Hospitality starts 2023 with fourth consecutive month of growth

Monday, February 27, 2023

The UK hospitality industry had an annual turnover surged 10.9% in January 2023, its fourth month in a row, according to data from the CGA.

Manufactured by NielsenIQ's CGA in conjunction with theCoffer Group and RSM UK, the Tracker has experienced year-on-year growth of 14.7 per cent in four consecutive months.

This level of 10.9% is above the current inflation rate of 10.1%, according to the CGA's consumer price index.

"These figures show consumers remain eager to eat and drink out despite the mounting pressure on disposable incomes," - Karl Chessell

However, retail benefited in January from earlier in 2022 when some consumers remained at home due to concern over the Omicron variant of Covid.

High inflation means that sales fall further behind pre-pandemic levels in real terms.

Pubs have carried the momentum they established over Christmas through 2023, with similar sales up 12.9% ahead of January 2022.

In bars, sales fell by 3.1%.

The CsuitCGA Business Tracker points to a strong month in London in which office workers and visitors continued to return to the capital.

 

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