My bank manager doesn’t agree but apparently as a nation thrift is in and the credit crunch has finally hit home.
Or has is?
There’s been a real mix of views coming out from operators in the last few weeks about whether we’re all reining in our spending and what if so it means for hospitality.
True Sports Café has had to go cap in hand to the bank after a bad Christmas but was hardly a business in rude health.
Frankie & Benny’s owner The Restaurant Group said like-for-like sales In the final quarter climbed just 1% but rival Tragus, which runs Café Rouge, delivered growth over Christmas of 4.5%.
The British Beer & Pub Association has said boozers across the land face bleak times as beer sales continue to slide (Caterer’s journalists can only do so much to help it seems), but Travelodge and Malmaison owner MWB are optimistic about 2008. As are Yo! Sushi and Domino’s Pizza.
Swings and roundabouts? Or are some companies latching onto a convenient excuse to cover up their own failings?
Please let me know your thoughts on the state of play in the market.
