August sees 1.3% growth for hospitality groups
CGA reveals that the leading hospitality groups achieved a year-on-year sales growth of 1.3% in August 2024
According to CGA RSM Hospitality Business Tracker, hospitality groups have now achieved like-for-like increases in every month of 2024 except April.
August is the 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 results
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, while the on the go segment achieved 5.0% growth.
Sales rose by 1.2% inside the M25 in August, while venues further afield fractionally outperformed with 1.4% growth. It is only the second time this year that the capital has recorded weaker figures than the rest of the country.
Karl Chessell, director of hospitality operators and food, EMEA at CGA by NIQ, said: “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.
"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.”
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