Inflation
UK Inflation Falls, but Rates Hike Fear Remains
UKHospitality Responds to July U.K. Inflation Numbers
UKHospitality Responds to July U.K. Inflation Numbers
'We would also urge flexibility on loan repayments, including extension to terms, options to move to interest-only payments or delay altogether, and flexible arrangements from HMRC for tax payments.'
Hotels and other accommodation continue to be undercut by the lack of regulation in the short-term let market.
'The rate of inflation reducing more than expected is good news for hospitality businesses, but it remains the case that food and energy costs are incredibly high. '
With the right economic and policy environment, hospitality could increase its direct contribution to the economy by £29 billion and create half a million new jobs by 2027, according to a new economic report
Steve Cassidy, Managing Director, Hilton UK & Ireland, will take over as Chair this week from Steve Richards, CEO of Parkdean Resorts, who moves to President
The Governments proposed registration scheme for short-term lets must be mandatory and nationwide across England, trade body UKHospitality said.
Responding to the publication of legal migration figures last week, UKHospitality Chief Executive Kate Nicholls said: 'If there is one thing evident from todays figures, its that the immigration system is not working effectively for businesses.'
Its encouraging that we have seen a more substantial drop in the overall rate of inflation, but it is worrying that food and drink inflation remains stubbornly high.
The latest vacancy figures from the Office for National Statistic show that vacancies in hospitality fell by 22% over the last year and by 9% in the last quarter. Vacancies in the sector remain at 132,000, which is still 48% higher than pre-Covid levels.