Sites at March
2022
Sites at Dec 2022
Sites at March
2023
March 2023 v Dec
2022
% change in sites,
March 2023 v Dec
2022
% change in sites,
March 2023 v
March 2022
All Venues
Total 105,912 101,315 100,176 -1,139 -1.1% -5.4%
Managed 20,633 20,751 20,658 -93 -0.4% +0.1%
Independent 67,553 63,809 62,846 -963 -1.5% -7.0%
Leased 17,726 16,755 16,672 -83 -0.5% -5.9%
Food-led
Venues
Total 38,596 36,866 36,461 -405 -1.1% -5.5%
Managed 10,718 10,698 10,612 -86 -0.8% -1.0%
Independent 23,106 21,620 21,314 -306 -1.4% -7.8%
Leased 4,772 4,548 4,535 -13 -0.3% -5.0%
Drink-led
Venues
Total 57,554 55,339 54,604 -735 -1.3% -5.1%
Managed 6,860 7,008 6,993 -15 -0.2% +1.9%
Independent 38,060 36,419 35,771 -648 -1.8% -6.0%
Leased 12,634 11,912 11,840 -72 -0.6% -6.3%
Accommodation
-led Venues
Total 9,762 9,110 9,111 +1 0.0% -6.7%
Managed 3,055 3,045 3,053 +8 +0.3% -0.1%
Independent 6,387 5,770 5,761 -9 -0.2% -9.8%
Leased 320 295 297 +2 +0.7% -7.2%
Sources and definitions
Data in this report is sourced from CGA by NIQ's Outlet Index,
the leading database of licensed premises in Britain.
'Independent' means that the venue is owned and
operated independently-the individual owner has full
decision-making responsibility for the venue's operation
and profitability.
'Managed' outlets are managed sites of operators with more
than one location, typically a collection of venues or portfolio
of brands. They typically employ a manager to carry out the
day-to-day running of the venue, according to the company's
specifications and objectives.
'Leased' outlets are run by individual tenants who pay a
tenancy fee or rent to a corporate landlord, typically a
pub company.
'Licensed' outlets are permitted to serve wine, beer and other
alcoholic beverages.
Market summary: Total sites across three key segments: food-led, drink-led
and accommodation-led
Comment from
It is clearly a very challenging market for hospitality and leisure businesses right now. But what we can clearly see from
this latest edition of the Hospitality Market Monitor is that large parts of the market continue to demonstrate remarkable
resilience and robustness.
The pain of a high-inflation has served to squeeze profitability, suppress investment and, in the worst scenarios, challenge
viability, continues to be felt most acutely by independents. This is where the pain of a market yielding a 5% closure rate in
the latest 12 months, is most pronounced. There are signs appearing though that this pressure may be starting to ease and
the latest inflation figures begin to offer hope of this.
That the number of licensed premises will drop below 100,000 in the next few weeks, highlights the impact the last few years
has had on the sector, and the amount of capacity lost, and still being lost. The closure rate is pushing 15,000 since March
2020.
However, it also creates more opportunity for those that can navigate their way through; especially those who have best
adapted to the current market and that have growth on their agenda. We are all waiting for this margin-compression cycle
to turn. When that comes the market will, from an investment and lending perspective, right itself quickly. When it does,
investors will return, with businesses that have delivered stability and are demonstrating growth, top of target lists
Graeme Smith, managing director, AlixPartners, leads the corporate finance team - gsmith@alixpartners.com
Contact: CGA by NIQ's director - hospitality operators and food, Karl Chessell: karl.chessell@cgastrategy.com