Today’s news in brief – 16/10/24

Hospitality business rates will likely hit £914m, UKH has warned, as September’s CPI inflation data will cause an additional £48m increase to business rates. As a result of this, the trade body is calling on the chancellor to introduce a lower, permanent and universal multiplier for hospitality.

Just Eat orders have fallen across all markets in Q3, yet has reaffirmed an unchanged full year guidance. However, the food delivery company reported that its Gross Transaction Value (GTV) fell by 3% to €6.3bn (£5.2bn) in the quarter, down from €6.5bn (£5.4bn) in Q3 2023. In the UK&I, GTV rose by 6% to €1.7bn (£1.4bn) during the period. 

Starbucks has acquired franchise group 23.5 Degrees in the UK, which will bring on board the largest Starbucks-licensed business partner in the market. The deal encompasses approximately 113 stores and 1,650 employees. With this addition, Starbucks will “significantly” expand its wholly owned footprint.

Heron and Brearley has appointed a new chairman. Mark Crowther, the former chief executive of the Liberation Group, has assumed the role of the Isle of Man-based hospitality group, bringing over 30 years of experience in F&B. He replaces Christopher Smith, who is retiring.