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Good news for Hospitality! 50% cut to energy prices.

In welcomed news for the hospitality sector yesterday, it was announced energy bills for UK businesses will be cut by around 50% of their expected level this winter. This will fix wholesale #gas and #electricity prices for six months from 1 October in a huge government support package. Welcome relief from predicted soaring prices.

Kate Nicholls, chief executive of UKHospitality, said the industry was "relieved" by the support ahead of the busy Christmas trading period, adding it would secure jobs.

Isn’t it great to have a break from the doom and gloom? Especially for a sector as resilient as #Hospitality. So, on that theme here’s more good news…

1. Thinking outside the box can drive local business.

In the last downturn in 2008, The Tom Kerridge Group filled his first establishment by offering a ‘too good to be true’ menu. And it worked a treat. In a smart move this month the two course £15 lunch menu has relaunched to fill restaurants with ‘noise, excitement and laughter’. Great for staff, and guests it’s a brilliant example of on your feet tactical thinking which can be activated at local level if you empower teams with the right tools to promote the offer and the pricing.

2. Re-considering existing opportunities can significantly grow revenue.

It’s been known for some time that hotels tend to do a better job on room sales than with F&B, but with the right approach this valuable channel can provide significant income. Pre-pandemic it was already outperforming overall growth in the sector. And what’s more hotel guests tend to spend more. A lot can be learnt from the approach to local marketing of managed, branded, or franchised pubs and restaurants.
 
3. What we do in bad times often matters more than what we do in good times.

Carefully considered growth when others aren’t growing can pay dividends. Last month’s trading update from D&D London, which operates more than 40 restaurants worldwide, was upbeat while sensibly noting an “uncertain economic backdrop”. Their increasing overheads have been cleverly offset by increased customers spend. In an inspired move the group intends to expand "substantially" over the next few years.

Succeeding in bad times requires extraordinary skills. Those skills exist within the hospitality sector as demonstrated by its tenacity and resilience during the pandemic. By pulling together with their local partners, brands can succeed and indeed thrive. They’ve done it before and will do it again.


A recording of the webcast 'Successful Brand implementation and activation in the Food & Beverage sector' is available to watch here. Alternatively you can listen to it as a podcast on Spotify and Apple Music. If you are in Food & Beverage or Hospitality it will be 30 mins well spent.

Spotify
https://lnkd.in/ei6tFzCX

Apple Music
https://lnkd.in/e3QfdJtb

Or if you'd like to read more about Local Marketing have a look at our blog page "Local Thinking': https://www.weareacuity.com/local-thinking-our-blog

Or get in touch with us today to learn about growing your local business. You can book a FREE 30 minute chat here.

#foodandbeverage #advertisingandmarketing #restaurant #hotel #restaurantreport #hospitalityrecovery #hospitalityindustry #menusizing #chainrestaurants

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