Economy
The latest economic news and how it affects the hotel and hospitality industry. Keep up to date with all the latest stories with Hotel Owner’s industry-leading coverage.
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Sep- 2022 -23 September
Chancellor announces sweeping tax cuts in first mini-budget
Chancellor Kwasi Kwarteng has today (23 September) announced a ream of tax cuts alongside a £60bn energy support package as…
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22 September
BoE raises interest rates to 2.25%
The Bank of England has today (22 September) announced that interest rates will be raised by 0.5%, with rates rising…
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8 September
Energy bills to be capped at £2,500 a year from October
Prime minister Liz Truss has announced today that energy bills for typical households will be capped at £2,500 annually for…
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Aug- 2022 -30 August
UK hotel occupancy reaches 77% in July
UK hotels enjoyed higher occupancy rates, daily rates and gross operating profits in July, but there are fears a “record-breaking…
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26 August
Energy price cap to rise by 80% to £3,549 from October
Ofgem has confirmed that the energy price cap will increase by 80% to a record £3,549 a year for dual…
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15 August
Leisure market remains buoyant in H1, says Christie and Co
“More stable” trading conditions have been seen across the leisure market for the first time in two years in H1…
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11 August
Tui suffers Q3 loss despite positive hotel performance
Tui has revealed underlying losses before tax of €27m (£22.8m) for the third quarter of the year as flight cancellations…
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Jul- 2022 -29 July
UK travel and leisure sees capital decline of 75% YoY
As economic headwinds bite, the UK’s travel and leisure sector has experienced a capital raising decline of 75%, according to…
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25 July
Occupancy levels recover faster than expected in H1
Occupancy levels across have recovered at a much quicker rate than anticipated in the first half of 2022, nearing 2019…
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20 July
UKH calls for reformed business rates reductions to be reflected in bills
UKHospitality has called for reductions under reformed business rates to be reflected in bills “as quickly as possible” in response…
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