By M&C Report team2005-06-12T08:20:00+01:00
Inflation has soared to its highest level in nine years, with the Office for National Statistics (ONS) claiming this is down to last year’s Eat Out to Help Out scheme.
Hospitality could be experiencing a slowing in the recovery of consumer activity, weekly data compiled by the ONS has suggested.
The reopening of indoor dining helped underpin UK GDP growth during Q2 2021. Analysis from UKHospitality shows the hospitality sector was responsible for 40% of total economic growth from Q1 to Q2 2021, with Kate Nicholls calling on the Government for business rate reform and a permanently lowered rate of VAT.
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Mitchells & Butlers has reported like-for-like sales were 97% of pre-Covid levels, in the 18 weeks since 17 May, with the most recent eight weeks up to 104%.
The Clive Watson-led group has added the Grade II listed Cliftonville Hotel in Cromer, Norfolk, to its portolio, for £1.7m.
Chief Executive Simon Emeny said life was “gradually returning to normal”, with a return of customers to its central London pubs.
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