Business

Whitbread has revealed that it expects to increase its total costs by £20m – £30m in FY23 due to targeted pay increases and the labour supply remaining “tight” across the hospitality sector. The Premier Inn operator will also bring forward its investment in refurbishments and maintenance projects, as well as…

Pret A Manger has reached an agreement with the Ibersol Group to launch the Pret brand and products across Spain and Portugal. Under the terms of the agreement, Ibersol Group will bring Pret’s food and organic coffee to the two countries. The agreement comes as Pret steps up its global…

Revolution Bars Group plc has reported confidence in delivering adjusted EBITDA after rental charges “slightly ahead” of market expectations for the financial year to date, ahead of the group’s 2 July 2022 year end, currently standing at £10m. This follows “positive” trading over the Jubilee Bank Holiday, and the business…

Hospitality workers are among the least likely to receive a pay rise from their employers in order to help them through the cost of living crisis, according to a new survey. The study, from personal finance experts Forbes Advisors, surveyed over 5,100 UK adults and found that lowest of all…

The Liberation Group has reported its underlying EBITDA hit £9.53m, compared to a loss of £795m in 2021 for the 52 week period ended 29 January 2022, despite another year of disruption due to Covid. Group operating profit also increased from a loss of £9.38m to £2.52m, with group turnover…

Approximately half (48%) of businesses currently trading have reported that the prices of materials, goods, or services bought in April 2022 had increased from March 2022, while 23% reported that prices sold had increased across the same period. According to the Office for National Statistics (ONS), 12% of businesses that…

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…

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…

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…

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…