Finance

Ofgem proposals ‘needed for fairness’ says UKH

08-Dec-2023 By Amelie Maurice-Jones

UKHospitality (UKH) has backed Ofgem’s proposals to expand existing rules of standards of conduct to al businesses.

Brits set to spend £7.4bn on Christmas partying

07-Dec-2023 By Amelie Maurice-Jones

Brits are planning to spend three times more than last year on Christmas partying, new research has revealed.

Night czar: overseas salary plans ‘risk huge damage to sector’

06-Dec-2023 By Gary Lloyd

London night czar Amy Lamé fears plans to raise the minimum salary required for skilled overseas workers will hit the hospitality sector hard.

35.9m pints poured in first week of festive runup

05-Dec-2023 By Amelie Maurice-Jones

The festive season has well and truly commenced, with 35.9m pints being sold in the first week of the run up to Christmas according to new research.

Marston’s revenue rises 9%

05-Dec-2023 By Gary Lloyd

Marston’s pub company has reported a 9% uplift in revenue in its preliminary results for the 52 weeks ended 30 September 2023.

Drinks sales down but hopes up for strong Christmas

05-Dec-2023 By Amelie Maurice-Jones

On premise drinks sales were down by 5% year-on-year in the week to last Saturday (25 November)—but there are grounds for optimism as the run-up to Christmas begins.

M&B reports record market outperformance

01-Dec-2023 By Shwetali Sapte, MCA

Mitchells & Butlers (M&B) has reported financial results for the year ended 30 September 2023 (FY23), with like-for-like (lfl) sales growth of 9.1% against FY22.

Breweries pushed into insolvency due to rising interest rates

01-Dec-2023 By Rebecca Weller

Nearly as many craft breweries went out of business in the first half of 2023 as the whole of last year due to a surge in interest rates, data from Price Bailey has revealed.

Xmas rail strikes cast 'dark shadow' despite RMT deal

30-Nov-2023 By Rebecca Weller

Industrial action will cause a “dark shadow” over festive trade despite rail unions pay deal to end dispute ahead of next year’s Spring strikes.

Foodservice price inflation drops 20%

30-Nov-2023 By Amelie Maurice-Jones

Foodservice price inflation (FPI) decreased for the fifth consecutive month in October, the CGA Prestige Foodservice Price Index has revealed.

POLL: How much of an impact will the NLW rise have on your business?

29-Nov-2023 By Amelie Maurice-Jones

From April 2024, workers aged 21 and over will be eligible for NLW with the rate for that age bracket being £11.44, rising from its current level of £10.42.

Ex-England cricketers’ pub celebrates first anniversary

29-Nov-2023 By Amelie Maurice-Jones

Ex-England cricketer Harry Gurney feels “pretty ecstatic” as his pub surpasses trading expectations while rounding off its first year of opening.

Bibendum top wine trends for 2024

29-Nov-2023 By Rebecca Weller

Close to nine out of 10 consumers would recommend a venue where they rated the wine offering as “very good or excellent”.

Admiral licensees raise more than £1m for charity

29-Nov-2023 By Rebecca Weller

Admiral Taverns operators have raised more than £1m for local causes over the past 18-months, the pubco has announced.

PROPERTY ROUND UP

Trio takes on Shepherd Neame pub

28-Nov-2023 By Amelie Maurice-Jones

Three friends have come to the helm of a Shepherd Neame pub, while another venue has launched a fish & chip shop as operators expand their estate.

Loungers to create 1,000 jobs, CFO to step down

28-Nov-2023 By Gary Lloyd

All-day café-bar-restaurant operator Loungers said it is on track to create 1,000 jobs through the opening of 34 UK sites by the end of 2023.

Hospitality Ulster: Gov a ‘disgrace’ as business rates relief not granted in NI

27-Nov-2023 By Gary Lloyd

Hospitality Ulster members have demanded an explanation of why the sector has not been afforded business rates relief in the Autumn Statement in line with England, Scotland and Wales.

OPINION

Customers must help it make the season of goodwill

27-Nov-2023 By Stosie Madi, chef-patron of the Parkers Arms

December is our trade’s busiest time of the year. It’s when hospitality gets to play a starring role in people’s social calendar.

Drinks sales flat ahead of Xmas period

24-Nov-2023 By Rebecca Weller

Drinks sales were 0.5% up compared to 2022 levels in the week to Saturday 18 November, remaining virtually flat ahead of the crucial run-in to Christmas for operators and suppliers.

Sector 'deserved better' in Autumn Statement

24-Nov-2023 By Rebecca Weller

In the wake of the Autumn Statement, The Morning Advertiser spoke to operators from across the sector to get on the ground thoughts on the announcement.

Exclusive

East London Pub Co goes into administration

24-Nov-2023 By Ed Bedington

The East London Pub Company has gone into administration, although the businesses four sites are continuing to trade.

UKH calls for VAT cut to boost tourism

23-Nov-2023 By Rebecca Weller

UKHospitality (UKH) has called for the Government to address the UK’s lack of competitiveness on the global tourism market, beginning with a cut to VAT for hospitality, tourism and leisure businesses.

Range 'most important' to new generation cider drinkers

23-Nov-2023 By Rebecca Weller

Three quarters of cider drinkers feel range is most important when choosing a hospitality venue to visit, especially during the winter months, according to the latest Heineken UK cider report.

Most pubs charge more than £30 for Xmas dinner

23-Nov-2023 By Rebecca Weller

Almost a third of pubs will charge in excess of £30 for Christmas dinner, a snap poll conducted by The Morning Advertiser has revealed.

Train strikes hit trade at Nightcap, revenue up 42.7% in FY23

23-Nov-2023 By Gary Lloyd

Current trade at Nightcap has been hit by rail strikes and warm weather but revenue in its financial year to July has risen by 42.7%.

Autumn Statement

What's the opposite of exceeding expectations?

22-Nov-2023 By Ed Bedington

Expectations ahead of the Autumn Statement were already pretty low in the pub sector and I think it’s fair to say they have been duly met.

POLL

VOTE NOW: do you sell gift cards at your pub?

22-Nov-2023 By Rebecca Weller

Hospitality gift cards could help “boost sales” during the quiet post-Christmas period, do you sell them at your pub? Have your say now in our snap poll.

Mixed reaction to Autumn Statement from sector bosses

22-Nov-2023 By Gary Lloyd

Sector chiefs have issued a mixed response to Jeremy Hunt’s Autumn Statement with many welcoming parts of it while others see “missed opportunities”.

AUTUMN STATEMENT 2023

NLW increase will ‘eliminate low pay altogether’, NI contributions down 2%

22-Nov-2023 By Gary Lloyd

UK Government Chancellor Jeremy Hunt said the rise in national living wage from £10.42 to £11.44 from April next year will “eliminate low pay altogether”.

AUTUMN STATEMENT 2023

Business rates discount extended

22-Nov-2023 By Rebecca Weller

On Wednesday 22 November, Chancellor Jeremy Hunt announced an extension to the 75% discount for business rates up to £100k for the sector as part of the Autumn Statement.

AUTUMN STATEMENT 2023

Hunt confirms alcohol duty freeze

22-Nov-2023 By Rebecca Weller

Speaking in Parliament on Wednesday 22 November Chancellor Jeremy Hunt announced a freeze to alcohol duty until August next year.

What is expected in the Autumn Statement?

22-Nov-2023 By Rebecca Weller

Chancellor Jeremy Hunt will reportedly announce cuts to business taxes and a National Insurance reduction in today's Autumn Statement.

NLW rise could put many operators ‘over the edge’

22-Nov-2023 By Gary Lloyd

Sector bosses fear the Government announcement on a rise in the national living wage (NLW) could put many hospitality businesses “over the edge”.

Confidence rises but business rates must be addressed

22-Nov-2023 By Gary Lloyd

Almost half of hospitality chiefs said they are confident about the sector during the upcoming 12 months despite a multitude of cost pressures, including business rates.

Organiser of Kerridge’s Pub in the Park festivals collapses

21-Nov-2023 By Gary Lloyd

The events organiser behind celebrity chef Tom Kerridge’s Pub in the Park food and music festivals has collapsed, leaving HMRC £1.1m out of pocket.

Inn Collection completes multi-million-pound refurb

21-Nov-2023 By Rebecca Weller

This week's property round-up features refurbishments and investments from Inn Collection, Admiral Taverns, Roxy Leisure and Joseph Holt.

Some 20% of firms at risk of closure in early 2024

20-Nov-2023 By Rebecca Weller

More than a fifth of night-time economy firms face collapsing in January 2024 without “substantial tax reductions”, the Night-Time Industries Association (NTIA) has warned.

Popular Xmas party dates ‘will help push sales up to £12bn’

20-Nov-2023 By Gary Lloyd

Hospitality is set to benefit from a £12bn boost during the festive period when 40m-plus people eat and drink out as the most popular dates for Christmas parties have been revealed.

Number of pub and bar insolvencies jumps 66% YOY

20-Nov-2023 By Rebecca Weller

The number of pub and bar company insolvencies soared by two thirds in the year to September as high inflation and interest rates make turning a profit “impossible”.

THE CASK PROJECT

Rocking Rudolph returns, cancer charity to benefit again

20-Nov-2023 By Gary Lloyd

Greene King is hoping to boost charity coffers again this year with the release of festive favourite cask ale Rocking Rudolph.

Xmas 'make or break' for sector as drinks sales dip

17-Nov-2023 By Rebecca Weller

Christmas period “make or break” for hospitality firms as drinks sales “disrupted” by stormy weather.

Star invests more than £50m into pub estate

17-Nov-2023 By Rebecca Weller

Star Pubs & Bars has injected more than £51m into its pub estate since September last year.

REVIEW OF THE WEEK

Business rates support ‘is the big one’

17-Nov-2023 By Ed Bedington

The Morning Advertiser editor Ed Bedington spoke to Oak Taverns managing director Simon Collinson to get his thoughts on the week's news and the upcoming Autumn Statement on Wednesday 22 November.

Duty increase will 'damage growth and prosperity'

16-Nov-2023 By Rebecca Weller

Voices from across the brewery sector have joined calls urging the Chancellor to scrap the duty increase in February next year in next week’s Autumn Statement.

Price of a pint of lager jumps 12.5% YOY

16-Nov-2023 By Rebecca Weller

The average cost of a pint of draught lager increased 12.5% in the year to October 2023 as pubs and brewers “struggle to survive”.

‘Tale of two halves’ as Young’s reports ‘strong’ results

16-Nov-2023 By Gary Lloyd

London-based pub operator Young’s has reported a 12% lift to its adjusted profit before tax and labelled the 26-week period of its financial year as a “tale of two halves”.

Young’s bid to acquire City Pub Group, valued at £162m

16-Nov-2023 By Shwetali Sapte

The boards of Young’s and City Pub Group have reached agreement on the terms of a recommended cash and share acquisition to which Young’s will acquire City Pub Group.

POLL

How much should pubs charge for Xmas dinner?

15-Nov-2023 By Rebecca Weller

How much should pub operators charge customers for Christmas dinner? Have your say in our snap poll.

Emeny hails ‘excellent financial results’ at Fuller’s

15-Nov-2023 By Gary Lloyd

Pub operator Fuller’s has delivered “excellent financial results” with like-for-like (lfl) sales up 12.7% in the first half of its financial year (H1 2024) compared to the same period last year.

Inflation reduction 'no time to break out champagne'

15-Nov-2023 By Rebecca Weller

Decline in headline rate to inflation “encouraging” but “no time to break out the champagne” for hospitality firms, industry leaders have said.