Britain's hospitality industry is navigating turbulent waters, pressured by high inflation, rising wage and food costs, and decreased consumer footfall, leading to cautious optimism.
Despite three consecutive quarters of decline in business confidence, some leaders note potential improvement as costs like energy bills ease, signaling resilience in the sector.
Nearly nine in ten industry leaders advocate for significant government reforms in business rates and taxation to foster recovery and growth in the hospitality sector.
Although 33% of hospitality leaders have reduced trading hours due to financial pressures, only 9% foresee their business failing in the coming year, indicating some stability.
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