article thumbnail

Spring Budget 2023: Takeaways for hospitality and urban living

Boutique Hotel News

UK: Today, the Chancellor of the Exchequer Jeremy Hunt has outlined his Spring Budget. Contents of the Budget which affect hospitality includes: • From August, alcohol taxes on wines will rise by up to 50p a bottle but the duty charged on draught beer will be up to 11p lower than the duty in supermarkets. • million) will be abolished.

Budgeting 130
article thumbnail

Easyhotel’s secret to success in the budget sector

Hotel Owner

The budget hotel sector has seen major growth in the last few years as people either cut back on luxuries or want less luxury from their hotel stays. In 2022, Easyhotel’s RevPAR was up 56% and its market share increased showing strength of the budget model in the current climate.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Why Restaurants Should Prioritize Technology In 2023 Budgets

Modern Restaurant Management

Come 2023, it will be increasingly important for restaurants to factor technology into their budgets to adapt to the changing economic landscape and better meet consumer demand. For these reasons, restaurants should factor technology into their 2023 budgets.

Budgeting 168
article thumbnail

Hotel Budgets: Things to Keep in Mind When Budgeting for 2023

Revenue Hub

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Let’s look at a few areas you should think about when preparing the annual budget for your hotel.

article thumbnail

How to budget and manage Customer Acquisition Cost

eHotelier

The traditional P&L based on cost categories is not telling stories about what is going on in the business, nor does it help make any relevant decisions.

Budgeting 264
article thumbnail

For Restaurants, 2021 Budgeting Will Require a Three-Tiered Approach 

Modern Restaurant Management

The high levels of uncertainty surrounding the future of the COVID-19 pandemic highlight the importance for restaurants to rethink their approach to budgeting for 2021. Budgets were thoroughly reviewed, signed off on and then periodically updated every 30, 60, or 90 days. Budget No. Budget No. Budget No.

Budgeting 203
article thumbnail

Spring Budget: Corporation tax to rise to 25%

Hotel Owner

Corporation tax is set to rise from 19% to 25% for firms with profits over £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget. As part of the budget no further changes were announced on VAT, income tax or National Insurance levels. by the end of 2023.