Turnover volume sector hotels and restaurants 6.5 percent down

  • Pubs, wine bars and restaurants in the red
  • Higher turnover cafetarias
  • Sector faces decline of volume over 2008

Turnover volume in the sector hotels and restaurants shrank by 6.5 percent in the fourth quarter of 2008 relative to the same quarter of 2007. Prices rose by nearly 4 percent resulting in a turnover loss of 3 percent according to provisional figures released by Statistics Netherlands.

Pubs and wine bars performed poorly in the fourth quarter. They faced a turnover loss of more than 6 percent. Prices increased by 4.3 percent. As a result, turnover volume shrank by over 10 percent. Turnover volume realised by restaurants dropped 7 percent, turnover nearly 3 percent.

With business spending and and tourism in decline, turnover in the hotel branch dropped for the first time since the third quarter of 2004. Turnover loss in the fourth quarter was 3.6 percent.

Cafetarias, unlike other branches within the sector hotels and resataurants, realised a turnover growth of 1.8 percent in the fourth quarter of last year. Prices rose by 3.2 percent. Turnover volume of cafetarias was reduced by over 1 percent.

If the entire year 2008 is taken into account, turnover volume in the sector hotels and restaurants fell by 3.7 percent. The last time turnover volume shrank dates back to 2004. As prices were 3.7 percent higher, turnover remained stable relative to 2007.