“December is a crucial interval for hospitality companies, equal to a few months’ value of buying and selling for a lot of. These new figures are crippling for an trade already struggling but in addition spell catastrophe for the broader UK financial restoration, as ONS figures confirmed that total progress in Q3 was pushed by hospitality.
“These gross sales drops versus 2019, and likewise in opposition to our members’ projections earlier than the onset of the brand new Omicron variant, may have taken most companies from wholesome buying and selling for the month to painful losses, delaying the sector’s restoration and increasing hospitality’s lengthy covid. Money reserves are severely depleted, and a few companies will battle to outlive the primary quarter of 2022.
“This dreadfully disappointing December has additional stymied our means to ship jobs, progress and funding at tempo, which everyone knows is so essential to the restoration of our economic system total.”