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Hospitality groups report 1.7% growth in September
Total sales growth was at 3.7%.
Britain’s leading hospitality groups recorded a year-on-year (YoY) sales growth of 1.7% in September, following the recent below-inflation growth of 1.5% in July and 1.3% in August, according to the CGA RSM Hospitality Business Tracker.
“September’s results continue the recent trend of steady but unremarkable growth for the sector, with consumer confidence and spending spooked by the government’s talk of 'tough' decisions to come in this month’s Autumn Budget,” said Saxon Moseley, head of leisure and hospitality at RSM UK.
Total sales growth in September, including new venues opened during the last 12 months, was at 3.7%.
The report also revealed that like-for-like sales increased to 3.2% in September, which was double the rate of 1.5% for managed pubs.
Meanwhile, bars dropped at 3.8%, whilst the on-the-go segment achieved 4.3% growth.
Trading in London was slightly softer than the rest of the country, with sales inside the M25 being 1.3% ahead of September 2023, while venues further achieved 1.9% growth.
“While some positive economic indicators raise confidence for a brighter final quarter of 2024, continues to battle substantial headwinds, and the forthcoming budget is an opportunity to give the sector the targeted support it deserves,” said Karl Chessell, director of hospitality operators and food, EMEA at CGA by NIQ.
