Novus Leisure festive sales benefit from advanced bookings

By Emma Eversham

- Last updated on GMT

Related tags: Snow, London

Tiger Tiger delivered the strongest growth for the company
Tiger Tiger delivered the strongest growth for the company
Tiger Tiger owner Novus Leisure saw like-for-like Christmas sales rise 10.6 per cent for the six weeks to 1st January with 75 per cent of revenue coming from advanced bookings for corporate and private parties

The bar operator, which opened its sixth bar, Grace, in London last October, said revenue stemming from its two main websites – latenightlondon.co.uk and Tiger Tiger.co.uk – and its sales team was up 41 per cent showing that sales and marketing, rather than deep discounting had helped fuel sales.

Chief executive Steve Richards said: “The period growth figures are in line with what we’ve been experiencing since the summer, but we are particularly pleased by the resilience of trading for the three weeks of Christmas and New Year where like for like sales were up 15.5 per cent despite the heavy snow falls which severely affected London and the South East.”

“Many regional competitors have chosen to deeply discount at peak times which is not something we wish to compete with. We believe having a relevant product and overt sales systems are the way to take share and maintain margin”.

For the second year running, Tiger Tiger delivered the strongest growth for the company. Like-for-like growth was up 11.3 per cent for the period, with food accounting for 40 per cent of revenue.

Novus Leisure operates 25 bars on sites in London’s West End and in the city, including Digress and Sway. The company also opened Kanaola last November in a joint venture with the owners of celebrity nightclub Mahiki.

Related topics: Business

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