Friday Five: the week's top news
- Hospitality business have been left frustrated after the Chancellor failed to offer the sector any significant concessions in his spring Budget. Jeremy Hunt delivered what he billed as his ‘Budget for growth’ earlier this week, during which he announced an extension of the Energy Price Guarantee for households; laid out substantial changes to childcare; and introduced a major set of reforms to support people back into work. However, in a blow for hospitality, the Chancellor fell short of addressing some of the main challenges directly facing operators across the sector, with no additional support offered to tackle rising energy bills, business rates and inflation. The only help targeted at hospitality was an extension of draught relief from 5% to 9.2%.
- Chef Tommy Banks is to launch a pub with rooms in north Yorkshire later this spring. While details of the new venture remain under wraps, it has been confirmed that the pub will be located close to the Banks Group's Michelin-starred flagship restaurant The Black Swan at Oldstead. The 'historic' site is currently undergoing a remodelling and upon completion will feature a 'state-of-the-art kitchen, relaxed dining room and cosy bar area'. Described as a 'food-focused pub', the menu will exhibit the hyper-local, sustainably-focused ethos for which the Tommy Banks Group is known, with produce sourced from the family’s farm in Oldstead taking centre stage. In addition, the pub will include a number of rooms, with guests able to book a two-night package that will allow them to dine at both the new pub and The Black Swan.
- Californian burger brand Carl’s Jr. has instructed property agent Christie & Co to support its launch into the UK market by seeking out ‘several’ franchise partners to facilitate a national rollout. In 2021, BigHospitality revealed that the 1,000 plus strong brand was looking to enter the UK market for first time following its success in mainland Europe. Carl’s Jr. initially looked to find a master franchisee, but it is now looking to partner with multiple ‘ambitious’ hospitality entrepreneurs/investment groups who can open at least 20 restaurants in their respective region, in the next few years, ideally with extensive restaurant experience and the financial capability. The QSR brand is looking for franchise partners with the capability to invest in high traffic locations in and around major towns and cities in the UK. Carl’s Jr. is focused primarily in developing standalone restaurants from 150 sqm and up, however it has a range of flexible formats to suit high street and shopping centre locations.
- Cambridge chef Mark Poynton has launched a tasting menu-only restaurant at Norfolk’s Caistor Hall by Brasted's. Mark Poynton at Caistor Hall will be open from Wednesday to Saturday for lunch and dinner offering five (£75) or nine courses (£100) at lunch and the nine courses at dinner. The 35-cover restaurant was originally set to launch in February but there has been a minor delay due to the kitchen not quite being ready.
- The combined rail and tube strikes taking place across the country this month could cost hospitality 'as much as £600m'. UKHospitality analysis shows that hospitality could lose as much as £530m as a result of rail strikes, which began yesterday (16 March) and will also take place on both 18 and 30 March, and 1 April, with knock-on disruption on 17 and 31 March. Meanwhile, venues in London could have lost as much as £69m as a result of the tube strike on Wednesday this week (15 March), according to the trade body.
For more of this week's headlines, including further reaction from the Budget, check below or click here.
