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 -27 June
Hospitality revenue could rise by £36bn despite challenges, says Barclays
The UK hospitality and leisure sector could see a potential revenue rise of £36bn this year against pre-pandemic levels despite…
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24 June
Magnuson CEO warns of ‘rapid decline’ of independent hoteliers
Magnuson Hotels CEO Thomas Magnuson has warned that the share of UK independent hoteliers within the industry will fall to…
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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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