All Pubs articles – Page 6
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Analysis & Insight93% of licensed venues trading in July
According to CGA’s and AlixPartners Market Recovery Monitor, approximately 5,000 licensed premises reopened in July, meaning 93% of Britain’s pubs, bars, restaurants and other venues are now trading. There are variations by location and type of premise, with groups and food-led sites rebounding strongly. Independents, drinking venues and nightclubs are less likely to be trading. In all, over 98% of food-led premises have reopened. City centre sites are more likely to be trading once more compared to suburban and rural sites.
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NewsThe Inn Collection buys York’s Dean Court Hotel
The Inn Collection Group has secured historic York property The Dean Court Hotel as it continues to expand its pubs with rooms estate across the north of England. The 40-bedroom site will begin trading immediately under The Inn Collection Group’s flagship ‘Eat, Drink, Sleep and Explore’ trading brand. The undisclosed deal takes The Inn Collection Group’s total site count to 25 and is its fifth Yorkshire venue.
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NewsRent collection improves during Q2
According to data from Remit Consulting, the collection of rent from commercial property tenants has continued to improve. Remit’s data suggests the ‘leisure sector’ has seen a marked improvement in rent payments during Q2. A quarter of tenants were said to have paid on time and within 21 days of payment due date, 49.5% of rents had been collected. In the March quarter, the equivalent figure stood at 38.4%.
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NewsHospitality sector drives 40% of Q2 GDP growth
The reopening of indoor dining helped underpin UK GDP growth during Q2 2021. Analysis from UKHospitality shows the hospitality sector was responsible for 40% of total economic growth from Q1 to Q2 2021, with Kate Nicholls calling on the Government for business rate reform and a permanently lowered rate of VAT.
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Analysis & InsightThe growing appeal of IPOs
After a Covid-induced hiatus, there have been several IPO announcements this year, with companies such as TGI Fridays, Tortilla, Hawksmoor and Giggling Squid considering their options around going public. Meanwhile several more are believed to be weighing up a listing. How much of this is an opportunistic post-Covid trend? Does it represent a structural shift away from the private equity model? And what are the risks and rewards? Dominic Allport, insight editor, reports.
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Analysis & InsightAverage spend up as pubs and bars grow share
Latest data from Lumina Intelligence’s Eating & Drinking Out Panel indicates a shift in channel share during the four weeks to 11 July 2021 driven by the Euros. As consumers gathered to watch the football, pubs and bars have continued to gain channel share, accounting for 15.0% of total eating out occasions across the four weeks – up 2ppts versus the previous period. Restaurants have also continued to grow share, up 0.6ppts to 12.7%.
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NewsGrowing brands highlight key market trends
Lumina’s latest ODI (Operator Data Index) analysis includes full year 2021 outlet growth forecasts for both emerging and established brands within important market segments. It also discusses some of the key market trends that are currently helping brands expand. Trends include creating atmosphere, focusing on online and diversification of offer.
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Analysis & InsightJapanese cuisine closes gap on Italian dominance in restaurants
Data from Lumina Intelligence’s Menu Tracker is helping to shed a light on trends in starter and main cuisines within chain pubs and restaurants. In restaurants, Italian cuisine continues to dominate while the incidence of pan-Asian dishes grow. British cuisine dominates pub & bar menus and leads year-on-year growth.
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Analysis & InsightMajority of consumers have returned to hospitality since July 19
CGA research indicates that 56% of consumers have returned to restaurants, pubs and bars since 19 July, although a continued focus on social distancing measures in venues is keeping sales below pre-Covid levels. In total, around three quarters (73%) of consumers have returned to the out-of-home market since venues could reopen in April.
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InterviewsRalph Findlay ‘optimistic’ about the pub sector recovery
MCA caught up with Ralph Findlay, chief executive of Marston’s, following the group’s Q3 trading update. He discussed the group’s increasing focus on premium pubs and the benefits of a technology upgrade. While describing the pingdemic as a “severe headache” and voicing concerns around VAT and price rises, he was nonetheless optimistic about the pub sector’s potential for recovery.
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NewsMarston’s trading update is welcomed by analysts
Marston’s Q3 trading update has been welcomed by analysts, with Shore Capital describing it as an “encouraging update”, while Singer described it as “highly pleasing.” With limited impact from either cost inflation and pingdemic related labour issues analysts either maintained or upgraded to a buy recommendation.
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NewsMitchells & Butlers experiences ‘volatile’ sales
Mitchells & Butlers is seeing ”signs of improvement” in trading following the easing of restrictions from July 19. Sales have been “volatile” since May 17, experiencing strong sales during the first five weeks, followed by slower than average trading, with city-centre sites most impacted.
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NewsQ2 hospitality spending ‘significantly higher than their pre-Covid levels’
The reopening of hospitality has led to a sharp increase in spending in Q2 2021 according to Deloitte’s Q2 Consumer Tracker. Spending in restaurants and bars has seen its biggest quarterly rise and was now ”significantly higher than their pre-COVID levels”.
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NewsHospitality’s self-isolation omission risks further closures
There is a risk of further venue closures and reduced service as a result of the government’s decision to omit hospitality from its self-isolation exemption list, according to UKHospitality.
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NewsAdmiral Taverns to acquire Hawthorn in £222m deal
Admiral Taverns has reached an agreement to acquire community pub company Hawthorn from parent company NewRiver, for a cash consideration of approximately £222.3m.
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Analysis & InsightDelivery and takeaway sales nearly triple pre-Covid levels
Data from CGA indicates deliveries and takeaways draw more than a third of managed groups’ sales, with June income up 225% compared to June 2019. Volumes of delivery now exceed that of combined takeaways and click and collect orders.
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News‘Cautious optimism’ in pub and restaurant markets
Christie & Co’s Mid-Year Review has reported cautious optimism in pub and restaurant property markets, with demand outstripping supply. Rural, coastal and tourist-led locations are attracting most attention. Within restaurants, the franchise model continues to show strength.
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NewsBrewDog’s online sales growth fails to offset bar closures
BrewDog has reported a pre-tax loss of £13.1m during 2020 despite achieving 10% revenue growth during 2020. The strong growth in online sales was not enough to offset the impact of bar closures.
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NewsFever-Tree boosted by the reopening of hospitality
Fever-Tree has released a half year trading update for the six months to 30 June 2021 with revenue up and ”clear signs of pent-up demand” as hospitality reopens.
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NewsYoung’s trading ‘ahead of expectations’
Young & Co, has released a trading statement covering 13 weeks to July 12 stating trade is close to 2019 levels. Chairman Stephen Goodyear remains optimistic about the current financial year and that balance sheet strength leaves Young’s, ”well-placed to make further investments and generate good returns for the long term”.