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Mon 11th Nov 2019 - Sector like-for-likes down 0.6% in October, Airbnb guest spend at UK restaurants to hit £1.4bn
Sector like-for-likes down 0.6% in October as rugby fails to ignite sales: Britain’s managed pub and restaurant groups saw like-for-like sales dip 0.6% in October, with the Rugby World Cup providing little if any extra boost for bar sales, the latest Coffer Peach Business Tracker has revealed. Restaurant chains saw collective like-for-likes fall 0.7%, with managed pub and bar groups down 0.6%. Regionally, businesses outside London did better than those in the capital, down 0.5% compared with a 0.9% fall inside the M25. “Drink-led pubs did marginally better, with a 0.3% like-for-like increase over the month but there was no big boost coming from customers wanting to watch the rugby on television in the bar – probably due to the early-morning kick-offs,” said Karl Chessell, director of CGA, the business insight consultancy that produces the Tracker in partnership with Coffer Group and RSM. “October is usually a quiet month in the eating and drinking out world – the lull before the Christmas rush – and so it has proved. Essentially, we are continuing to see a flat market. People are still going out but there’s no real growth.” Coffer Corporate Leisure managing director Mark Sheehan added: “It is worth noting that although it looks like London is underperforming the strength of the London market is being driven by independents not captured by the stats, rather than branded concepts. The eating and drinking-out market is relatively stable despite dampened consumer confidence. This is reflecting the combined political and economic uncertainty not seen since the middle of the last century.” Total sales across the 58 companies in the tracker, which include the effect of net new openings since this time last year, were ahead 2.3% compared with last October. Underlying like-for-like growth for the Tracker cohort, which represents large and small operators, was running at 1.7% for the 12 months to the end of October, which is just below the 1.8% registered at the end of September.

Airbnb guest spending at UK restaurants and cafes to rise 33% year-on-year to £1.4bn in 2019: Guests on Airbnb are forecast to spend £1.4bn in UK restaurants and cafes in 2019, according to figures by the company itself, an increase of 33% from 2018. London topped the list of almost 70 UK cities for the highest guest spend, with visitors projected to spend £573m in the city in 2019, up from £449m in 2018. Estimated spending in Edinburgh, meanwhile, is expected to rise to £95m from £75m in 2018. According to the data, guests spent almost one-third (31%) of their trip budget on food when visiting the UK and almost half (45%) in the neighbourhood in which they stay. According to the survey, 91% of UK hosts said they recommend local restaurants and cafes to guests. If spending levels remain the same, Airbnb guests are expected to spend more than £24bn at restaurants and cafes in 46 countries in 2019, up from £19bn the year before. 

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