News
The latest industry news 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.
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Mar- 2024 -20 March
Greene King achieves Best Bar None nationwide accreditation
Pub company and brewer Greene King has become the first hospitality business to achieve the nationwide Best Bar None accreditation. Best Bar None is recognised within the hospitality industry for identifying well-run licensed premises and the multi-site accreditation scheme is a new venture for Best Bar None, designed to complement…
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20 March
Soho House revenues hit $1.1bn in FY23
Soho House has reported that total revenues increased 16.8% year-over-year to $1.1bn (£870m) for the year ended 31 December 2023. During the year, membership revenues rose 32.5% to $361.5m (£284.7m), accounting for 31.8% of total revenues. Meanwhile, in-house revenues grew to $482.1m (£379.7m), spelling a 13% year-over-year rise. In addition,…
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19 March
Today’s news in brief – 19/03/24
Prezzo has reported a return to profitability following a strategic review of the business in April 2023, which saw it close almost a third of its restaurants. In the year ended 1 January 2023, the Italian casual dining group’s revenues also rose to £135m from £95m following an increase in…
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19 March
Government to fully fund small business apprenticeships
The Government has announced that it is set to fully fund apprenticeships in small businesses from 1 April by paying the full cost of training for anyone up to the age of 21. Furthermore, large employers who pay the apprenticeship levy will now be able to transfer half of their…
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19 March
Pan-Asian restaurant UBA to open in April in London
The team behind Soho’s Sucre and the recently opened CLAP London has announced a new Pan-Asian dining concept in Shoreditch with the upcoming opening of UBA. Set to open on 2 April, the 275 sqm space is located on Great Eastern Street and forms part of the Hart Shoreditch Hotel.…
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19 March
Prezzo returns to profitability following strategic review
Prezzo has revealed that revenues rose to £135m from £95m in the year ended 1 January 2023, following an increase in menu prices and a focus on efficiency. As a result, the Italian casual dining group’s profit margin also saw an uptick from 31.2% to 35%. However, macroeconomic challenges during…
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19 March
Six Nations Super Saturday provided pubs with 23% boost
Spending at pubs increased 23% year-on-year this Super Saturday, as the final round of the Six Nations saw Ireland taking home the title for the second year in a row, according to the new Barclays Consumer Spend data. In addition to the year-on-year growth, the volume of transactions at pubs…
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18 March
Today’s news in brief – 18/03/24
Nightcap revenues grew 42.1% to £33.4m in H1 ended 31 December 2023. The bar group has attributed its performance to the acquisition of Dirty Martini and the successful collaboration with The Piano Works over the Christmas period. As of December 2023, the group had cash of £3.1m and total bank…
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18 March
Drinks sales spring back to year-on-year growth
Drinks sales in the UK jumped 5% in the week ended 9 March following tough trading conditions in January and largely flat sales in February. Sales were up year-on-year on six of the seven days of the week, helped by big sporting events like the Manchester Derby in the Premier…
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18 March
Nightcap revenues rise 42.1% to £33.4m in H1
Nightcap has reported that revenues grew 42.1% to £33.4m in the interim 26-week period ended 31 December 2023. The bar group has attributed its performance to the acquisition of Dirty Martini, the successful collaboration with The Piano Works over the Christmas period, and the maturing of sites opened in the…
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