The Resilience of the Hospitality Sector
As highlighted in new research, despite the recent rise in inflation.
The resilience of the hospitality sector is highlighted in new research despite the recent rise in inflation outlined by the Office of National Statistics (ONS).
Alcohol prices in restaurants and pubs drove up costs for households which saw another inflation increase, this time by 0.3% from the January figure, now putting it to 10.4%.
The ONS highlighted that the cost of food and non-alcoholic beverages in particular had risen by about 18% in a year, which is the highest it has been since August 1977.
Despite the ongoing challenges which the sector faces, new research from Northern Restaurant & Bar and CGA by NielsenIQ shows cities in the north of England are leading the UK hospitality market.
The data highlights the resilience of the hospitality sector in northern cities, with their restaurant and bar sales growth, which have been ahead of the GB average of 4.1% since 2019.
While there has been a net decline of 15.8% in Britain’s restaurants and bars since 2019, the drop has been less than half of that in northern cities, with Liverpool affected the least: -2.4%, Newcastle: -5.8% and Chester: -5.8%.
Chris Brazier, Group Event Director of Northern Restaurant & Bar, said: “The findings reflected the strength, resilience but also the ambition of restaurants, pubs, bars, cafes and coffee shops in Northern cities.
“Hospitality operators in cities like Liverpool, Manchester, Sheffield, and Newcastle have suffered just like the whole hospitality sector, with huge issues around the cost of utility prices, food inflation, and staffing issues.
“While challenges remain, it’s encouraging to see operators being innovative and looking to the future.
“It offers a much-needed burst of positivity to see so many new concepts, sites and launches, and to see discerning but happy consumers flooding through the doors.”
The work that all hospitality is doing across the UK is incredibly admirable in such unprecedented times.