Latest / Hospitality News Briefing / Wednesday 7 October: Moyagi rescues Lucky Voice brand and central London sites in pre-pack deal
Transcript
- Good morning. This is the Hospitality News Briefing, from Ops Club. Episode fourteen, Wednesday the seventh of October. Here is what the UK trade press reported this morning, collated for operators. The Swedish karaoke firm Moyagi has acquired the Lucky Voice brand and three of its central London sites in a pre pack deal, while Gordon Ramsay Restaurants shifts its focus toward licensing and franchising. Starting with the numbers, The Caterer reports that Dishoom saw its turnover hit double digits, but rising overheads have hit the bottom line. It is a familiar story for premium casual brands right now, packing out dining rooms while fighting a losing battle against inflation. The report suggests that for operators like Dishoom, managing the middle of the profit and loss account is now clearly more difficult than getting customers through the door. Two briefs from Langton Capital show a different side of the market. The Ivy Collection parent company, Troia U K Restaurants, saw its ee bit dah rise to sixty five point nine million pounds. Turnover reached three hundred and forty eight million pounds with pre tax profits hitting forty million pounds for the period ending January twenty twenty six. Meanwhile, K F C U K revenues rose to two hundred and ninety one point seven million pounds on the strength of its company owned stores. That was a four point one per cent rise in the fifty two weeks to December twenty twenty five, although pre tax profits dipped slightly to ninety five point seven million pounds. In acquisitions, Propel Hospitality Info reports that Moyagi has bought the Lucky Voice brand and three sites in a pre pack deal. Looking at the broader market data, Christie and Company figures shared by Restaurant Online show that hospitality deal activity jumped twenty two per cent as buyer demand holds. Between January and August, more than three hundred and sixty properties were brought to market. While average completion values for freeholds rose by over one hundred thousand pounds, many operators are now pivoting away from food toward simpler, wet led community models. It suggests that while the market is liquid, the appetite is moving toward operations with lower complexity and higher margins. On the same site, new data shows restaurant no show rates have dropped by six per cent. Eighty three per cent of customers now realise how much no shows damage a business, with the average cost of a missed table for two estimated at fifty five pounds and seventy pence. While London and Birmingham remain high risk zones, Lincoln and Aberdeen have the lowest rates. The research suggests that a simple card hold of thirty five pounds is now largely accepted by diners as a fair way for you to protect your revenue. Two more from Langton Capital. Sterling has been mixed as ten year gilt yields hit five point four zero per cent. That is a three point rise in what it costs the government to borrow for a decade, which is a key figure for commercial lenders when they price hospitality debt. Also, U K services sector growth cooled to a three month low in September. The latest S and P Global P M I reading fell to fifty two point zero, indicating a loss of momentum across the service economy. In other news, Restaurant Online reports that U K Hospitality is demanding a planning overhaul. The trade body has released a report calling for thirty three reforms, including automatic planning approvals and a review of nutrient neutrality to ease the burden on operators. And finally, The Caterer reports that James Martin Manchester has closed with immediate effect. The restaurant inside the Great Northern Warehouse has shut its doors after eleven years of trading. Three things to think about before you get on with the day. Lucky Voice had to enter administration to survive - how many of your current leases are genuinely zombie sites that are holding the rest of your estate back? With Dishoom seeing profits slide despite double digit growth, have you looked at where your food and labor costs have drifted in just the last three months? Diners are now apparently willing to pay a thirty five pound deposit to secure a table - are you still leaving money on the table by letting no shows walk away for free? The full rundown is at ops dash club dot com, where every story links back to the publication that reported it. Today's pulled from The Caterer, Langton Capital, Propel Hospitality Info and Restaurant Online - a signpost to their reporting, not a replacement for it. Scripted and read by AI and published without a human check, so check the original before you act on anything. For longer conversations with the people running the sector, find the Hospitality Ops Club podcast. That is your briefing. Have a great day.