Leading hospitality groups achieved modest year-on-year sales growth of 1.3% in August, the latest CGA RSM Hospitality Business Tracker reveals.
Groups have now achieved like-for-like increases in every month of 2024, except April. However, it is a second successive month of below-inflation growth, and the Tracker has topped 4% only once since the start of the year. Total sales growth in August, including new venues opened during the last 12 months, stood at 3.7%.
The Tracker — produced by CGA by NIQ in partnership with RSM UK — shows managed pubs outperformed the licensed sector as a whole in August, with year-on-year growth of 2.9%, despite disappointing weather.
Restaurants recorded a 0.8% increase, but bars continued a long run of negative numbers with a drop of 9.0%.
“August’s figures complete a modest summer for hospitality groups, and with the weather and consumers’ confidence both underwhelming, real-terms growth has been elusive,” said Karl Chessell, director, hospitality operators and food, EMEA at CGA by NIQ.
“While some bars and restaurants have found it hard to sustain footfall, the picture has been brighter at pubs, especially given the impact of the cool temperatures on beer gardens and terraces.
“Consumers remain eager to eat and drink out when they can, but operators will be hoping they will feel confident enough to spend more freely as we move towards the crucial final quarter of 2024.”
