Pubs, bars and restaurants: Bills are up by 81 per cent in the year

Tuesday, May 30, 2023

Only a third of UK hospitality firms have an upbeat outlook on the future due to high energy prices and rising food costs, industry bosses have warned

Industry bodies have revealed fewer than a third of hospitality firms are improving their future plans after swallowing huge energy price rises, high food costs and higher wage bills.

Four of Britain's biggest hospitality groups - the British Institute of Innkeeping, UKHospitality, the British Beer and Pub Association and Hospitality Ulster - have been appealing for more support from the government.

The study showed that 29 per cent of hospitality industry clients were optimistic about tomorrow's outcome to the next 12 months.

Owners of the businesses listed that they were most worried about energy costs, with 86% of companies saying they were worried.

It is about a year since energy bills went up following Russia's invasion of Ukraine, triggering sharply higher gas prices.

As a consequence, many firms in the past year have been forced into fixed-rate long-term contracts that have been draining on profitability and leading to closures.

Last month analysis of official government data by business property specialist Altus Group revealed more than 150 pubs will be closed in English and Welsh communities in the first three months of 2023.