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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Jun- 2022 -23 June
AI could save hospitality over £26k per year, report shows
A report conducted by Yell into the application of artificial intelligence (AI) in business has revealed the significant time and…
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23 June
Record staff shortages costing hospitality £21bn in lost trade
The hospitality industry is reportedly losing £21bn in revenues and an estimated £5bn loss in tax for the Exchequer as…
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20 June
Rail strikes to cost hospitality £540m in lost sales
The three days of rail strikes set to take place this week will reportedly cost the hospitality sector £540m in…
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16 June
BoE raises interest rates to 1.25%
The Bank of England’s (BoE) Monetary Policy Committee has voted to raise interest from 1% to 1.25% – marking its…
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1 June
Energy costs for UK hotels have doubled in four years, RSM finds
Energy costs for the UK hotels sector in 2022 have doubled in four years, according to the RSM Hotels Tracker.…
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1 June
Almost half of businesses hit with price increases
Approximately half (48%) of businesses currently trading have reported that the prices of materials, goods, or services bought in April…
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May- 2022 -30 May
Platinum Jubilee weekend to bring £1.2bn economic boost
The Queen’s Platinum Jubilee is estimated to bring a £1.2bn boost to the economy as 5.3 million Brits are planning…
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25 May
National rail strike will ‘jeopardise’ hospitality recovery, says UKH
UKHospitality has warned that RMT’s proposed national rail strike this summer will “further jeopardise” the recovery of hospitality businesses working…
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24 May
UK Travel & Tourism to create 700,000 jobs over next decade, says WTTC
The Travel and Tourism sector in the UK is expected to create an average of 700,000 new jobs over the…
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18 May
Inflation hits 40-year high
UK inflation has hit its highest level in 40 years during the month of April, driven by the rising cost…
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