Total sales growth reached 3.7%. Britain’s top hospitality groups experienced a year-on-year sales growth of 1.7% in September, rebounding from the below-inflation growth of 1.5% in July and 1.3% in August, according to the CGA RSM Hospitality Business Tracker.
“September’s results reflect a consistent pattern of modest growth for the sector, influenced by consumer confidence and spending concerns due to the government’s discussions of ‘tough’ decisions in this month’s Autumn Budget,” commented Saxon Moseley, head of leisure and hospitality at RSM UK.
In September, total sales growth, which includes new venues that opened in the past year, was 3.7%. The report further indicated that like-for-like sales rose to 3.2% in September, significantly outpacing the 1.5% growth for managed pubs.
Conversely, bars saw a decline of 3.8%, while the on-the-go segment posted a 4.3% increase. Trading in London was somewhat softer compared to the rest of the country, with sales within the M25 showing a 1.3% increase for September 2023, whereas venues outside saw a 1.9% rise.
“Despite some encouraging economic signals pointing to a potentially stronger final quarter of 2024, the sector is still facing considerable challenges. The upcoming budget presents an opportunity to provide the industry with the targeted support it needs,” stated Karl Chessell, director of hospitality operators and food, EMEA at CGA by NIQ.
