18/06/2024 09:31:00
The Restaurant Group's pub arm Brunning & Price has come out top as consumers' highest ranked pub operator, reports Morning Advertiser. The data came from PubTrack, which combines CGA's Outlet Index data with a survey of 10,000 national representative pubgoers, aims to deliver accurate insights into guest behaviours and sentiment towards a wide range of metrics. It breaks down factors such as region and market segment, revealing guests' expectations, preferences and spending drivers.
Fuller's has reported an 11% improvement in like-for-like sales having delivered 7% growth in revenue to £359m. The Caterer reports that the operator of 179 managed and 190 tenanted pubs said it had additional confidence in the coming year, particularly with inflationary pressures lightening. Adjusted profit before tax stood at £20.5m for the 52 weeks to 30 March 2024 after food sales increased 14.5% and drink sales rose 9.8% on a like-for-like basis. Fuller's said the positive momentum has continued, with like-for-like sales for the 10 weeks to 8 June up 4.4%.
Pubs and bars could be set for an almost billion pound boost, if the Three Lions are victorious this summer, says Caterer Licensee Hotelier News. As the tournament kicks off, new analysis from leading trade body UKHospitality estimates the group stage alone will generate an additional £340m in sales for hospitality venues across the UK, rising to £800m if England win the tournament. Two in five Brits planning to watch the football will do so in pubs and bars, with sales of beer increasing by 14% on matchdays, according to CGA by NIQ.
In the past 14 years, revenue from business rates has increased by £9.48bn a year, according to analysis from one real estate intelligence firm, says Morning Advertiser. Data from Altus Group showed that this was up 49% from the £19.8bn net yield during 2010/2011 in England to £28.76bn forecasted to be collected during this financial year. Altus Group, president of property tax Alex Probyn said: "The Average pub, restaurant, shop, office and factory are now paying £4,714 a year more in business rates tax than in 2010 through the cumulative effects of increasing the tax rates by inflation. The choice to increase the standard rate of tax by 6.7% left firms in April with the biggest year on year increase in the standard rate business rates since 1991 at an effective tax rate of 54.6%".
The UK eating out market is expected to grow by 2.8% this year, according to new data from Lumina Intelligence. The annual UK Eating Out Market Report, which sheds light on the current trends and future prospects of the restaurant industry, indicates that the space is expected to reach a total value of £99.4bn in 2024, outpacing its pre-pandemic value by 8.2%, advises the Restaurant. The market is expected to grow ahead of inflation, indicating growth from stronger volumes following the impact of economic fallout from 2022 to 2023.
Continuing its global expansion, London will be the eighth Virgin Hotels location as it brings the brand home to its birthplace and where it all started for Sir Richard and the Virgin Group. It will become the 17th property for the wider Virgin Hotels Collection, having just announced a new property in Kenya and following the successful launches of Virgin Hotels Edinburgh and Virgin Hotels New York in 2023. The hotel will form part of a long-term agreement between Virgin Hotels and Reuben Brothers real estate investment and development, advises Hospitality & Catering News. It will bring Virgin's trademark to one of London's most vibrant neighbourhoods, known as a hub for tech, fashion, culture and creative arts. The 120-bedroom hotel, located at 45 Curtain Road in the heart of Shoreditch, part of London's East End landscape. Its seven other luxury lifestyle hotels are also located in urban locations across key cities in the US and UK.
Pubs and bars could be set for an almost billion pound boost, if the Three Lions are victorious this summer, says Caterer Licensee Hotelier News. As the tournament kicks off, new analysis from leading trade body UKHospitality estimates the group stage alone will generate an additional £340m in sales for hospitality venues across the UK, rising to £800m if England win the tournament. Two in five Brits planning to watch the football will do so in pubs and bars, with sales of beer increasing by 14% on matchdays, according to CGA by NIQ.