Revenue per room improves at InterContinental Hotels The owner of Holiday Inn and Crowne Plaza has reported that revenue per room, a key metric, increased by 2.6% year-on-year in the first quarter. Sales were driven by strong trading in Europe, Africa and Asia. Read more.

Parent company of TGI Fridays reports dip in revenue Hostmore's revenue fell to £190.7m for the year ending 31 December, compared with £195.7m the previous year. However, the company has said that its "strategic business measures are yielding promising results." Read more.

Quarterly net revenues down at Starbucks The US coffee chain has said that net revenues fell by 2% to $8.6bn in the first three months of 2023, as customers cut back on discretionary items like takeaway coffee. Read more.

Yum! Brands completes acquisition of 218 KFC franchise restaurants from EG Group The quick-service restaurant group Yum! has finalised the purchase of more than 200 KFC restaurants from EG Group. Total revenue at KFC UK has dipped 1% in the most recent quarter. Read more.

City Pub Group clocks record revenue in the year it was acquired by Young’s The inner-city pub group has said that it generated record revenue in 2023, bringing in sales of £74.4m, compared to £57.7m in 2022. Group like-for-like revenue increased by 20% compared to the prior period. Read more.

Nightcap explores deal for Revolution Bars Group The operator of the Revolution, Revolución de Cuba and Peach Pubs brands is in talks with Nightcap about a potential sale of parts of its business. According to reports, a number of private equity firms are also expressing interest in the group. Read more.