Christmas Crowd Bites Bigger Slice of the TGI Fridays Pie
In a season that’s all about steaming plates and humming carols, TGI Fridays did something a bit surprising: their holiday bookings jumped past all the usual expectations. The chain’s owners, Hostmore, said they did it all by being super aware of the cost‑of‑living drama families are facing right now.
Who’s Back on the Menu?
Executive chair Julie McEwan reminded the PA that the Winter 2023 slump left a lot of budgets feeling less than merry. “We were mindful that the cost‑of‑living crisis hit families hard, so we took a detour back to the old school: think classic values, familiar vibes and the real reason people love TGI Fridays.”
Deposit De‑flection
- Where competitors would charge a cozy £10 per head for a big group (12 people is the cat’s whiskers), Hostmore almost zero‑ed that fee.
- They cut the deposit amount, which meant families could actually afford to book. The result? More folks planning a festive feast and the revenue .
FYI‑S: a Tony‑Mellow Blessing on Numbers
- Last year’s earnings are projected around £5.4 million in EBITDA.
- Bank debt shrank from £31.3 million to £25.1 million by July 2.
- The re‑sprint into 2024 is all about “tight‑budget and fierce cost cuts” so the numbers keep blowing up.
What’s the Secret Sauce?
McEwan gushed about the “highly motivated teams” inside the brand, their experiences and “the best of both worlds” – old‑fashioned heritage and a new‑gen customer focus. “We’re letting brand equity take the wheel and stepping straight into a future where more foot traffic is the norm,” she said.
Bottom line: By listening closely to the budgeters and rolling back the deposit bar, Hostmore’s TGI Fridays spell out a holiday that’s both chefs‑approved and pocket‑friendly. The rest of the season? Expect plates to be fuller, wallets to feel lighter and a few more joyous “Cheers!” at every table. Cheers to that!
