Home Business News Hospitality sector loses £17.59 billion due to no shows and higher costs

Hospitality sector loses £17.59 billion due to no shows and higher costs

by LLB Finance Reporter
18th Oct 23 3:36 pm

Research by industry experts from Zonal and CGA by NIQ has revealed that no shows for pubs, bars and restaurants has doubled over the past year.

The hospitality sector is under a challenging conditions with soaring energy bills higher food costs and customers pockets are being squeezed by the cost of living.

September’s figures shows that 12% of reservations were either not honoured or were cancelled and the hospitality sector are missing out on £17.59 billion per year.

Olivia FitzGerald, chief sales and marketing officer at Zonal, said: “These latest insights show that no-shows are still very much an issue facing the industry and it is a costly one.

“It is important that we continue our efforts to educate customers on the impact that not honouring bookings has on the industry, as well as finding ways for businesses to help reduce the risk of these no-shows occurring.”

CGA by NIQ’s client director Andy Dean said: “This research is incredibly important in highlighting the impact no-shows are having on the hospitality sector.

“Whilst customers might think missing a reservation is only a minor inconvenience for the venue and staff, the wider connotations need to be emphasised to customers, so they appreciate the need to show up for hospitality, support the industry and the workers within it.”

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