Growing South-American restaurant group, Fazenda, have revealed record Christmas trade in 2023, following a strong first three quarters of the current financial year (31% YOY growth), despite a challenging climate across the hospitality industry with persistent high inflation.
A record £4M turnover was reported across all six sites during the 5-week festive period, a 51% increase YOY. The group’s latest opening in Bishopsgate has had a significant impact on the success, recording the strongest week in the festive period of all Fazenda restaurants, and is currently 45% ahead of budget since opening in August 2023.
Fazenda also reports a strong NPS score of 78 across the group (against an average NPS of 63 across the industry), according to figures from Feed It Back.
Speaking about upcoming expansion plans off the back of Fazenda’s strong financial performance, Co-Founder and Managing Director Tomas Maunier said:
‘Following the incredible performance of Fazenda Bishopsgate, we’re excited to reveal we’re actively looking for a second restaurant in London, with long term plans to open a third site in the capital, as well as expansion into the EU within the next two years. We’re also planning on taking all regional Fazendas to the next level and elevating the menu and overall experience across the group, to match that of Bishopsgate based on the success of our first opening in the capital.’