Confidence is increasing, but business rates must be dealt with

Almost half (49%) of hospitality company leaders is confident that the hospitality market will recover in the next 12 months, up four percentage points from the 45% it recorded in August

Over a quarter (29 per cent) of managers say they have seen holiday bookings fall around this time in the past year - twice the percentage (15 per cent) who say bookings have fallen.

Employers have increased pay levels by an average of 10% during the last 12 months, even though better wage levels have helped to reduce the number of jobs that remain open from 11% in their last survey to 8%.

"These figures are another vote of confidence in hospitality and a sign that trading conditions may start to ease as inflation comes down," - Karl Chessell

"These figures are another vote of confidence in hospitality and a sign that trading conditions may start to ease as inflation comes down," said Karl Chessell, CGA Director for NIQ - Welcoming Food, Food and Restaurants, EMEA.

Well over a third (38%) of senior management is also deeply worried about the national living wage increasing.

Business rates are the most pressing issue at the minute and 57 in 57 are seriously worried about the changes to stamp duty in the Chancellor's Autumn Statement, to be announced today (22 November).

Support for tax reform and cuts has been broad, with 67 per cent of executives saying their business would be less stable if the tax breaks were removed.

Major figures say removal of relief would force them to slash investment (71%), cut staff (61%), increase menu prices (61%) or close sites (45%).

VIEW ALL JOBS