'Loan repayment is not the only price pressure businesses face, with the sector now in a period of peak energy pain. Urgent action is needed from Government to bring costs down, particularly on energy, and more needs to be done to assist businesses in their pandemic debt.'
he combination of the King’s Coronation, Eurovision and three bank holidays means hospitality is set for a bumper month, according to UKHospitality.
'It’s becoming increasingly concerning that we’re not seeing inflation decrease as quickly as many hoped, particularly when business costs are experiencing inflation far higher than the 10.1% released by the Office for National Statistics today'
New data today showing food service price inflation remains above 20%, coupled with rising energy costs and a lack of support, signals the need for urgent intervention to save hospitality businesses.
UKHospitality Cymru is very disappointed to learn that Welsh Government will press on with plans to introduce legislation to enable a tourist tax despite the sector’s widespread rejection of the measures.
Leading trade body UKHospitality has hit out at the suggestion from the Bank of England Governor Andrew Bailey that businesses should not raise prices above the rate of inflation, when businesses are facing energy, food and drink costs far above the current 10% inflation rate.
UKHospitality Cymru has called for Welsh Government to use a new statutory licensing scheme to create a 'level playing field' between established serviced accommodation businesses and the short-term let sector.
The measures announced today are significant in incentivising people back into work and hopefully alleviating crippling labour shortages. The wider economic forecasts also give us encouragement that consumer confidence and spending are in for an upturn, albeit over time.
This week’s rail and tube strikes will heap further disruption on hospitality, particularly in central London, with the potential to cost the sector as much as £600 million in lost sales
A record 2.6 million people are now employed in accommodation and food service, with the sector creating one in five new jobs, all despite crippling vacancies and staff shortages.