Storms bite into Savor Group performance

Viaduct's Bivacco tracked at $240,000 a week in receipts. (Image: Savor)

Thu, 25 May 2023

Auckland hospitality operator Savor Group says the city’s nasty weather in January and February cost it between $2 million and $3m in bookings and revenue for the 12 months to the end of March 2023. The listed firm operates 20 upmarket venues in Auckland’s Britomart, Wynyard Quarter, Parnell and Ponsonby hospitality precincts. It said without that, it would likely have beaten the top end of its $6m earnings before interest, tax, depreciation and amortisation (Ebitda) guidance. As it was, the listed group posted Ebitda...

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