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Home Business

Restaurants are hiking prices

Andrew Batt by Andrew Batt
Wednesday, November 1, 2023 5:01 am
in Business, Food, Lifestyle, Reading
A A
Jaipal Yadav, managing director of Favouritetable.

Jaipal Yadav, managing director of Favouritetable.

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Reading-based restaurant booking software business Favouritetable has written to Energy Minister, the Rt Hon Graham Stuart, to raise the issue of increasing energy costs for the hospitality sector after surveying its clients to find out if growing bills are inhibiting their businesses.

As part of its ‘Big Question’ series – an initiative aimed at getting to the heart of issues that inform restaurant owners, the Thames Valley Park-based form asked more than 350 of its clients and other restaurateurs if they had raised their prices due to current energy costs.

Some 52% of respondents reported that ‘yes,’ they have increased and passed on rising energy costs to their customers.

Jaipal Yadav, managing director of Favouritetable, said: “The subject of increased energy costs is clearly causing significant challenges for an already under-pressure hospitality sector, and I have written to Graham Stuart expressing grave concerns that more than half of the restaurants we work with appear to be struggling against this pressure.

“We have already seen data earlier this year indicating that UK pubs and restaurant average bills have surged by 81% owing to increased energy and food costs, and our findings add further fuel to this fire.

“We are strongly encouraging the Government to take action to support this crucial £17.8 billion pound sector.”

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