Hospitality ‘most likely to cut trading to reduce energy costs’

Hospitality operators are more likely than any other industry to cut trading in a bid to reduce energy costs, according to the Office of National Statistics (ONS).

Figures reveal more than 1 in 20 businesses in the sector (6%) plan to stop trading for two or more additional days a week this month.

The same percentage said they had already done so in the last three months, which was among the highest of any business sector. They were also the most likely to reduce trading hours, even if they were still operating for the same number of days (21%).

The hospitality industry has been particularly affected by rising energy prices and, despite the government pledging to subsidise bills in September, 23% of businesses said energy costs were their principal concern.

The hospitality sector was also the most likely to say that energy costs were making them consider raising prices, with around two in five operators (41%) expecting to do so this month.