Two-thirds of UK hospitality businesses plan to cut jobs and one in seven will close, survey finds

"An industry-wide survey found that 64% of firms plan to cut jobs, 42% intend to reduce trading hours, and one in seven will be forced to close."

"UKHospitality estimates that increases to the national living wage and national minimum wage will result in an extra £1.4 billion in costs for the sector."

"The average hotel in England is expected to face an increase of £28,900 this year, while the average restaurant can expect a 15% increase worth £1,800."

"Trade bodies warn that the hospitality sector's tax burden is the highest in the economy, leading to more lost jobs, less investment, and business closures."

A survey of 20,000 hospitality businesses reveals that 64% plan to cut jobs and 42% intend to reduce trading hours due to rising costs. Changes to business rates and minimum wage thresholds will impose billions in additional costs starting April 1. The hospitality sector faces the highest tax burden in the economy, leading to potential job losses, reduced investment, and business closures. The average hotel and restaurant will see significant cost increases, despite a government support package for some venues.

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