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Latest UK Inflation Takes a Breath: Falling to 2.3%, Prices Ease Amidst Food Cost Declines

UK Inflation Takes a Breath: Falling to 2.3%, Prices Ease Amidst Food Cost Declines

Wednesday, May 22, 2024

The Office for National Statistics (ONS) reported a significant decline in the UK's inflation rate, dropping from 3.2% in March to 2.3% in April.
This is the lowest level since July 2021, when the rate reached the Bank of England's target of 2%.
The decrease signals a slowing down of price increases, bringing relief to consumers and businesses alike after a period of steep cost-of-living crisis.
Analysts believe this trend could pave the way for interest rate cuts, good news for mortgage holders in the UK hospitality sector.

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  • 2023: A Record-Breaking Year for Hospitality Sector in the UK

    2023: A Record-Breaking Year for Hospitality Sector in the UK

    Tuesday, May 21, 2024

    The UK hospitality sector, including food markets, cafés, pubs, restaurants, and hotels, experienced a remarkable turnaround last year.

    According to recent reports, there was an impressive surge in both domestic and international visitors, resulting in significant growth.

    "These figures mark a turning point for tourism in Scotland, showing not only recovery, but crucially growth in international visitors, with number of visits and spend now above 2019 levels."

    Malcolm Roughead

  • Scottish Chef Adam Handling Opens Second Pub in Cornwall: The Tartan Fox

    Scottish Chef Adam Handling Opens Second Pub in Cornwall: The Tartan Fox

    Friday, May 17, 2024

    Scotland-born chef, Adam Handling, is expanding his horizons beyond the bustling streets of London with the opening of his second pub in Cornwall.

    Named "The Tartan Fox", this new establishment is set to join the ranks of Handling's successful ventures in the UK hospitality sector.

    The 400-year-old grade II listed building, previously known as Carvynick House, will house The Tartan Fox and promises a unique dining experience for visitors.

  • UK Hospitality and Food Markets: Adapting to a Changing Landscape

    UK Hospitality and Food Markets: Adapting to a Changing Landscape

    Friday, May 17, 2024

    The UK hospitality sector, encompassing food markets, cafés, pubs, restaurants, and hotels, is a significant contributor to the country's economy.

    However, in recent times, it has been facing numerous challenges, from rising costs to changing consumer preferences.

    In this article, we will discuss how various components of the UK hospitality sector are adapting to these shifts.

    Let us begin with food markets, a vibrant and ever-evolving part of the industry.

  • Hospitality Sector: Confidence and Challenges Amidst Revenue Growth

    Hospitality Sector: Confidence and Challenges Amidst Revenue Growth

    Wednesday, May 15, 2024

    The UK hospitality sector faces a delicate balance as leaders express cautious optimism amidst revenue growth, according to the latest CGA by NIQ Business Confidence Survey.

    Despite an increase in positive sentiment, only 34% of leaders feel confident about the hospitality market's prospects over the next year – a decrease from 41% in February.

    The confidence level for individual businesses also saw a decline, dropping from 57% to 53%.

    This marks the second consecutive quarter-on-quarter drop following four straight quarters of growth.

  • 62 Shuttered UK Pubs to be Revived by Heineken with £39m Investment

    62 Shuttered UK Pubs to be Revived by Heineken with £39m Investment

    Wednesday, May 8, 2024

    Heineken, a global brewing giant, plans to rejuvenate 62 closed pubs in the UK and invest £39m in refurbishing over 94 of its existing establishments.

    By the end of this year, the company aims to have restored 156 pubs that were previously shuttered since the beginning of 2023.

    With the increasing number of pub closures and consumers' cost-of-living pressures, Heineken is focused on transforming outdated pubs into premium local hangouts.

    Already, two pubs – The Cherry Tree in Witham and The Crown & Anchor in Aveley – have reopened following refurbishments totaling £180,000 and £244,000 respectively.

    Some of the pubs set for major investments include The Hesketh Tavern in Cheadle Hulme, The Manvers Arms in Radcliffe on Trent, and The Punch Bowl in West Hallam.

  • UK's Deposit Return Scheme to Launch in October 2027: A Boost for Recycling and Hospitality Sector

    UK's Deposit Return Scheme to Launch in October 2027: A Boost for Recycling and Hospitality Sector

    Monday, April 29, 2024

    The long-awaited UK Deposit Return Scheme (DRS) is set to launch in October 2027, with a focus on promoting the recycling of plastic drink bottles, steel and aluminium cans.

    2025 implementation postponed to 2027 for UK-wide alignment on drink container deposit scheme.

    "I'm pleased that all governments across the UK have listened to the concerns of UKHospitality and will be pursuing schemes that ensure maximum alignment and interoperability across the UK."

    Kate Nicholls, Chief Executive of UKHospitality

  • Meldrum House Hotel Transitions to Apex Hotels, Preserving Wedding Plans and Rich History

    Meldrum House Hotel Transitions to Apex Hotels, Preserving Wedding Plans and Rich History

    Wednesday, April 24, 2024

    Meldrum House, a hotel and golf course with a staff of 150, was purchased by Edinburgh-based Apex Hotels from its previous owners: Bob Edwards, David Buchan, and Terry Buchan.

    Apex Hotels, a UK chain with over 1,000 employees and 10 properties, plans to expand by acquiring Meldrum House for its fine dining and luxury accommodations.

    Jordan Charles, managing director of Meldrum House, will stay on to lead his team while supported by Apex Hotels' resources and expertise.

  • 5.2% Sales Growth for Hospitality Groups in March

    5.2% Sales Growth for Hospitality Groups in March

    Monday, April 22, 2024

    According to the most recent CGA RSM Hospitality Business Tracker report, sales for Britain's leading hospitality groups increased by 5.2% in March 2024, signifying a noteworthy upturn following a slow beginning to the year.

    This growth can be attributed to several factors, including the impact of early Easter celebrations and holidays falling into March this year, as opposed to April in 2023.

    The managed pub sector was particularly successful during this period, with like-for-like sales increasing by a robust 7.2%.

    However, growth for restaurants remained softer at 3.4%, and the on-the-go segment faced a decline of 5.2%.

  • EU Proposes Youth Mobility Agreement with UK to Boost Cultural Exchange

    EU Proposes Youth Mobility Agreement with UK to Boost Cultural Exchange

    Friday, April 19, 2024

    The European Commission has proposed a significant step towards fostering cultural exchange between the EU and the UK by opening negotiations on a youth mobility agreement.

    This agreement, if approved, would allow young people from both sides to move freely for work, study, or travel opportunities within each other's territories.

    The proposal comes as part of an effort to mitigate the effects of Brexit on youth mobility and to strengthen ties between European and British young generations.

    The EU Commission sees this agreement as a means to restore some of the pre-Brexit freedoms that have been lost, while ensuring compliance with necessary conditions.

  • 100 Princes Street: Red Carnation Hotels' New Scottish Gem Unveiled

    100 Princes Street: Red Carnation Hotels' New Scottish Gem Unveiled

    Wednesday, April 17, 2024

    At Edinburgh's 100 Princes Street lies Red Carnation Hotels' inaugural Scottish property, boasting both historical charm and contemporary elegance.

    this charming getaway, influenced by Scottish adventurers, delivers an exclusive and genuine taste of Scotland.

    With its 30 luxurious ensuite rooms and suites, The Wallace offers a refined accommodation experience for discerning travelers and culture lovers in Edinburgh. (The Wallace = this establishment)

    A hand-painted mural stretching along the five-story staircase tells the story of Scottish explorers and their botanical discoveries.