 10 (61%) tied pub tenants saying they are satisfied with the relationship with their pub company.

The annual benchmarking survey highlights tied pub tenant sentiment about the UK’s regulated pub companies in England and Wales – Admiral Taverns, Greene King, Marston’s, Punch Pubs & Co, Star Pubs and Stonegate Group.

More than 1,200 tied pub tenants were interviewed on a range of topics, including rent, business development managers (BDMs) and awareness of Pubs Code rights.

For 2025, just over half (59%) of tied pub tenants were satisfied with their current tenancy arrangement. This was a drop of nine points from last year, with tenants of Marston’s and Stonegate seeing statistically significant drops of 14 and 11 points respectively. However, there was no significant change in the type of agreements cited within the study, with 44% under a traditional tied tenancy and 35% a tied lease.

"I am particularly pleased to see ongoing consistently high satisfaction results from Admiral and Greene King tenants, and I would like to congratulate Star for another year of improved satisfaction levels," says Fiona Dickie, the Pubs Code Adjudicator. "Stonegate has not yet succeeded in moving the dial on tenant satisfaction in the PCA’s survey. I am sure that it will be disappointed with this year’s results. 

"As regulator, the PCA will use the survey results to help us to understand priorities for our resources and where we need to look to understand how pub companies are complying with their duties under the Pubs Code."

For the full findings, pub operators can visit PCA Annual Tied Tenant Survey 2025 website.

You may also be interested in…