Downtown is excited that our Leaders Lunch on Tuesday, March 26th, will be exploring the important and all too current topic of evolution of the Hospitality Industry and the increasing Challenges facing businesses in the sector.
Over recent years, the hospitality industry has come across some significant obstacles stemming from changes in the economy and customer preferences and habits. This has lead to a drop in revenue and occupancy rates for many businesses, and combined with technological advancements, businesses have been forced to adapt swiftly to new and uncertain times.
No one knows this better than Greater Manchester Nighttime Economy advisor, Sacha Lord, who we are delighted will be hosting this latest Leaders Lunch. As Chair of the Night Time Industries Association and Co-Founder of events such as The Warehouse Project and Parklife Festival, Sacha has accumulated decades of experience creating transformative initiatives in Manchester to promote and improve its nighttime social scene.
Drawing on his many years of experience and deep understanding of the sector, Sacha will be addressing our members and attendees at the lunch on crucial topics surrounding the hospitality industry and the challenges facing businesses today.
Consumer preferences have changed significantly in recent years with customers placing greater emphasis on sustainability and becoming more health-conscious in the wake of the environmental crisis. Businesses must also contend with having to adapt to technological advancements, such as the increasing use of online booking platforms and social media.
After the announcement of the Spring Budget in March, many business owners in the sector have been sharing their disappointment with what they perceive to be a lack of support for their industry. Many had expected for VAT to be cut and a cap in business rates to be announced, indeed some small businesses had been relying on this to provide a lifeline for their company, during current difficult economic times.
However, despite a freeze on alcohol duty for another year and an increase in the threshold at which businesses and the self-employed have to register, from £85,000 to £90,000, the Chancellor Jeremy Hunt made no announcements concerning business rates.
Despite the many obstacles, Downtown believes that with the right strategies and support, the hospitality sector can thrive by embracing changes and capitalizing on emerging trends.
As Greater Manchester’s first-ever Night Time Economy Adviser, Sacha will offer his unparalleled insights into the many issues that are together reshaping the hospitality landscape. With extensive experience working alongside Mayor Andy Burnham and the Greater Manchester Combined Authority, Sacha brings a fresh and unique perspective on supporting businesses and individuals within the sector to thrive amidst economic shifts.
We hope that this fantastic event will bring together industry professionals for a truly dynamic lunchtime packed full of insights, networking, and a robust discussion on the evolution of the hospitality sector.
We encourage anyone working in or with an interest in the hospitality sector to attend.
To register or inquire about the event, please contact Amy Judge at amy.judge@downtowninbusiness.com.
For a full list of upcoming events please CLICK HERE.
