Issue 115
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Inflation and Staff Shortages Threaten £36bn Hospitality Growth
The hospitality and leisure sector’s post-pandemic recovery could be severely hampered by the cost-of-living crisis and a widespread lack of staff, a new report has warned. “UK Hospitality’s Next Challenge”, a study from Barclays Corporate Banking, shows that the release of pent-up consumer demand for socialising, holidays and experiences following the pandemic has given a boost to the sector.
Over three quarters (77%) of hotel and leisure operators are confident of growth this year, and had predicted an average 30.5% uplift in revenue compared with pre-pandemic levels. This equates to a £36bn rise in annual turnover over 2019, and a £54bn increase on 2021.
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