Britain’s Leading Hospitality Groups See Strong November Sales Boost
In a promising turn of events for London’s restaurant and pub scene, Britain’s leading hospitality groups have reported a significant year-on-year sales growth of 2.7% in November 2024. This exciting news comes from the latest edition of the CGA RSM Hospitality Business Tracker, shedding light on a positive trend that has the industry buzzing.
### Solid Recovery Amidst Challenges
The like-for-like sales figure of 2.7% is not only a cause for celebration but also a sign of hope for the future. It is worth noting that this growth rate slightly surpasses Britain’s rate of inflation as measured by the Consumer Price Index, marking the first real-terms growth since June. This data provides a glimmer of optimism that consumers are willing to open their wallets and increase their spending in restaurants, pubs, and bars, especially as we head into the festive Christmas and New Year period.
### Key Findings from the Tracker
The CGA RSM Hospitality Business Tracker, produced in partnership with RSM UK, reveals some interesting insights into the performance of various hospitality segments. Managed restaurants have emerged as the top performers, boasting a like-for-like growth rate of 3.6%. Pub groups also saw a commendable 3.1% increase, thanks in part to the boost from Halloween celebrations at the beginning of November.
However, not all segments experienced the same level of success. Bars continued to struggle, with sales declining by 5.3% compared to the same period last year. On-the-go venues, on the other hand, saw a modest growth of 2.8%.
### London Leading the Way
A particularly noteworthy highlight from the Tracker is the revelation that trading in London has outpaced the rest of the country for the first time since July. Managed groups in London saw a 3.0% year-on-year sales increase, while venues outside the M25 achieved a growth rate of 2.5%. This shift in momentum bodes well for the capital’s vibrant hospitality scene.
### Industry Experts Weigh In
Karl Chessell, director of hospitality operators and food, EMEA at CGA by NIQ, expressed optimism about the industry’s trajectory. He acknowledged the challenges posed by the government’s recent Budget but emphasized the importance of sustained growth in the face of rising costs and margins.
Saxon Moseley, head of leisure and hospitality at RSM UK, echoed these sentiments, highlighting the need for continued revenue growth to navigate the sector’s evolving landscape. As operators gear up for the busy festive season, all eyes are on achieving strong sales to close out the year on a high note.
With these encouraging figures and expert insights, the future looks bright for London’s restaurant and pub groups. As the industry navigates ongoing challenges, the resilience and adaptability displayed in November’s sales boost are a testament to the unwavering spirit of hospitality professionals.
