Britain's hospitality leaders show caution despite some positive signs in consumer spending, revenue, and average spend. Confidence has slightly dropped due to ongoing cost challenges.
Nearly two-thirds of leaders report higher revenue in the first quarter of 2024 compared to 2023, with a notable increase in average spend per visit. However, footfall growth is limited, and consumers are cutting back on drinks ordered.
Wage costs remain a key pressure point for businesses, having significantly increased over the past year. However, increased pay has helped reduce vacancies. While some costs are easing, overall pricing remains high.
Collection
[
|
...
]