Latest / Hospitality News Briefing / Wednesday 21 October: James Watt plots bar return while UKHospitality warns of Budget job losses
Transcript
- Good morning. This is the Hospitality News Briefing, from Ops Club. Episode twenty four, Wednesday the twenty first of October. Here is what the UK trade press reported this morning, collated for operators. James Watt is plotting a return to the bar scene while UKHospitality warns that failing to provide tax relief in the Budget could lead to significant job losses. Starting with the latest trading numbers, Scoffs Group has narrowed its losses as turnover climbed to fifty six point four million pounds. Propel reports that the UK's largest Costa Coffee franchisee saw revenue rise three point two per cent in the year to December twenty twenty five. This happened despite what the board called subdued consumer confidence. Pre-tax losses were trimmed to one point seven eight million pounds, and the group's now focusing on a two-year efficiency plan. It shows that even the biggest players are having to cut costs aggressively to protect their margins right now. Also in the numbers, Langton Capital reports that Black Sheep Coffee has hit ee bit dah profitability for the first time in its latest accounts. The Ritz Paris saw a nineteen point six per cent jump in annual profits with turnover at one hundred and fifty five million euros, though Langton Capital notes it still carries a heavy accumulated loss. Over at Beavertown, Propel reports that turnover slipped below one hundred million pounds as pub volumes dipped by twelve per cent. However, that was offset by a thirty five per cent surge in supermarket sales. Finally, Hospitality and Catering News says Foxhills Resort saw a fifteen per cent jump in summer events revenue, with food and beverage income up by more than twenty five per cent. On to who is buying what, a Dutch family office has become a major shareholder in Marston's. Propel reports that Clap Capital, founded by the creators of a crypto exchange, now holds a five point three five per cent stake. This follows a forecast from Marston's that annual profits will beat expectations and reach at least seventy eight point four million pounds. It suggests institutional confidence is returning to the big pub groups as they pivot back toward shareholder returns. Elsewhere in investment, Escapade Group has refinanced with new H S B C facilities after buying an adventure park in Lancashire, according to Propel. Also, The Caterer reports that Houston and Hawkes won the catering contract for Vodafone Three, serving seven thousand customers a day across five sites. Looking at new openings, BrewDog co-founder James Watt has announced a new venture called Second Best. Propel reports he's searching for sites for a five-strong bar circuit to launch in early twenty twenty seven. He's offering ten thousand pounds in cash to anyone who finds a site he eventually opens, bypassing traditional agents. At the same time, he's attempting a thirty million pound buy-back of BrewDog assets recently sold to Tilray. In other opening news, Big Table Group is converting its final high street Cafe Rouge into its Amalfi concept at St Katharine Docks next week. Restaurant Online reports that Theo's Pizzeria will open a third London site in Peckham on the sixth of November. The same publication says Alux Hospitality is planning a British brasserie called Beatrix for Chelsea in early twenty twenty seven. Hospitality and Catering News reports that the Turkish family who invented the vertical doner have opened their first international site in Knightsbridge. Propel reports that Spanish brand GoodNews has opened its first UK coffee site in Cheapside, and Cosmo Group has taken a massive unit at Lakeside for its new Firebird barbecue brand. In Scotland, Buzzworks has spent seven figures relaunching a hotel in North Berwick as The Bass and Barrel, as reported by Hospitality and Catering News. A few moves to note. The Caterer reports that Laura Mills has been named managing director of The Wolseley Hospitality Group. Propel reports that Harts Group has appointed Steve Robinson, formerly of Turtle Bay, as C F O, while Henry Dimbleby has stepped down as a non-executive director of Rockfish. Hospitality and Catering News reports that Karen Cmela is the new food and beverage director at Olympia Events, and Ignacio Grimaldi has been named head of bars at The London EDITION. Turning to the bigger picture and market data, UK unemployment has fallen to four point seven per cent. Langton Capital reports that while the jobless rate dipped in the quarter to September, vacancies have fallen below seven hundred thousand for the first time in over five years. It suggests the labour market is cooling, which might make recruitment easier, but consumer spending is under pressure. S and P also notes that consumer confidence is at its lowest point since July twenty twenty three. Propel reports that casinos are being credited with sustaining twenty four seven city economies, and the bubble tea brand T4 saw a thirteen per cent jump in network sales last quarter. Finally, the wider industry news is dominated by a warning from UKHospitality. The Morning Advertiser reports that chief executive Allen Simpson says the sector's eighty two per cent effective tax rate is unsustainable. The trade body is demanding a V A T cut to ten per cent and business rates reform. Without relief in the Budget, they warn the industry could lose another one hundred thousand jobs. In other news, City A M reports the Chancellor has reportedly ruled out a capital gains tax hike. Propel reports that a group of young leaders is urging the government to protect entry-level roles as rising National Insurance costs threaten youth employment. And there's good news for Bread Ahead, who Propel reports have secured their future at Borough Market with a new lease agreement. Three things to think about before you get on with the day. With consumer confidence at a two-year low and vacancies falling, are you over-staffed for a Christmas period that might be softer than your current projections? If the Chancellor holds firm on National Insurance hikes next week, do you have a clear plan to offset those costs without further increasing menu prices? Scoffs Group found recurring savings by reviewing their operating model - when did you last strip your back-of-house processes down to see what's actually essential? 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 Propel, Langton Capital, Hospitality and Catering News, The Caterer, Restaurant Online, The Morning Advertiser and City AM - 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.