Hospitality industry 'at risk' as comparable revenues halve

Monday, November 15, 2021

According to the latest issue of UKHospitality and CGA Quarterly Tracker, third quarter revenues in 2021 and 12 months figures for restaurant and accommodation are almost half those of the same period before the pandemic. Annual turnover is £60bn lower than annual revenues of £133bn in 2019.

The Figures shows sales decreased by 45% for the 12 months to the end of September 2021 compared with the year-end to the end of September 2019, when Covid-19 launched, and annual sales by the same time remain 60 billion pounds lower than annual sales of 132 billion pounds for 2019.

It identified this year's Q3 sales, which represented a 73% growth rate on the same quarter of 2020, reflecting the benefits of removing restrictions.

UKAid chief Kate Nicholls said: "While things are certainly moving in the right direction, recovery remains painfully slow and there are massive gaps between the numbers now and where they were before Covid-19 wreaked its havoc.

According to the CGA & AlixPartners Market Recovery Monitor, which tracks inauguration and location closures, the licensed market lost 9.900 sites between March 2020 and September 2021, representing an 8.6% loss of venues.