While a cut in interest rates eased the repayment pain for many, the downturn is finally beginning to bite within the hotel industry with London revenue per available room falling 10%.
And so came a series of grim announcements. Luxury operator Mandarin Oriental revealed it had been affected by the global economic downturn, InterContinental’s profits fell 28% and consultancy PWC claimed the sector now faced the worse set of trading conditions for fifteen years.
Despite all this, hoteliers were told not to slash their rates despite the squeeze. As Lance-Corporal Jones would have said: “Don’t panic!”
The Restaurant Group showed it wasn’t impervious to the slowdown after all and said it would be cutting back on new openings.
The pub sector, which has had a terrible year of it already, got worse news, with a report from Horizons suggesting drink sales will have declined by £1b by the end of this year with a similar decline predicted for 2009.
At its annual conference the chairman of Business in Sport and Leisure reminded the Government that excessive pub regulation was not helping either.
Coffee shops became more popular as hang outs for a quick gossip than pubs – Fact! And bottled water firm Belu revealed its clean water project donations.
Caterer caught up with education caterer Cucina and Andrew McKenzie, the managing director of The Vineyard at Stockcross, was crowned as Caterer and Hotelkeeper’s Hotelier of the Year for 2008.
Michelin-starred chef Martin Wishart is to head up the restaurant at De Vere’s Cameron House and Gordon Ramsay is to take Maze to Australia. Strewth, mate.
UK tourism is worth a staggering £114b and chefs from outside the EU were given the green light to work in the UK under the new points based immigration system.
Monday (17 November) sees the Caterersearch.com Web Awards taking place at the Imagination Gallery in London but do remember to tone it down. It’s not black tie after all, business suits will suffice. I’ll see those of you attending there.
Editor's Pick
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Channel 4 brings back the Food Fight >>
Glynn Purnell throws the towel in? >>
Quote of the Week
“It’s a great industry: The cooking, the training, the working with great people – I’ve enjoyed the lot.”
John Williams, executive chef at the Ritz, wins the Outstanding Achievement Award at the Hotel Cateys
By Chris Druce