The hospitality industry is set to get a £2bn injection over the Jubilee bank holiday weekend, starting Thursday 2 May. A survey of four leading trade bodies revealed that the sector is looking forward to a 22% increase in trade over the coming four-day celebration. UKHospitality, the British Institute of…
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.
Valor Hospitality, the international hotel management company, has launched a new Chef Development Academy, set to launch in August 2022, in a bid to encourage more people to embark on a culinary career, following a national skills shortage in the sector. In partnership with Umbrella Training, an expert apprenticeship and…
Read More »
Starbucks has announced it will exit Russia and no longer have a brand presence in the Russian market, following the ongoing conflict in Ukraine. The company said it will continue to support the nearly 2,000 green apron partners it has in Russia. This includes paying staff for the next six…
Read More »
UKHospitality has warned that RMT’s proposed national rail strike this summer will “further jeopardise” the recovery of hospitality businesses working to rebuild following the pandemic, in the face of rising costs and a fall in consumer confidence. Kate Nicholls, UKHospitality CEO, said disruption to the rail network will discourage both…
Read More »
The EG Group has reported that its revenues surged 25.1% year-on-year from $5.52bn (£4.4bn) to $6.91bn (£5.5bn) in the three months ending 21 March 2022 (Q1), driven by growth in its foodservice business. Foodservice operations saw a 54% rise in gross profits to $175m (£139.7m), compared to $114m (£91m) in…
Read More »
The SSP Group has reported its revenues surged 212.9% year-on-year to £803.2m for the six month period ended 31 March 2022 (H2), recovering “strongly” with 64% growth compared to pre-Covid levels as the travel sector rebounds. SSP operates brands such as Upper Crust and Ritazza, as well as franchises for…
Read More »
McDonald’s has announced it has initiated a process to sell its Russian business, having entered into a sale and purchase agreement with its existing licensee, Alexander Govor. Last week (16 May), Mcdonald’s announced that it will exit the Russian market after more than 30 years of operations in the country.…
Read More »
McDonald’s Corporation has announced it will permanently exit the Russian market after more than 30 years of operations in the country, and it has initiated a process to sell its Russian business. McDonald’s said the humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, had…
Read More »
The Compass Group has reported that its revenues increased 37.9% year-on-year from £8.4bn to £11.6bn in the six months ending 31 March 2022 (H1), meaning revenues are at 99% of 2019 figures with its run rate now above pre-Covid levels. Operating profits also surged 134.5% from to £673m, compared to…
Read More »
Seasoned, the catering and events firm, has beaten the competition to become an official partner for Sea Life Brighton, expanding on its presence in the seaside resort. The organisation celebrated the contract with a soft launch, inviting local industry colleagues and dignitaries including Brighton and Hove mayor Alan Robins to…
Read More »