Today’s news in brief – 18/10/23

Just Eat has increased its full-year guidance following a return to sales growth in Q3. Gross transaction value in Northern Europe and UK&I grew by 6% and 4%, respectively. However, North America saw a slower trajectory with an 18% decrease in GTV.In response to the overall GTV growth, Just Eat raised its FY23 adjusted EBITDA guidance to approximately €310m (£269m), up from the previous €275m (£238m). The company is also exploring the sale of Grubhub.

The number of consumers failing to show up for their reservations has doubled since September last year, with 12% not honouring their bookings without prior notice. This trend has a significant financial impact on the industry, resulting in £17.59bn in lost revenue annually. Restaurants are the hardest hit, accounting for 27% of all cancellations. The #ShowUpForHospitality campaign, initiated in September 2021, initially reduced no-shows from 14% to 6% by September 2022, but the latest data indicates a resurgence in this behaviour.

HOSPA has announced its line-up ahead of its annual HOSPACE conference in November. The conference will address the impact of the past year and offer insights into 2024, with discussions led by professionals from HotStats, BDO, Amadeus, and more. Topics include AI’s future in hospitality, technology’s impact on the industry, and the power of trust within hospitality. The event will culminate in a Gala Dinner where the winners of the Inspirational Leader Awards will be announced.

Market Place is expanding its Vauxhall site with the addition of three new food traders – Inamo Sukoshi, The Duck Shed and Choy House. These traders join others already operating at Market Place Vauxhall, showcasing a variety of culinary delights.