Hotels Group – Budget

It is a challenging time for hotels, research from CGA and AlixPartners, notes that in the UK there were 197 less hotels in December 2022 than in December 2021. Across all of hospitality, there were 1,611 less outlets by year end.

This had been noted in a letter from UKHospitality, a representative group for the hospitality industry, which counts 740 members and speaks on behalf 125 hotels and accommodation offerings, to the Secretary of State for Business, Energy and Industrial Strategy. This letter was jointly written with the British Institute of Innkeeping, the British Beer & Pub Association and Hospitality Ulster. The letter highlighted that 1 in 3 of these group's members were at risk of business failure in the next 12 months and chief amongst their concerns were energy costs. They asked for increased OFGEM enforcement and to allow renegotiation of energy contracts agreed during 2022.