Heineken has pledged a £40 million cash injection into the pubs business, in a move which will create around 600 jobs this year.
The global brewing giant said the investment will upgrade 570 pubs, almost a quarter of its UK venues, in 2023.
Heineken runs around 2,400 pubs through its Star Pubs & Bars operation in the UK.
Lawson Mountstevens, managing director of Star Pubs & Bars, said it is particularly important to continue investing in its venues despite the “uncertain” consumer backdrop.
It said the funding will be driven towards its local “neighbourhood” pubs, which have witnessed continued popularity amid pressures on consumer finances and shifts in behaviour following the Covid pandemic.
Mr Mountstevens said: “We know from previous economic downturns that when customers’ disposable income is squeezed, they look for an exceptional experience when they go out.
“A great ambience and attractive surroundings are key and contribute to the value for money that pubgoers seek.
“It’s more important than ever to invest during uncertain times like these, to keep pubs thriving and meeting the needs of their communities.
“Our investment is a vote of confidence in the great British local.”
Funding will also go towards measures to boost sustainability and reduce energy usage, to help reach Heineken UK’s ambition to be net zero through its supply chain by 2040 as well as combating soaring energy costs.
Investment minister Lord Johnson said: “Heineken’s investment is great news, not only creating hundreds of new jobs and improving pubs up and down the country but also making a contribution to our net zero targets.”