Turnover accommodation and food services 0.4 percent up

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Turnover in the sector accommodation and food services (previously known as the sector hotels and restaurants) rose by 0.4 percent in Q3 2018 relative to the preceding quarter. As reported by Statistics Netherlands (CBS), this is due to price increases. The volume of sales (food, refreshments and/or overnight stays) fell by 0.7 percent. Turnover in food and beverage services increased by 0.5 percent against 0.3 percent growth in accommodation services. For more than five consecutive years, turnover in the sector has increased each quarter.

Restaurants and cafés achieved 0.5 percent turnover growth

In Q3, turnover generated by food and beverage services (including restaurants, fast-food restaurants, canteens, catering companies and cafés) rose by 0.5 percent relative to the previous quarter. Prices increased, while the volume of sales decreased by 0.4 percent.

Canteens and catering recorded the highest turnover growth (0.9 percent). Fast-food restaurants, cafés and restaurants also achieved turnover growth relative to the preceding quarter. However, the volume of sales by restaurants fell by 0.9 percent, the first decline in volume over the past 2.5 years. Cafés also experienced a volume decrease.

Turnover accommodation services also slightly up

Relative to Q2 2018, accommodation services realised a turnover growth of 0.3 percent in the subsequent quarter. Growth in this sector is also due to price increases. The volume of sales decreased by 1.4 percent. Turnover generated by hotels grew by 0.2 percent, but the volume decreased by 0.9 percent. Turnover generated by other accommodations services, such as holiday homes and campsites, grew by 0.8 percent.

Entrepreneurs positive

Business confidence in the sector accommodation and food services was positive at the start of Q4, albeit slightly less than one quarter previously. More and more businesses in this sector are facing impediments due to staffing deficits. At the start of Q4, 30 percent of entrepreneurs in this sector reported they were facing impediments in their business operations as a result of understaffing. This percentage has increased rapidly since 2016 Q4.

The shortage of suitable personnel is also evident from the over 21 thousand outstanding vacancies in the sector accommodation and food services at the end of Q3. The number of bankruptcies in this sector in Q3 was higher than in Q3 2017.

At the start of Q4, entrepreneurs were asked about their expectations for next year. On balance, entrepreneurs in the sector accommodation and food services are positive about turnover, staff and investments in 2019, but less positive than they were about 2018.

Sources

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