Tips & Tricks
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25 Jul, 2023
The latest version of ResDiary's Beyond the Booking report on the UK hospitality industry has arrived and features key findings on the different challenges venues are facing in different regions across the UK. Check out this this handy and easily sharable infographic to see how your business compares.
What are the big hospitality challenges being reported in different regions?
Among the top key findings was the sharp and sudden rise in energy costs and its impact on restaurant operations. It therefore comes as no surprise to see almost all restaurants (96%) forecasting increased costs for 2023 compared to 2022.
Furthermore, almost nine in ten (89%) restaurants are planning to increase their menu prices to help compensate for rising costs.
It may not be a surprise to see then that the outlook for forecasted revenue growth for 2023 was -2% overall across all respondents. However, there were some distinct differences between different regions in the UK, not just in projected revenue growth but also in the challenges hospitality businesses are facing.
That's why we've created this helpful infographic to give you the highlights and key challenges highlighted in the report for your region. Feel free to read it here or download it to review in your own time.
On the findings, ResDiary CEO, Colin Winning said, “As the shackles and impact of the COVID-19 pandemic appear to finally be loosening, it has been refreshing to see UK restaurant doors open once more and the sector getting back into full-swing.
Despite this, rising energy prices, inflation, and a volatile economy have led to a longer route to post-pandemic recovery than first envisaged. The result is a remaining sense of unwelcome uncertainty for hospitality businesses and their customers.”
You can read and download the full Beyond the Booking 2023 - Q1 report here.
Check out this infographic to see the key findings and challenges are for hospitality venues in your area
About the report
Online restaurant booking platform ResDiary launched the report to provide valuable insights into the state of the hospitality industry and the latest dining trends in the UK. The report, which is based on responses from 208 UK hospitality venues and 827 UK consumers, also contains up-to-date stats to help restaurants benchmark themselves to the rest of the UK.
