Interest Rates
Coverage examines how changes in interest rates affect the UK hospitality and foodservice sector, including impacts on borrowing costs, business investment, consumer confidence, and property finance. Reporting provides context and analysis to help restaurant groups, pub operators, and catering businesses understand the financial environment and make informed strategic decisions.
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Sep- 2024 -19 SeptemberNews
BoE holds interest rates at 5%
The Bank of England (BoE) has decided to hold interest rates at 5% this month, having lowered them for the first time in four years in August. The bank voted by a majority of 8-1 to keep the rate the same in a bid to help “sustain growth and employment”.…
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Aug- 2024 -1 AugustNews
BoE cuts interest rates for first time in 4 years
The Bank of England (BoE) has cut interest rates for the first time in four years, with the rate falling to 5%. The bank voted by a majority of 5–4 to reduce the rate by 0.25 percentage points to 5%, marking the first fall in inflation since March 2020, where…
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Jul- 2024 -31 JulyRestaurants
Turtle Bay FY sales hit ‘record’ £93.7m
Caribbean-themed restaurant chain, Turtle Bay, has reported a sales rise of 6.1% to a record high of £93.7m for the 52-week period to 31 March. According to the group, it managed to bounce back “quicker and stronger” following the pandemic and experienced “industry-leading” like-for-like growth in its estates with further…
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15 JulyVenues & Properties
Market activity for pubs and restaurants improves in H1
Pub and restaurant market activity has seen an improvement in the first half of 2024 compared with the “subdued” levels seen last year, according to Christie and Co’s Pubs and Restaurants Mid-Year Market Insight report. It comes as the property adviser’s transactional metrics trended upwards since January this year, albeit…
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Jun- 2024 -20 JuneNews
BoE holds interest rates for 7th consecutive month
Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced. The bank’s MPC voted by a majority of 7–2 to maintain the rate, despite inflation hitting its target and falling to 2% in May. UK inflation hit its target for the first…
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May- 2024 -23 MayFood and Drink
Hospitality YoY sales drop 1.7% due to more wet weather
Britain’s top hospitality groups saw sales drop 1.7% year-on-year in April after widespread wet weather, the new CGA RSM Hospitality Business Tracker has revealed. It comes as the first year-on-year drop in monthly sales since September 2022 and in sharp contrast with March, when the sector achieved 5.3% growth due…
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22 MayNews
Food and Beverage M&A activity reaches highest deal volume since 2016
M&A in the UK food and beverage sector reached its highest deal volume since T1 2016 according to the new UK Food and Beverage Sector M&A report by Oghma Partners. For the first four months of 2024, there has been an increase by 30.3% in the volume of deals (43…
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10 MayPubs and Bars
Pubs sales up 16.8% in wake of bank holiday weekend
Transactions at pubs, bars and clubs reached a 2024-high on Saturday 4 May, as the sunny weather and bank holiday weekend encouraged Brits to make a trip to their local area, according to Barclays Consumer Spend data. Transactions were up 16.8% in comparison to the previous Saturday, and 2.5x as…
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Mar- 2024 -26 MarchPubs and Bars
Nearly 75% of consumers visited a pub or bar over Christmas
Nearly three quarters (73%) of consumers visited a licensed venue over the festive season, according to data from CGA. However, the number of people going out fell by five percentage points year-on-year, as high inflation put pressure on spending. Nearly all (97%) consumers told CGA they had been affected by…
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14 MarchFood and Drink
Hospitality sales rise ‘modest’ 1.4% in February
Top hospitality groups across the country saw modest like-for-like sales growth of 1.4% in February, according to the latest CGA RSM Hospitality Business Tracker. The data has shown a slow start to 2024 within the sector, following marginal growth of 0.1% in January in the wake of strong trading over…
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