The UK’s tourism and recreation sector accelerated the country’s economic recovery in May coming out of lockdown, according to the latest Lloyds Bank UK Recovery Tracker. Due to the pent-up demand from consumers, the sector recorded the sharpest rise in output growth month-on-month due to renewed interest in the country’s…
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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.
SSP Group, the travel food and beverage outlets operator, saw its pre-tax loss on a reported basis under IFRS 16 spike to £299.7m for the six months ended 31 March 2021. The 774% increase in losses can be attributed to a 78.8% year-on-year decline in group revenues, falling from £1.21bn…
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Business investment in the hospitality industry fell 13.7% last year, according to the latest analysis of ONS data by business tax relief specialist Catax. Business investment in hotels and restaurants also fell by £621m in 2020, dropping from £4.6bn in 2019 to £3.9bn. The sector also recorded a big slump…
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The mayor of London has pledged to tackle the major staffing shortages across the hospitality industry that threatens to undermine the city’s recovery from Covid-19. The news follows a recent survey which showed that around one in three hospitality venues do not have enough staff to cope with re-opening post-lockdown,…
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A group of hospitality operations, led by the Radisson Red’s curator Graham Chalmers, has launched a campaign urging the public to be considerate and help restaurants, hotels and bars survive. The #Bekindtohospitality campaign promotes awareness of mental health issues among workers in the hospitality sector, particularly around stress and anxiety.…
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US-based chicken wing restaurant group Wingstop has announced a minority investment into its UK franchisee-owned Lemon Pepper Holdings (LPH). The group claimed that the investment follows the UK’s strong performance, and represents the firm’s confidence in the market as a lever for global expansion. Wingstop made a 100-restaurant sole UK…
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Some 79% of managed restaurant, pub and bar sector business leaders feel optimistic about the next year, according to CGA’s latest business confidence survey. This represents the highest confidence level since February 2015, and has risen very sharply from the quarterly survey’s results in October (18%) and February (50%). Furthermore,…
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Electra Private Equity, the owner of TGI Fridays, has revealed that plans to list the restaurant chain on the FTSE Main Market in Q3 of this year are “well advanced”. The announcement came as a part of the group’s results for the half year to 31 March 2021, where it…
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Thunderbird Fried Chicken has announced the appointment of Nick Moule as the new head of operations at the group. Moule will provide the role with a “wealth of operational experience”, having previously held senior roles at Mitchells and Butlers and Stonegate. During his time at the two groups he was…
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UKHospitality is calling on chancellor Rishi Sunak for further support by improving access to capital for businesses and sticking to the government’s roadmap of lifting restrictions after 21 June 2021. The latest data from CGA’s Drinks Recovery Tracker showed that during the Bank Holiday weekend, many operators and drinks sales…
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