Competitive Advantage

Predictions vs reality: testing OakNorth’s outlook on hospitality

The hospitality trade is a hard one. It runs hot in summer, cold in winter, and never moves in straight lines. Despite costs rising and customers shifting, the doors must open and the lights must stay on. As a lender to hotels, pubs and restaurants, OakNorth sees much of this…

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Pubs and bars gear up for Six Nations sales bump

After a challenging start to 2024 for pubs, bars and drinks suppliers, the Six Nations rugby tournament is set to deliver a welcome boost to sales, according to data from CGA. CGA research confirms the appetite for sport, with one in nine (11%) consumers visiting a venue to watch a…

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Why sustainability is key for attracting and retaining hospitality staff

It’s no secret that these are challenging times for our sector. Staff shortages, rising food costs and increasing energy bills are putting significant pressure on operators. However, according to the statistics in the latest report ‘Sustainability Matters: What teams want and how brands can win,’ in partnership with hospitality data…

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Compass Group revenues grow 15% in Q3

Foodservice company, Compass Group, has revealed that its performance was strong in the third quarter ended 30 June, with organic revenue growing 15%, despite lapping higher comparators due to recovery of base volumes.   The group also revealed that year-to-date organic revenue growth was 21% after benefiting from “excellent” client retention…

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Over a third of people spend more in sustainable venues

Over a third of pub and restaurant goers in the UK are prepared to spend more than usual in venues with strong sustainability credentials, according to a report from CGA strategy. The report also found that nearly half of Gen Z and millennials were more likely to spend more at…

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Compass Group HY profits surpass £1bn

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…

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Scoffs Group appoints new CFO

The largest franchised partner with Costa Coffee, Scoffs Group UK, has recently announced the appointment of Jim Williamson as its new chief financial officer.  Williamson joined the company on 3 April 2023 and will lead Scoffs Group’s end to end financial operations as well as prepare the business for its…

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Rockfish sales hit £13m amid new post-Covid model

Rockfish, the nine-strong seafood restaurant group led by Mitch Tonks, has announced sales hit £13m during the year ended April 2022 as it moved to a new post-Covid business model. The restaurant also reported EBITDA of £2.9m and group EBITDA £1.34m. The company reported its most “significant change” for Rockfish…

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Searcys partners with SevenRooms and TheFork

Searcys has announced a new partnership with TheFork and SevenRooms. It revealed that integrating TheFork, an online reservations platform and SevenRooms, hospitality guest and retention platform, will allow Searcys’ venues to increase online reservations and offer “seamless” management of its front of house and guest experiences. According to Searcys, it…

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Why employee experience is key in gaining a competitive advantage in hospitality

Did you know that employee turnover in the hospitality industry is 15% higher than the national average? When it costs an average of £75 for each casual worker you add to your team, the costs can quickly add up. Here’s how to avoid that situation and help your people develop…

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