Hospitality venues’ sales rise 8.8% over December

Restaurants, pubs and bars saw sales rise by 8.8% over the latest Christmas period compared with data from 2022, according to the latest CGA RSM Hospitality Business Tracker.

According to CGA and RSM, the industry saw a sharp increase from 4% in November to more than 8% in December, and more than double the current rate of inflation in the UK. 

The tracker also revealed that like-for-like sales grew 9.6% for pubs in December, while restaurants enjoyed an 8.3% upswing. Meanwhile, bars bounced back from a long run of negative figures with growth of 5.6%.

While year-on-year growth has been positive, UKH has said these results were the “bare minimum” needed by venues as cost pressures mount. The industry body also maintained that improved sales performance is unlikely to be enough to cover increased operating costs.

Kate Nicholls, CEO of UKH, said: “A positive Christmas was essential for hospitality businesses, who desperately needed strong trading figures after four years of disruption during the festive period.

“As we’re now heading through the quieter winter months, these results will help many to keep going but I would urge the public to support their local venues. If we don’t use these valuable community assets, we will lose them for good.”

She added: “There is a critical role for the government to play in supporting the sector this year, as closures continue to mount. We are urging them to act by capping the planned business rates hike in April and reducing the rate of VAT for hospitality, leisure and tourism.”