Unemployment
Reporting on how unemployment trends in the UK impact the hotel industry, with a focus on recruitment challenges, labour availability, and regional employment shifts. This tag includes analysis of national job market data, government employment schemes, and commentary from hotel operators on staffing levels, retention, and the effect of economic cycles on hiring. Coverage also explores how rising or falling unemployment affects demand for hotel stays across different segments.
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Jun- 2024 -3 JuneHotels
Premier Inn uplifts its bedroom target to 5,000 rooms in Ireland
Premier Inn is seeking an additional 30% more rooms in Ireland as it responds to high demand and an undersupply of branded hotel rooms The company has revised its medium-term growth target to 5,000 bedrooms in Ireland and has released an updated list of target locations where it wishes to…
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Sep- 2023 -21 SeptemberLatest News
Bank of England keeps interest rates unchanged at 5.25%
Following 14 straight rate rises, the Bank of England (BoE) has kept interest rates unchanged at 5.25%. At its latest meeting, the Monetary Policy Committee (MPC) voted by a slim majority of 5–4 to maintain the current rate, though four members preferred to increase the rate to 5.5%. The MPC…
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Jan- 2023 -23 JanuaryEconomy
Consumer confidence improves for first time in 15 months
UK consumer confidence in the final quarter of 2022 improved by half (+0.6) a percentage point, according to the latest Deloitte Consumer Tracker, marking the end of a 15-month period of consecutive decline. Deloitte said overall confidence was boosted by “significant” quarter-on-quarter improvement in sentiment towards levels of debt (+3.8…
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Dec- 2022 -15 DecemberEconomy
Bank of England raises interest rates by 0.5% to 3.5%
The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 3.5%, the highest level in 14 years. At a meeting held on 14 December 2022, the Bank’s MPC voted by a majority of 6-3 to increase rates by…
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Nov- 2022 -3 NovemberEconomy
BoE raises interest rates to 3%
The Bank of England (BoE) has raised the base rate of interest to 3%, an increase of 0.75%, as it warned that the UK is set to face its longest recession since records began. At its meeting ending on 2 November 2022, the Bank’s MPC voted by a majority of…
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Aug- 2022 -16 AugustFeatures
The great resignation: is there light at the end of the tunnel?
The UK economy has been in the throes of employment difficulties since the onset of the Covid-19 pandemic, drowning in rising vacancies and a lack of employee retention. As we all know, the hospitality industry has arguably been the worst hit sector as restaurants and hotels are struggling more than…
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4 AugustLatest News
BoE hikes rates to 1.75%, warns UK to enter recession until 2024
The Bank of England (BoE) has raised interest rates from 1.25% to 1.75%, marking the biggest rise in rates since 1995. In its latest announcement, the BOE also projected that the UK would fall into a recession in the fourth quarter of the year, which is expected to last for…
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Jun- 2022 -16 JuneEconomy
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 fifth rise in a row as it bids to offset the impact of rising inflation. The Monetary Policy Committee voted by a majority of 6-3 to increase the rate to…
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Oct- 2021 -27 OctoberEconomy
Chancellor unveils 50% rates cut for Retail, Hospitality and Leisure
Chancellor Rishi Sunak has unveiled a 50% discount on business rates for the hospitality, retail and leisure sectors (up to £110,000), equating to a business tax cut worth £1.7bn, the biggest single-year rates cut for firms in over 30 years. Unveiling his latest Budget in the Commons today (27 October),…
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Jun- 2021 -30 JuneTrade Organisations
Sustainable Hospitality Alliance launches youth training program
The Sustainable Hospitality Alliance has developed a new training curriculum to give young people who are struggling to gain employment in the sector the “core skills” they need to get started in their careers. The development of the programme has been supported by IHG Hotels and Resorts through a legacy…
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