Britain’s top hospitality groups achieved year-on-year growth of 1.5% in July 2024, down from June’s rate of 2.9%, the latest CGA RSM Hospitality Business Tracker reveals.
As July started with the peak of the 2024 Euros, including the quarter- and semi-final, and final games, Britain’s pubs enjoyed a more positive outcome from the tournament than the England team, experiencing like-for-like growth of 4.9%.
The best performing segment in July, and the heart of England’s Euros support — pubs within the M25 — performed especially well, with 9.9% like-for-like growth.
It was a slightly more negative picture for other segments as consumers shifted their spend towards pubs.
“With most positive growth being seen in the pub sector in July, this had a knock-on effect to other hospitality venues as they saw like-for-like drops in performance,” said Karl Chessell, director, hospitality operators and food, EMEA, at CGA by NIQ.
“For hospitality as a whole, this isn’t necessarily a negative thing. The uplifts seen based on key events within the month show that whilst the cost of living pressures are still ongoing, consumers are still making those all-important visits to hospitality venues.
“As we move into the back end of summer, with warmer weather, and an upcoming bank holiday at the end of the month, we hope to see growth spread more equally across key segments.”
