Finance - Hospitality

PROPERTY ROUND-UP

Fuller's and BrewDog open sites, At the Chapel bought by pubco

28-Jul-2022 By Amelie Maurice-Jones

It's a big week for Fuller's who have launched several sites, with a new BrewDog opening in Bristol and Somerset restaurant At the Chapel changing hands.

‘Thousands of pubs could close over soaring utility bills’

28-Jul-2022 By Nikkie Thatcher

The Government has been urged to step in and help hospitality businesses to prevent thousands from closing due to rocketing energy prices, a procurement firm has warned.

Marston's third quarter sales down 2%

27-Jul-2022 By Shwetali Sapte

Marston’s has reported like-for-like (lfl) sales were down 2% in the 42 weeks to 23 July, compared to the same period in FY2019.

Businesses warned to prepare for 'difficult period'

27-Jul-2022 By Rebecca Weller

Businesses must prepare for a difficult period as fresh food inflation soared to 8% in July 2022, the fastest rate of increase since April 2012, according to the British Retail Consortium (BRC).

Job progression and community feel can help conquer recruitment crisis

27-Jul-2022 By Amelie Maurice-Jones

Long-term progression, a sense of community and exciting perks are just a few things that will draw staff to pubs, according to co-founder of hospitality recruitment company James & Cranwell.

Robinsons turns loss into £4.5m profit

27-Jul-2022 By Gary Lloyd

Stockport-based brewer and pub operator Robinsons Brewery has announced an operating profit of £4.5m after ploughing £3.5m into its managed and tenanted pub estates.

Race to No.10: Sunak vs Truss on inflation and levelling up

26-Jul-2022 By Rebecca Weller

Taking part in a head-to-head debate on the BBC last night (Monday 25 July), Prime Ministerial (PM) candidates Rishi Sunak and Liz Truss discussed how they would tackle inflation, economic security and levelling up.

Operating costs now at more than half of turnover

26-Jul-2022 By Nikkie Thatcher

Hospitality businesses’ operating costs have risen to 55.2% of annual turnover before rent – the highest level for 15 years, it has been revealed.

Digitalising business rates could weaken local authority powers

25-Jul-2022 By Amelie Maurice-Jones

The Government’s plans for digitalising business rates (DBR) set out last week could marginalise power among local authorities, according to Colliers.

BBPA calls for reform of 'outdated' business rates system

25-Jul-2022 By Rebecca Weller

The British Beer & Pub Association (BBPA) has called on the Government for a cap on bill increases and a review of the sector’s businesses rates.

Gov urges pubs to sign up to cheap meals campaign

22-Jul-2022 By Rebecca Weller

The Government has announced the launch of its Help for Households campaign, urging businesses to offer discounts over the summer holidays in a bid to tackle the cost-of-living crisis.

Average pub dish price up 2.3%

22-Jul-2022 By Nikkie Thatcher

The average cost of a dish on a pub and bar menu has risen by 2.3%, according to data from Lumina Intelligence.

Adaption will be key to survival

21-Jul-2022 By Ed Bedington

The MA's Ed Bedington caught up with Lee Price operations director of the Royal Pier in Aberystwyth for his take on the week's news, from escalating costs to the rising temperatures.

Red Mist founders exit to create new pub company

21-Jul-2022 By Ed Bedington

The founders of Red Mist have exited the business to set up a new pub company New Dawn Pubs, taking four of the former Red Mist sites and are in the process of acquiring a fifth.

Food drives like-for-like sales at M&B

21-Jul-2022 By Gary Lloyd

Multi-brand pub and restaurant operator Mitchells & Butlers (M&B) has announced a 0.9% like-for-like sales boost in the 42 weeks up to 16 July 2022 with food being the main driver.

Fuller’s buoyed by 3% sales boost

21-Jul-2022 By Gary Lloyd

London-based pub operator Fuller, Smith & Turner (Fuller’s) has announced total sales are up 3% on pre-pandemic levels and it has three sites in the pipeline, in its latest trading update.

Recovery Loan Scheme to be extended

20-Jul-2022 By Rebecca Weller

Secretary of State for Business, Energy and Industrial Strategy Kwasi Kwarteng yesterday (Wednesday 20 July) announced the Recovery Loan Scheme (RLS) was to be extended for a further two years in an effort to support businesses grappling with rising costs...

Free ‘alfresco’ licences up for grabs to city pubs

20-Jul-2022 By Amelie Maurice-Jones

Pubs and bars in Square Mile, central London, are gearing up for a summer of ‘alfresco’ dining after the City of London Corporation agreed to grant free pavement licences to hospitality businesses.

British holidaymakers urged to visit pubs

20-Jul-2022 By Amelie Maurice-Jones

The British Beer & Pub Association (BBPA) is urging Brits to visit pubs as part of their staycation this summer, with warm weather set to continue after this week’s heatwave.

Like-for-like sales up 5% in June

20-Jul-2022 By Amelie Maurice-Jones

June’s like-for-like sales at Britain’s top managed pub, bar and restaurant groups were 5% ahead of pre-Covid levels in June 2019, the latest Coffer CGA Business Tracker has revealed.

UKH: reductions under reformed business rates must be reflected fast

20-Jul-2022 By Gary Lloyd

Sector businesses must be granted any reduction under reformed business rates as “rapidly as possible” says UKHospitality.

Biffa to run Scottish Deposit Return Scheme

19-Jul-2022 By Gary Lloyd

Waste disposal business Biffa has been appointed as the logistics provider to ensure maximum recycling of drinks containers for the Deposit Return Scheme (DRS) in Scotland.

RedCat acquires two Berkeley Inns sites

19-Jul-2022 By Nikkie Thatcher

The investment vehicle founded and chaired by former Greene King boss Rooney Anand, RedCat Pub Company has bought two pubs from Berkeley Inns.

Drinks sales down 1% vs 2019

19-Jul-2022 By Rebecca Weller

Average sales by in Britain’s managed pubs, bars, and restaurants in the seven days to Saturday 9 July were 1% down on the same week in 2019, the latest CGA Drinks Recovery Tracker has shown.

Operators’ food costs soar by up to 40%

19-Jul-2022 By Amelie Maurice-Jones

Spiralling costs and supply chain disruption are having a dramatic and unprecedented impact on hospitality operators’ food and drink bills, new research from Fourth has revealed.

New Prime Minister must support pubs, says BBPA

18-Jul-2022 By Amelie Maurice-Jones

Amidst the race to become the new Prime Minister, the British Beer and Pub Association (BBPA) has issued all Conservative candidates a manifesto setting out what action needs to be taken to help the industry.

Barkby Group reports 122% revenue boost to pub arm

18-Jul-2022 By Gary Lloyd

Gastropub operator Barkby Group has reported revenue rise of 122% in its latest FY results ended 2 July 2022, and added it will look to dispose of non-core assets to focus on its property development business and pub arm.

15% of pubs say business no longer viable

18-Jul-2022 By Amelie Maurice-Jones

The British Institute of Innkeeping (BII) has called for Government support to ensure the future survival of pubs, after a survey of its members revealed the fragility of the sector as it battles huge economic challenges.

Allocation of Tips Bill 'welcome boost'

18-Jul-2022 By Rebecca Weller

The terms outlined in the Allocation of Tips Bill were “absolutely right” and a “welcome boost” according to trade bodies and industry leaders across the sector.

Inflation in foodservice sector tops 10%

15-Jul-2022 By Rebecca Weller

Inflation in the foodservice sector topped 10% for the fourth successive month in May, the latest edition of the CGA by NielsenIQ and Prestige Foodservice Price Index has revealed.

Loungers plans to open ‘at least’ 500 sites

14-Jul-2022 By Gary Lloyd

All-day bar-restaurant brand Loungers said it expects to open at least 500 sites across its Lounge and Cosy Club brands, after reporting a record year of financial and operational progress.

GDP grows 0.5% but sector remains behind

14-Jul-2022 By Rebecca Weller

The hospitality sector saw a decline in May despite the UK economy having grown by 0.5%, the latest figures from the Office for National Statistics (ONS) have revealed.

Pubs code labelled ‘wholesale failure’

13-Jul-2022 By Amelie Maurice-Jones

The pubs code came under fire as a “wholesale failure” at the Business, Energy and Industrial Strategy (BEIS) committee meeting yesterday (12 July), designed to assess the usefulness of the code.

Hospitality recovery thwarted by staff shortages and spiralling costs

13-Jul-2022 By Amelie Maurice-Jones

Sales are back to pre-Covid levels, but 15% of roles remain vacant, costs are spiralling and consumer spending is being hit by cost-of-living challenges, a report has revealed.

JDW ‘cautiously optimistic about future’

13-Jul-2022 By Nikkie Thatcher

JD Wetherspoon (JDW) has reported like-for-like sales had dropped by 0.4% in the first four weeks of quarter four of the current financial year.

Next Tory leader must reform business rates

13-Jul-2022 By Gary Lloyd

Tory leadership hopefuls must reform business rates and rule out a phased downwards transition to cut tax and save the high street, according to commercial estate agent Colliers.

Corporate meetings 'big opportunity' for pubs

13-Jul-2022 By Rebecca Weller

Pubs offer a versatile space to hold corporate meetings but the industry needs to do more to utilise what pubs already offer to capitalise on this market, according to leaders across the industry.

Consumer spending remains relatively flat

12-Jul-2022 By Nikkie Thatcher

Spending in pubs, bars and clubs was relatively flat at 0.1% last month (June) compared to the May, data has found.

Pubs warned ‘dairy isn’t cheap any more’

11-Jul-2022 By Nikkie Thatcher

Amid reports of a potential dairy shortage, on-trade operators have been urged to shop around when purchasing and make sure they make the most of such goods to ensure their spend is not wasted.

Drink sales down 3% vs 2019

11-Jul-2022 By Rebecca Weller

Average sales by value in Britain’s managed venues in the seven days to Saturday (2 July) were 3% down on the same week in 2019, according to the latest CGA Drinks Recovery Tracker.

£17.5k prize fund for Guild of Beer Writers competition

11-Jul-2022 By Gary Lloyd

The Guild of Beer Writers’ annual awards have opened for entries with 16 categories available and a chance to win a share of the £17,500 prize fund.

Oakman contemplates minority stake sell-off

08-Jul-2022 By Finn Scott-Delany

Oakman Group is in talks with private equity groups to put more cash in the balance sheet and accelerate its expansion plans, MCA’s Pub Conference has heard.