Group sales fend off May's wet weather
Pub and restaurant groups achieved year-on-year sales growth of 3.6% in May.
Britain’s pub and restaurant groups achieved year-on-year sales growth of 3.6% in May 2024, despite disappointing weather in many parts of the country.
The latest CGA RSM Hospitality Business Tracker shows year-on-year growth was highest in the pub sector at 4.4%, while restaurants achieved 3.8%.
Bars saw a 2.7% drop, though this is a substantial improvement on April’s figure.
The tracker has shown a quick return to growth overall after a 1.7% drop in trading in April, which followed six consecutive months of positive numbers.
May’s figure is also comfortably above the current rate of inflation, as measured by the Consumer Prices Index. CGA says an easing of some household bills, along with two Bank Holiday weekends, provided a welcome boost to consumer spending during the month.
Capital culture
For the fifth time in six months, hospitality groups performed better in London than elsewhere in Britain. May sales were 4.1% ahead of last year inside the M25, while increasing by 3.5% beyond it.
"May brought a relief to return to above-inflation growth in hospitality after a blip of negative numbers in April," says Karl Chessell, a director at CGA by NIQ. "Wet and cool weather continues to work against pub operators, but they and restaurants may be starting to feel the benefit of a relaxation of spending among some consumers, especially over occasions like Bank Holiday weekends.
"Bars and on-the-go sites are meanwhile still some way short of where they could be. The General Election and greater economic certainty may help to unlock further spending, but operators will be hoping above all for much brighter summer weather to tempt people out of home."
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