22/02/2022
Inn Collection bought by Harris family and Kings Park Capital
North-based pub company The Inn Collection Group has been acquired by a new company backed by The Harris Family Trusts together with Kings Park Capital, advises Big Hospitality. The deal will see the 31 site pubco continue "trading as normal" with its existing teams, as it continues to roll out strategic "buy and build" growth plans to expand its pubs with rooms model across the North of England and North Wales.
The full extent of Covid-19 on the hospitality industry revealed
The full extent of the damage done to the hospitality industry by Covid-19 has been revealed as a £115bn loss. As one of the hardest hit by the pandemic, the sector has seen £114.8bn of sales lost versus what was expected for 2020/21. With a full 24-months of data available, hospitality, which in normal times generates up to £140bn a year, has lost 43% and 45 full weeks of sales since March 2020, reports Pub & Bar. The latest edition of the UKHospitality and CGA Quarterly Tracker has revealed that hospitality did see a £17.3bn (121%) final quarter growth in 2021 compared to the same period the year before.
The staycation boom is here to stay
UK holiday let owners are preparing for another busy year as bookings for staycations continue to surpass pre-pandemic levels, reports Property Investor Today. Holiday home rental agency, Sykes Holiday Cottages has revealed that bookings so far this year are up 22% versus the same point in 2020. What's more, there has been a 158% rise in bookings compared to the same period last year. Sykes' income data revealed that holiday homeowners earned on average £28,000 annually per property last year, compared with almost £21,000 in 2019. The company believes this figure is set to rise yet again this year as bookings and occupancy continue to soar.
Pubgoers told to expect surge in UK beer prices as brewing costs soar
British pubgoers have been put on notice that they face sharp increases in the price of a pint as mounting inflationary pressures in the brewing industry combine with rising staff and utility costs and the looming end of coronavirus tax relief. Beer industry executives and analysts warned that drinkers had yet to feel the full impact of brewers' rising costs, which Dolf van den Brink, Heineken's chief executive, last week described as "off the charts", reports the Financial Times.
Delivery sales at restaurant and pub chains up 422% on pre-pandemic levels
The boom in food delivery demand shows little sign of slowing, with restaurant and pub groups reporting sales of five times their pre-pandemic levels in January. According to the latest CGA and Slerp Hospitality at Home tracker, large groups recorded a 422% increase in delivery sales by value last month compared to January 2019, while takeaway sales were up 29%. Deliveries and takeaways accounted for nearly 30p in every pound spent at managed pubs and restaurant groups in January and drink orders are becoming increasingly popular, and were worth just over 9% of total delivery sales in January, reports The Caterer.
And Finally...
McDonald's plan to create metaverse restaurants that deliver to your home. According to Hospitality & Catering News, the fast food giants have applied for 10 metaverse related patents that seek to allow it to deliver food online and in person, offer entertainment services, sell non-fungible tokens (NFTs) and more.