05/09/2023 10:35:00
Optimism among hospitality bosses has risen for the third quarter in a row despite pressure on consumers' disposable income, reports the Morning Advertiser. The research showed 62% of leaders feel optimistic about prospects for their business over the next 12 months, which is an increase of eight percentage points from the last survey in May. The proportion of leaders feeling confident about the hospitality market in general has climbed by five percentage points quarter-on-quarter, to 45% according to the Business Confidence Survey from CGA by NIQ and Fourth.
Upmarket Leisure has acquired Radio Rooftop, the bar within five-star ME London. The deal strengthens Upmarket Leisure's strategic partnership with Meliá Hotels International, Spain's largest hotel group, with the acquirer's plans being to enhance the food and beverage offerings, reports Hospitality & Catering News. With over 20 years' experience in owning, operating, and investing in premium restaurants and bars, Upmarket Leisure takes over all food and beverage operations including Radio Rooftop, Marconi Bar, ME events and in-room dining with immediate effect.
UK pubs will have benefitted from a boost over the long weekend with around 57 million pints poured and enjoyed, but five million more, worth £22m, could have been sold if many weren't battling with staff shortages. Caterer Licensee Hotelier News reports that as the holidays drew to a close, pubs welcomed people looking to enjoy glimmers of sunshine and the long weekend. But the hospitality provided was not without its challenges, with staff shortages currently holding back many pubs from fulfilling their full potential, with revenue likely down around 8% as a result.
Lina Stores, the London-based Italian restaurant and delicatessen, is set to open Bar Lina this autumn, a hidden aperitivo bar beneath the well-known Soho site, advises Pub & Bar. Historically used as the Lina Stores fresh pasta kitchen, the downstairs space has been transformed into a candle-lit aperitivo bar with 28 covers, inspired by Italian design from the late 1960s to 1980s, with a monochrome, dark red colour scheme.
Dishoom neared £100m turnover in 2022 and expects to return to pre-pandemic levels of profitability in 2023, according to its latest filings to Companies House. Reporting accounts for last year, the Indian restaurant group grew turnover by 64% to £94.9m (2021: £57.6m), driven by uninterrupted trading and new openings. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was £9.4m (2021: £4.8m), while profit before tax was £4.78m (2021: £1.51m), reports the Restaurant.
Twelve restaurants, including Margot Henderson's the Three Horseshoes in Somerset and Boys Hall in Kent, have been added to the Michelin Guide Great Britain and Ireland's selection this month, advises The Caterer.