Confidence is rising slightly among hospitality owners, new data suggest, despite inflation slowing at a ‘glacial’ pace and economic pressures in the offing, which could potentially leave the sector with a ‘billion-pound bill’.
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Midway through 2023, Harpers is taking stock of yet another turbulent year for the drinks trade, with plenty of highs and lows, so far. We continue our series with Bella Babbit, wine director, NoMad London, to find out how the year as gone so far, and what the remainder may bring.
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The rate of overall UK inflation experienced a sharp fall to 6.8% in July – the same month which marked the fourth consecutive reduction in vacancies for hospitality. However, the sector is still facing numerous challenges.
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Economic depression tends to lead consumers to splash out on little luxuries. This is the idea behind the ‘lipstick effect’, coined by Estée Lauder’s Leonard Lauder to describe the rocketing rise of lipsticks in 2008, post the 9/11 attacks in New York and while global markets teetered on the brink of financial meltdown. By extension – and with the cost of living and wage stagnation pushing prices higher – alcohol still seems to fall within a comparatively ‘affordable luxury’ bracket.
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Since its launch just over a year ago, the Cardiff Wine Passport has generated more than £32,000 in revenue for independent restaurants and bars in Cardiff.
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It doesn’t seem to matter what flavour of government you have at the moment – when it comes to the spirits and hospitality industries, there’s a stench of incompetence. In Scotland we have the incredibly public failure of the DRS scheme, which, as a result, has wasted millions of pounds of taxpayers’ money. But don’t be fooled – it really is no better, south of the border. Westminster will raise you a cock up, in the form of the increased duty rates.
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Pub closures reached back-to-back quarterly records in Q2 2023, smashing the previous unwanted benchmark set in Q1.
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According to research from UHY Hacker Young, the UK’s Top 100 restaurant groups have recorded a twelvefold increase in their profits in the last six months, rising from £19.9m in September 2022 to £241.8m in March 2023.
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Results from the annual survey conducted by The Drinks Trust revealed that almost all (96%) of the drinks industry want to undertake professional development initiatives to help them in their career in the next 12 months.
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62% of hospitality businesses believe the sector receives less support and attention than other industries, new research from Peckwater Brands (PWB) has found.
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A scorching June helped Britain's managed restaurant, pub and bar groups achieve a ninth successive month of year-on-year sales growth, according to the latest Coffer CGA Business Tracker.
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The percentage of the UK’s largest restaurant companies turning a profit has doubled in the last year, according to new figures. However, further interest rate rises now hover over the horizon. As a result, hospitality’s biggest operators could be facing new challenges on their return journey to profitability.
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With a summer of sport in full swing and the women's World Cup just around the corner, new research by CGA has revealed the increased spend and dwell times pubs can enjoy when screening live sports.
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New data has highlighted the effect of rising cost of borrowing on spending in the hospitality sector, as consumers’ real income falls.
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Central London’s hospitality sector is recovering after suffering hundreds of closures of licensed premises during the turmoil of Covid-19.
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In part 2 of our series, Jo Gilbert goes back to basics with on-trade suppliers to tease out the nuances of the burning question: what makes a good wine list?
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Britain’s leading managed restaurant, pub and bar groups achieved an eighth consecutive month of year-on-year sales growth in May 2023, the latest Coffer CGA Business Tracker shows.
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St Pancras Renaissance Hotel, Euston Rd, London, NW1 2AR
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In the final instalment of our online series, one last time, Harpers is going back to basics with a member of the UK hospitality industry to find out exactly what is the secret sauce that makes a modern wine list successful.
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