More than a third of the UK’s hospitality sector is at risk of business failure this winter due to the cost crisis, according to a new survey by UKHospitality, the British Beer and Pub Association and the British Institute of Innkeeping.
The organisations’ joint survey - completed by 506 pubs, restaurants, bars, hotels and other hospitality venues - showed that 35% were expecting to be operating at a loss or be unviable by the end of the year, with 96% experiencing higher energy costs and 93% facing food price inflation.
The impact of the cost crisis on customers is also being felt, with more than three quarters of operators (77%) seeing a decrease in people eating and drinking out, and 85% expect this to worsen going forwards.
