Hotel Owner’s Post

🍂 As autumn and winter approach, we know all too well how crucial this period will be for the hospitality industry. With businesses preparing for the seasonal surge, my hope is that the upcoming budget not only supports growth but also provides a clear fiscal plan to drive success across the wider economy. Now, more than ever, we need strategic measures that help our industry thrive and ensure a positive impact for the long term. Let’s hope for a budget that fosters resilience and unlocks the full potential of our sector. #Hospitality #Growth #Budget2024 #EconomicGrowth #HospitalityIndustry

We now know what the UBR's for 2025/26 will be for England, Scotland and Wales. With a revaluation due from 1st April 2026 and the announcement of new discounted multipliers in England for 2026/27 for qualifying retail, hospitality and leisure properties together with a higher multiplier for properties with rateable values for £500,000 or more, forecasting future liabilities is becoming more and more complicated. Hopefully the Government will confirm the adjustments as soon as possible to allow business to plan. See our latest update below. #businessrates #propertytax #ukbudget

UKHospitality Urges Government to Stabilise Rates With the upcoming Budget, UKHospitality has sounded the alarm, calling for a fixed, lower hospitality rates multiplier. As the current business rates relief approaches its end on 31 March 2025, the trade body emphasizes the critical need for government intervention to prevent a surge in business rates bills that could threaten the viability of many hospitality businesses. The potential impact is stark: for instance, a pub with a rateable value of £80,000 might see a rise of nearly £33,000 in rates. The argument from UKHospitality is not merely about immediate survival but also about ensuring long-term stability and growth within the sector. "A new, lower multiplier for all hospitality businesses would begin to rebalance a broken system that is weighted against bricks and mortar businesses," says Kate Nicholls, CEO of UKHospitality. The trade body believes that such a measure would not only provide certainty but also fulfil a key manifesto commitment to recalibrate the business rates system, which disproportionately hampers physical establishments. As we anticipate the chancellor's decisions on 30 October, it's worth noting that the hospitality sector significantly contributes to the UK economy, generating £140bn in revenue and employing over 3.5 million people. Balancing the business rates system through a lower, permanent and universal hospitality multiplier is a move that the sector dearly needs. Let's continue this conversation—do you agree that rebalancing business rates is essential for the future of hospitality? #HospitalityMatters #BusinessRatesReform #UKBudget2024

Permanent business rate cut for high street on the way The government has published draft legislation to permanently cut business rates for retail, hospitality and leisure properties from 2026. Read More: https://lnkd.in/gsQgfQz8

🏨 Rate Cuts Set to Spark Hotel Deals + New Projects 🏗 Good news for Nashville's Patel's! The Fed is expected to begin a series of gradual interest rate cuts, providing a much-needed boost for hotel owners and investors. Here's what to expect: 📉 Rate Cuts on the Horizon   • Oxford Economics, UBS, + Bank of America suggest a 25-basis-point cut soon, with rates dropping up to 100 basis points by 2025   • Aimed at achieving sustainable growth without recession  🏢 Increased Hotel Transactions   • Lower rates could unlock capital, driving more deals   • Experts predict a rise in activity by 2025 as borrowing costs fall  🏗 Development Opportunities   • Rate cuts could free up capital for new projects, but progress may be slow due to lending requirements   • Noticeable impact expected by 2026  💼 Business Travel Uptick   • Lower rates may encourage companies to invest, potentially boosting business travel  🔍 Key Considerations   • High material and labor costs still pose challenges   • Delays in acting could lead to a more competitive market  📍 The Bottom Line   Rate cuts will likely spur hotel deals and new projects, but changes will unfold gradually. Stay informed and be ready to seize opportunities. https://lnkd.in/e-3tq7RQ #InterestRates #HotelInvestment #RealEstate #Development #BusinessTravel #FedRateCut #HospitalityMarket

2025/26 business rates – Are you prepared? From England’s inflation-linked increase to the standard multiplier and reduction in retail, hospitality, leisure relief from 75% to 40%, through Scotland’s targeted hospitality relief and Wales’s increased multiplier, business rates liabilities are set to change once again and it’s time to prepare. Use our guide below for a quick reference on the changes. As well as the immediate changes, the Government’s introduction of the Transforming Business Rates proposals looks to keep evolving the business rates landscape - and with that comes uncertainty for businesses. Key proposals include: - New lower multipliers for retail, hospitality, and leisure in England - Changes impacting higher-valued properties - Modifications in relief schemes across England, Scotland, and Wales - Revisiting empty property relief - Greater transparency and information sharing Read more about how these changes could affect you: https://okt.to/yoXxBS Simon Green #BusinessRates #UKBudget #PropertyInvestment #RealEstateUpdates #UKPropertyMarket

Some useful points here, worth a read.

The Hospitality Industry: A Lifeline for a Flatlining Economy The recent news of a stagnant economy [UK inflation falls to 3.9% - our response, UKHospitality] serves as a stark reminder of the vital role our hospitality sector plays in the UK's economic well-being. As Kate Nicholls, Chief Executive of UKHospitality, rightly points out, when hospitality suffers, so does the entire economy. The hospitality industry is a powerhouse for the UK, contributing a significant amount in several key areas: Economic Growth: Hospitality has seen a £20 billion increase in its annual contribution to the economy in just six years, reaching a staggering £93 billion [Economic contribution of hospitality - UKHospitality, UKHospitality]. Job Creation: Hospitality is the third-largest employer in the country, providing jobs for over 3.5 million people [Economic contribution of hospitality - UKHospitality, UKHospitality]. Tax Revenue: The industry generates a substantial £54 billion annually in tax receipts for the Treasury [Economic contribution of hospitality - UKHospitality, UKHospitality]. Investment: Hospitality attracts significant business investment, totaling £7 billion last year [Economic contribution of hospitality - UKHospitality, UKHospitality]. These figures speak volumes about the importance of a thriving hospitality sector. A Call to Action As we navigate these economic challenges, it's crucial to recognize the hospitality industry's potential as a driver of growth. By supporting businesses in this sector, we can ensure a more robust and resilient economy for the entire nation. Let's discuss! Share your thoughts in the comments below. How can we ensure the continued success of the UK's hospitality industry? #UKHospitality #HospitalityIndustry #Economy #Jobs #Growth https://lnkd.in/e4NEsyis

Statement issued today by Highland Chambers of Commerce: Concerns About the Proposed Visitor Levy The four Highland Chambers of Commerce - Cairngorms Business Partnership, Caithness Chamber of Commerce, Inverness Chamber, and Lochaber Chamber of Commerce - stand united with the The Scottish Tourism Alliance (STA) in expressing deep concerns over the proposed visitor levy in the Highlands. Key concerns include: - Economic Impact: Increased costs may deter visitors and harm local businesses. - Administrative Burden: The percentage-based model is complex and costly; a fixed-fee approach would be fairer. - Uncertain Funding Use: Transparent allocation of funds to enhance visitor experiences is crucial. - Competitive Disadvantage: The levy risks making the Highlands less attractive compared to other destinations. - Lack of Consultation: Many remain unaware of the levy’s implications, including Highland residents who will have to pay the levy when travelling within their region. - Operating Costs: VAT on the levy adds financial strain, risking business closures and shorter seasons. We urge the The Scottish Government and Highland Council to pause and reconsider the levy’s impacts, re-evaluate the charging model, guarantee funding transparency, and consult meaningfully with businesses and communities. Tourism is vital to our region’s economy. Together, let’s ensure sustainable solutions that work for everyone. 🔗 Read the full statement on our website here - https://lnkd.in/d42Bggnu #HighlandTourism #VisitorLevy #ScottishTourism #HighlandBusiness #ChamberOfCommerce

OPERATIONAL PLAN 2024/2025 | OUR ECONOMY Our 2024/2025 Operational Plan sets out 162 actions that Council will undertake in the coming financial year to make Singleton an even better place to live, work and play. The Operational Plan takes its direction from the objectives of the four-year Delivery Program derived from the 10-year Community Strategic Plan, covering off what we’re going to do as well as Council’s budget, capital works program, rating information and fees and charges. Actions are divided into five pillars including Our People, Our Places, Our Environment, Our Economy and Our Leadership. Key actions for 2024/2025 under OUR ECONOMY include: ➡ Delivery community events such as Christmas on John Street, Twilight, and Firelight ➡ Support local business and individuals to access new markets, jobs and skills ➡ Collaborate with Hunter Valley Wine Tourism Alliance, Alliance Working Group and Hunter Valley Wine and Tourism Association to promote our visitor economy ➡ Deliver the Destination of Choice for investment adopted action plan You can read the 2024/2024 Operational Plan here ➡ https://lnkd.in/gsjQNTeT Want to provide your input on the review of the Community Strategic Plan to influence future Operational Plans? Take the survey or find out where you can come and chat to us ➡ https://lnkd.in/gAcdRBHZ