Over half (54%) of business leaders at Britain’s top hospitality groups are optimistic about the next 12 months according to a survey from CGA and Fourth. This is an increase of 7 percentage points from the last survey in January and more than double the 22% of people who feel…
Read More »Business
The latest news and updates on the business of foodservice, from the business journalists at Catering Today. We bring you the latest on what’s happening in the restaurants, bars and catering industry, with exclusive stories, analysis, best practice and industry comment.
Upcoming rail strikes in May and June will cost the hospitality industry £132m according to UK Hospitality. Members of the ASLEF union are set to walk out on 31 May and 3 June after the union rejected what it called a ‘risible’ pay offer of 4% per year for two…
Read More »
Turnover for hospitality businesses was down 14.7% in the last year compared with pre-pandemic levels when accounting for inflation. This is according to the UK Hospitality Quarterly Tracker which is created in association with CGA Strategy. The tracker shows that the revenue generated in the last 12 months is 4.1%…
Read More »
Restaurant group MJMK has reached its £1m crowdfunding target within the first hours post launch, with the current total close to £1.2m. The campaign is aimed at raising funds to open a new concept with celebrated chef-partner Santiago Lastra (of KOL) and accelerate the expansion of the popular Casa do…
Read More »
The Compass Group has announced that its profits have surpassed £1bn for the six months ended 31 March 2023. This number is up from £744m in the same period last year which is an increase of 41.1%. The company also posted revenues of £15.8bn, an increase of 24.7% on the…
Read More »
CGA Strategy’s Drinks Recovery Tracker has revealed a “reasonable outlook” for Q1 with wine sales up but spirit sales down. It revealed wine sales have seen growth every week in 2023 as older consumers returned to pubs, bars and restaurants after the pandemic. Meanwhile, beer sales were in year-on-year growth…
Read More »
Britain has suffered a net decline of 4,593 licensed premises in the last year to March 2023, according to the Hospitality Market Monitor from CGA Strategy. The drop is equivalent to 4.3% of the licensed sector since March 2022, and an average of 12.6 closures a day. In better news,…
Read More »
Trade body UK Hospitality has called for all parties involved to “redouble” their efforts to reach a resolution ahead of planned strike action by train drivers. Train drivers from the ASLEF union are set to strike on three dates across May and June dashing hopes of a resolution to the…
Read More »
Premier Inn owner Whitbread Plc has reported that its annual adjusted pre-tax profit increased to £413m, for the 12 months to March 2, 2023 against a loss of £16m the previous year. The report revealed that the result topped the pre-pandemic annual profit level of £358m achieved in 2019-20. Revenue…
Read More »
Some of the world’s biggest buyout firms are exploring the possibility of a joint bid for Subway for around $10bn (£8.3bn), according to Sky News. Advent International, Bain Capital and TPG are considering teaming up in a so-called “club deal” as the second round of bidding comes to a close.…
Read More »