The budget serves as a guiding light but we live in the reality that we know it is not going to be the answer.
The turbulent past 18 months have been an unprecedented time for hotels, prompting key changes in the sector, many of which are long-term, if not permanent. In order to survive, businesses must embrace change across their entire operation and do so quickly.
The study, Benchmarking Beyond RevPAR, which polled a consistent sample of nearly 45,000 hotel bedrooms across the UK over a 15-year period, revealed that payroll now comprises close to one third of a Regional hotel’s cost base.
The government is introducing the minimum living wage of £7.20 per hour (25 year olds and over) in April this year and operators will have to find a way of absorbing this increased cost.