Seventeen-year-old businessman, Mitchell Carling, has announced the concluded takeover of a second hospitality venue after agreeing a deal to add the new venue to his investment portfolio at the end of last year.

In early 2024, the Scottish teenager hit the headlines after announcing his maiden business investment, when he acquired a Rangers Supporters Pub, Bar None, in the Costa del Sol despite being only sixteen at the time. Today, Mitchell Carling confirms his investment company PTR Hospitality has concluded the deal, agreed in principle before his seventeenth birthday last year, to take ownership of another venue on the Spanish coast.

Having identified an opportunity to consolidate the fragmented Spanish hospitality sector, Mitchell Carling launched his investment company, PTR Hospitality, with the intention of acquiring multiple venues and growing a portfolio of properties across the region.

Speaking of the second venue acquisition Mitchell Carling commented; “2024 was a busy year, taking over my first bar, and learning everything on the operational side of the business. When I made the decision to leave school to pursue a career in business, closing deals like this was what I had planned. Although it’s taken a few months to conclude the details of the transaction, I agreed this deal days before my seventeenth birthday in November, and I’m delighted to have acquired two venues, in my first year in business, whilst being only sixteen at the time. There’s still plenty of great investment opportunities in the region, and my team continue to look for the next one.”

In February 2024, Mitchell announced he had bought the Rangers Football Club supporters bar, Bar None in Benalmadena, Spain, and following a short closure whilst significant refurbishments took place, relaunched at the end of March. The bar has continued to trade through the tourism “off-season”, as Mitchell looks for more investment opportunities.

On the progress of his first investment, Mitchell added; “The first venue has been doing very well. The substantial renovations were essential, and we’ve had great feedback since re-opening. The venue staff have built a loyal customer base and the business results over the past eleven months have been very strong.”

Discussing his next steps, Mitchell commented; “I’m proud of our progress this year, two deals done whilst still only sixteen is good, but I’m only just getting started. There will be a period of refurbishment at the new venue to bring it up to our standards, and while we’ll focus on a food offering in the new venue, final details will be revealed soon. I continue to be contacted almost daily by other venue owners, or their representatives, looking to sell their business, and it’s my job to identify and complete deals to acquire the best ones.”