An outcry has erupted from the trade following yesterday’s Autumn Budget, which led to disappointment on many fronts, including a measly 1p off draught beer, further rises to duty for wine and a lowered rate of business rates relief which has been described a kick in the teeth to businesses.
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Following the July announcement from international trade fair organiser RX that BCB, a global bar and beverage trade show, will debut in London, organisers have confirmed the date and venue.
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The hospitality sector is facing a substantial increase in operating costs as the Chancellor confirms a 6.7% rise in the National Living Wage, set to take effect in April 2025. The uplift will raise the hourly rate from £11.44 to £12.21, directly impacting more than 3 million workers and adding an estimated £1.9bn to the hospitality sector’s wage bill.
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A survey of pubs, breweries and hospitality businesses has revealed that jobs and investment plans would be threatened if business rates relief expires in April, causing bills to quadruple.
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London-based wine bar and retailer Humble Grape is bolstering its retail and B2B operations with the appointment of David Green as director of sales.
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Glynn Purnell’s Michelin-starred restaurant, Purnell’s, has shut its doors after 17 years. The Birmingham-based restaurant served its final guests on 12 October, with Purnell citing economic challenges and pressures on the hospitality sector as key reasons for the closure.
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UKHospitality has welcomed the government’s focus on employment flexibility in the Employment Rights Bill but cautioned that the proposed changes could lead to additional costs and require further consultation to avoid unintended consequences.
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The Bank of England’s base rate, also referred to as the Bank Rate or simply the interest rate, is a key economic tool that affects the cost of borrowing and returns on savings in the UK. Set by the Bank of England, it helps control inflation and maintain economic stability.
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More than one in ten British pubs are at imminent risk of closure, with 11% of the UK’s pubs classed as technically insolvent and facing maximum credit risk, according to analysis by accountancy firm Price Bailey.
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Majestic Commercial, the on-trade arm of the UK’s largest wine retailer, Majestic, has signed a significant deal with Macdonald Hotels & Resorts.
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James Bayley digs deep into what makes a wine list tick.
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From today (1 October), hospitality workers in Great Britain will have legal protection to receive 100% of tips paid by customers in restaurants, cafes, hotels and other service industries. However, these rights do not extend to Northern Ireland, leaving workers there without the same protections as the rest of the UK.
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Bibendum Wine has launched its New Bordeaux School, an educational programme targeting sommeliers.
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UK debt has reached 100% of GDP, its highest level since 1961, according to new figures from the Office for National Statistics (ONS). Meanwhile, against this national backdrop, new research suggests that the hospitality sector is one of the industries facing significant debt concerns in the current climate.
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New company insolvency statistics from auditing firm RSM show insolvencies in hospitality saw a significant increase in the year to July, as an underwhelming summer compounded the challenges facing the sector.
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The UK pub and bar sector is set for modest growth in 2024, with a forecasted 1.5% rise in value, according to Lumina Intelligence’s Operator Data Index.
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Hospitality and leisure businesses face a fourfold increase in their bills, potentially adding tens of thousands of pounds to costs per venue, if business rates relief ends on 31 March.
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The number of job vacancies in the UK’s hospitality sector has dropped below 100,000 for the first time since the pandemic, according to new data from the Office for National Statistics (ONS). There are currently 98,000 vacancies in food service and accommodation, marking a reduction on recent years. However, the number remains 5,000 higher than pre-pandemic levels of 93,000.
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UKHospitality is urging the government to take immediate action to prevent a sharp rise in business rates for thousands of hospitality businesses, warning that bills could skyrocket in April 2025 without intervention.
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The London Assembly’s Economy, Culture and Skills Committee has launched an investigation into the challenges facing the city’s night-time economy, focusing on the long-term effects of the pandemic, rising inflation and the ongoing cost-of-living crisis. The inquiry aims to assess how well London’s night-time leisure sector has recovered and to explore how existing mayoral policies support the ambition of a “24-hour city”.
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