Quantaco’s oversight across a vast range of the Australian hospitality industry‘s financial performance makes it uniquely positioned to provide industry analysis and commentary.
Quantaco has released its latest Industry Insights Report, covering January to March 2023. The report highlights a positive trend throughout the quarter, showing significant growth in sales, beverage, and gaming turnover compared to the previous year.
However, the trends become less clear when looking at the individual months. Food sales started the quarter strong but slowed down in March, while beverage sales had a slow start to the year but picked up significantly in March. Gaming turnover also had an erratic trend with a slower start to the quarter but ended on a high note. However, gaming turnover and net profit are not aligned, with a higher payout ratio this quarter leading to less revenue flowing into total sales.
Commenting on the wage percentage data is Quantaco’s Executive Director Mitch Stone: “We’re seeing wage costs reduce, but as with the rest of the report, the devil is in the detail with wage percentage for food rising 4%, which is the sharpest increase we have seen all year.”
The report underscores the industry’s ongoing high degree of uncertainty, underscoring the need for operators to have access to comprehensive information to make informed decisions. In this context, Quantaco, with its extensive data set, innovative technology-driven solutions, and seasoned professionals, stands ready to assist operators in navigating these uncertain times, instilling a sense of confidence and reassurance.
Click here to see the detailed report.