One third of UK's hospitality sector risks business failure


One third of UK’s hospitality sector risks business failure

Saturday, 01 Nov, 2022 0

Trade association UKHospitality says over one-third of businesses are expecting to be operating at a loss or be unviable by the end of the year.

A new survey by UKHospitality, the British Beer and Pub Association, the British Institute of Innkeeping and Hospitality Ulster also found 93% facing food price inflation.

More than three-quarters of operators (77%) see a decrease in people eating and drinking out and 85% expect this to worsen .

As a result, 89% are either not confident or pessimistic that the current levels of support offered by government will protect the industry in the next six months.

In a joint statement, the trade associations said: “The results clearly lay out the stark situation facing hospitality businesses, with many on the brink.”

“The vulnerability of the sector due to soaring energy costs, crippling rises in the cost of goods and dampening consumer confidence.“

“If urgent action isn’t taken, it is looking incredibly likely that we will lose a significant chunk of Britain’s hospitality sector in the coming weeks and months.”

“Prior to the energy crisis, the sector was showing signs of having bounced back strongly.”

“If the Government wants to be turbo-charging sectors of the economy, our dynamic hospitality industry is primed to grow. But it needs to survive this generational crisis first.”

.”We would all encourage the new Prime Minister to work with the sector on these suggested measures.”



 

profileimage

Ray Monty



Most Read

Exploring Brooklands Museum with Alex Patterson

Global Tourism Challenges and Upcoming Events: A Conversation with Don Welsh

Peebles Barbeque: A Legacy of Flavor and Tradition

Exploring Bok Tower Gardens with Erica Smith

Rue’s Living Water Boat Cruises: Exploring Winter Haven’s Chain of Lakes

Durango and Silverton Railroad: A Timeless Journey Through History and Scenic Beauty

Walt Leger on New Orleans’ Resilience and Major Events Ahead

Cindy Mackin Shares Estes Park’s Winter Thrills

Mark Jaronski of Explore Georgia on FIFA World Cup 2026

Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange

North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism

Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari