Topics information from Caterer and Hotelkeeper

Failure to reduce slash tourism VAT a 'missed opportunity'

Failure to reduce tourism VAT in yesterday’s Budget announcement is a missed opportunity for the UK economy, an industry pressure group has said.

Newcastle’s Grey Street hotel goes on market after falling into administration

The 49-bedroom Grey Street hotel in Newcastle upon Tyne has been put up for sale after falling into administration, due to the tough economic climate. Offers in the region of £3.75m are being sought by Colliers International for the freehold boutique business, including rental income from bar and...

Parts of pub sector starting to exit recession, PWC says

Parts of the pub sector may be starting to come out of the recession, as insolvencies among pub and restaurant businesses fell in the second quarter of last year, compared to 2011. That was one of the findings from accountancy firm Pricewaterhouse Coopers (PWC) which warned that hospitality...

Peel Hotels reports toughest trading in company history

Regional group Peel Hotels has reported the toughest year in the company’s history, with sales and profits down alongside rapidly rising energy costs. For the financial year ending 5 February 2012, the company – which has nine hotels across the UK – has reported a dramatic 54% fall in profit before interest to £598,396.

Ensure your business is in shape to beat dip

It's true. Britain has fallen foul of the dreaded double dip recession. But there's an old adage that suggests it is exactly this sort of challenging economic climate that sorts the wheat from the chaff. Operators need to think creatively and strategically, not just to keep heads above water but to ride the crest of the wave...

Target your discounts to mine customer data and win loyalty

Consumers expect discounts, according to an Allegra food strategy forum debate, but it can work in an operator's favour. Kerstin Kühn reports

Tragus in talks over bank debts

Restaurant company Tragus, which owns the Cafe Rouge and Strada brands, is said to be set to meet its banks this week to avert a breach of its banking covenants. The group, owned by private equity firm Blackstone, has admitted it is likely to fail a covenant test....

Pub and restaurant groups stay positive despite January sales dip

The big pub and restaurant groups saw a 2.1% drop in like-for-like sales in the traditionally tough month of January. But Peter Martin of Peach Factory said the figures from the monthly Coffer Peach Business Tracker were unlikely to disappoint the market too much...

Visits increase despite falling spending as Zolfo Cooper points to 'austerity fatigue'

Customers driving sales growth among UK restaurants, pubs, bars and clubs could be suffering from "austerity fatigue". That's the conclusion of new research by advisory firm Zolfo Cooper, whose biannual Leisure Wallet survey...

Restaurant insolvencies jumped in 2011

Restaurant insolvencies jumped by nearly a third in the last quarter of 2011, with nearly 200 companies going bust, research has found. The number of restaurants going out of business during the last three months of 2001 went up by 31% to 194, compared with 148 the year before.

credit crunch