UK debt has reached 100% of GDP, its highest level since 1961, according to new figures from the Office for National Statistics (ONS). Meanwhile, against this national backdrop, new research suggests that the hospitality sector is one of the industries facing significant debt concerns in the current climate.
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New company insolvency statistics from auditing firm RSM show insolvencies in hospitality saw a significant increase in the year to July, as an underwhelming summer compounded the challenges facing the sector.
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The UK pub and bar sector is set for modest growth in 2024, with a forecasted 1.5% rise in value, according to Lumina Intelligence’s Operator Data Index.
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Hospitality and leisure businesses face a fourfold increase in their bills, potentially adding tens of thousands of pounds to costs per venue, if business rates relief ends on 31 March.
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The number of job vacancies in the UK’s hospitality sector has dropped below 100,000 for the first time since the pandemic, according to new data from the Office for National Statistics (ONS). There are currently 98,000 vacancies in food service and accommodation, marking a reduction on recent years. However, the number remains 5,000 higher than pre-pandemic levels of 93,000.
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UKHospitality is urging the government to take immediate action to prevent a sharp rise in business rates for thousands of hospitality businesses, warning that bills could skyrocket in April 2025 without intervention.
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The London Assembly’s Economy, Culture and Skills Committee has launched an investigation into the challenges facing the city’s night-time economy, focusing on the long-term effects of the pandemic, rising inflation and the ongoing cost-of-living crisis. The inquiry aims to assess how well London’s night-time leisure sector has recovered and to explore how existing mayoral policies support the ambition of a “24-hour city”.
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A new Food & Beverage Manager Development Programme has been launched to help individuals working in hospitality to develop managerial and leadership skills.
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London’s D&D restaurant group isn’t the only major player in UK hospitality to significantly invest in outdoor spaces over the past 17 years.
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Caution about the future remains a staple concern among Britain’s hospitality leaders as pressure on the cost of doing business continues to rise.
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A recent ‘state of play’ forum with the London mayor’s office opened the floor to the hospitality sector, giving business owners the opportunity to voice their best and worst-case scenarios when it comes to city-wide reform. Jo Gilbert reports.
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Lighting up outside on restaurant terraces and pub gardens could be outlawed by the new Labour government, creating more uncertainty for businesses which are already struggling to encourage consumers to visit their venues.
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"Less spend, fewer visits and less time spent in venues" is the current reality for the Scottish hospitality sector as businesses face a double whammy of consumer reluctance and rising costs.
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Labour shortages and employee burnout continue to plague hospitality, a new report has found, as more than half (53%) of UK managers working in the sector say their company and staff are suffering.
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Alcohol consumption is declining globally, with the UK seeing a notable reduction of 23 percentage points, as more consumers opt for soft drinks, according to data from CGA by NIQ’s OPUS report.
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Summer 2024 has been a significant period for Britain’s pubs, bars and restaurants, with major sporting events like Men’s Euro 2024, Wimbledon and the Paris Olympics contributing to an 11% rise in consumer spending compared to last summer.
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Britain’s hospitality sector has recorded its first quarterly growth in outlets in two years, according to the latest Hospitality Market Monitor from CGA by NIQ and AlixPartners.
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The UK pub and bar market is expected to grow by 1.7% in 2024, reaching a total value of £23.6 billion, according to Lumina Intelligence’s latest report.
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The Pig Hotels have unveiled their first wines made from vineyards located in West Sussex and on the Kent-East Sussex border.
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The UK Bartenders Guild has initiated a fundraising campaign to honour its founder as the organisation approaches its 90th anniversary.
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