24/01/2023 14:07:00
Revolution Bars Group has a strong pipeline in place but remains focused on integrating Peach Pubs into the company in the short term, according to chief executive Rob Pitcher. Morning Advertiser reports that the 90-strong pub and bar operator recently revised its profit expectations following its first half of the financial year update last week, with group like-for-like sales down 9% on 2019 despite strong corporate trade, due to the impact of rail strikes on walk-in trade.
Pub group Fuller's has estimated that industrial action since October cost the business around £4m, and said earnings for the year are anticipated to be lower than expected as a result, reports The Caterer. In a trading statement, the group said sales for the four-week Christmas and New Year period increased by 38% against last year, a period impacted by Covid restrictions and work from home guidance. Due to the impact of the train strikes, sales compared to the same four weeks in 2019 were down 5%. Like-for-like sales for the 43 weeks to 21 January 2023 were up 20% on last year, "despite the challenging consumer backdrop". In comparison to pre-pandemic levels, sales were 97% of the same period in the 2020 financial year.
The annual inflation rate for restaurants and hotels hit a 31-year high of 11.4% last month, according to new figures from the Office for National Statistics (ONS). Rising from 10.2% in November, it's the highest price inflation rate recorded across the hospitality sector since the constructed historical estimate of 11.4% in September 1991. Big Hospitality advises that alongside price rises in the food and non-alcoholic beverage category, it was also one of the largest upward contributors to the overall inflation rate in December.
One of Leeds' oldest pubs has been acquired in a six-figure deal by John Quinlan, the owner operator of Harrogate's Three's A Crowd. The Reliance, a Leeds institution, will be Quinlan's second location and his first outside of his north Yorkshire hometown. Pub & Bar report that it will reopen in February following further investment into its refurbishment.
UK consumers are continuing to book staycations in 2023 despite the cost of living squeeze on household incomes and the opening up of international travel, according to a recent survey of 1,000 consumers. The survey, on behalf of audit, tax and consulting firm, RSM UK, found over a third (36 per cent) of respondents are planning to take a short break of one to four days in the UK over the next 12 months, which is unchanged from 2022. At the same time, 28 per cent of consumers are planning to take a long stay break of five or more days in the UK (down just one per cent from 2022), reports Boutique Hotel News.
A private member's bill intended to ensure hospitality staff receive all the money left to them in tips by customers is closer to becoming law after clearing the Commons, advises Big Hospitality.