Michael Kill, CEO of NTIA, cautions that the Hospitality, Night Time Economy, and cultural sectors in the capital are poised to endure an exceptionally challenging festive period.
This predicament is exacerbated by the cost of living crisis and the recent announcement of a 6-month extension to industrial action on the underground & overground.
The profound impact of these ongoing disruptions on our industry, once again prompts a call for a concerted effort to find a resolution.
The timing is particularly worrisome, coinciding with the crucial “golden quarter”, a period pivotal for annual revenue generation that sustains the sectors through the slower months in early 2024.
The mounting losses incurred due to rail disruptions pose a threat to countless individuals and businesses within the industry, with concerns that continued industrial action could potentially double current sector losses.
Kill appeals to all parties involved in the dispute to prioritise the well-being of the night-time economy and hospitality sectors.
While acknowledging the importance of fair labour practices and workers’ rights, he underscores the necessity for balance and compromise. The current situation, detrimental to all stakeholders, demands a prompt resolution in the best interest of the nation’s economy.