Turnover volume sector hotels and restaurants substantially down

• Turnover volume shrinking for fourth quarter running
• Loss of turnover for restaurants and snack bars
• Turnover increase for hotels and pubs
  
  

Preliminary figures released by Statistics Netherlands show that turnover in the sector hotels and restaurants in the second quarter of 2008 was significantly below the level of one year previously. The volume of turnover declined by 3.5 percent. For the fourth quarter running, turnover volume was down on the previous quarter, but the decline is more sizeable than in the preceding quarters. Prices rose by 4.1 percent in the second quarter, resulting in a modest turnover growth of 0.5 percent.

Unlike other branches in the sector, restaurants and snack bars were faced with declining sales in the second quarter. Turnover fell by 1.6 percent, prices rose by an average of 3.9 percent. As a result, turnover volume was reduced by 5.3 percent relative to one year previously.

Within the sector hotels and restaurants, hotels achieved the best results. Turnover grew by 4.8 percent compared to a year ago.
Pubs realised a modest turnover growth of 0.4 percent. Prices were 3.5 percent up on the second quarter, turnover volume shrank 3 percent.

PDF contains complete press release, including graphics.