Every 3 months, we aggregate and anonymise our hospitality clients' revenue stats for the year to date and produce our Cohort report.
Our Q3 data, up to the end of September 2023, encompasses 51 businesses with a combined nine-month revenue of £30,424,231.
These are some of the highlights:
July was the strongest of the summer months.
August dropped considerably.
Anecdotally, this was due to Londoners taking summer holidays in the first year many felt truly free of Covid restrictions.
September had a strong bounce back.
It was not far behind July's peak in terms of revenue and covers and exceeds it by a touch in spend per head.
Spend per head since March was between £40 and £41.
It never returned to January's £44 average.
It's clear that the opportunity to increase turnover still lies with increasing covers.
Q3 2023 vs Q3 2022 shows turnover is much increased this year and spend per head is up by 12%.
Unfortunately, this doesn't necessarily mean greater profitability due to inflation and increased labour costs.
Food sales have gone up by 10% more than drink sales.
Each of our clients gets a personalised comparison of how their hospitality business is performing against their peers.
If you’re interested in learning how your restaurant or bar compares, please get in touch.
