2024 Hospitality Market Monitor Report

This report provides an overview of the hospitality market in 2024, detailing the stability in the number of licensed premises in Britain. Despite facing numerous challenges, the total number of venues remained nearly unchanged compared to the previous year, with 99,120 licensed premises reported in December 2024. The document outlines the fluctuations in site numbers, noting a total of 4,078 closures and 4,085 openings, indicating a high turnover rate. It highlights the contrasting performances of food-led and drink-led venues, with food-led establishments experiencing a decline while drink-led venues showed slight growth. The report also discusses the impact of economic factors on consumer spending and trading conditions, emphasizing the vulnerability of many hospitality venues. Additionally, it presents data on the performance of various segments, including bars, restaurants, and pubs, and notes the resilience of independent operators amidst ongoing market challenges.