27/09/2022
The hospitality sector has voiced disappointment over the lack of detail expressed by the Chancellor of the Exchequer, Kwasi Kwarteng's announcement on the energy support package for businesses in his mini budget on Friday 23 September. Kwarteng told the House of Commons the proposed energy support package will cost £60bn for the six months from October but gave no further details of the scheme, reports Morning Advertiser. Michael Kill, chief executive of the Night Time Industries Association (NTIA), said businesses have been "left out in the cold" by the move.
Brighton Pier Group is celebrating record revenue of £40.1m for the year to 26 June 2022 - however its financial results were published with a note of caution about cost and demand uncertainty. Revenues were up 25% on the same pre-Covid period in 2019, driven by strong trading across all the Group's divisions, reports The Caterer. A consistent gross margin performance, combined with government support from temporary reductions in VAT and business rates, enabled the group to make good progress on maximising earnings and paying down debt.
Like-for-like sales at Britain's managed restaurant, pub and bar groups in August were 2% ahead of the equivalent 2019 pre-Covid period, the latest Coffer CGA Business Tracker shows. The result from the Tracker - produced by CGA by NielsenIQ in partnership with The Coffer Group and RSM UK - means like-for-like sales have now been ahead of or level with pre-pandemic comparatives for seven months in a row, advises Big Hospitality.
Blackstone has agreed to sell British seaside holiday park operator Butlin's back to its former owner, the Harris family, in a £300m deal, reports Property Week. The move comes just a year and a half after Blackstone paid £3bn for Bourne Leisure, which had bought Butlin's in 2000 from its founders the Harris, Cook and Allen families. The US private equity giant said that when the latest £300m deal is completed, Bourne Leisure, one of the largest holiday providers in the UK, will continue to operate its two heritage brands, Haven and Warner Leisure Hotels.
Scratch Consultancy has taken the lease of The Compasses in Chelmsford, as it looks to build an estate of five venues across Essex and North Kent. Scratch, which stands for 'Start Constructing Restaurants Arrangements That Creates History', describes itself as a '360 degree solution, one-stop-shop for F&B brands'. The Compasses is Scratch's second site with Star Pubs & Bars, reports Pub & Bar.
Prime Minister Liz Truss is to launch a major review into Britain's visa systems in a bid to try and alleviate the acute labour shortages in industries such as hospitality, reports Big Hospitality.