Simultaneously with the publication of Q4 data, annual figures become available. In 2017, turnover in the sector hotels and restaurants was up by 7.4 percent compared to 2016, and matched the record growth in 1999.
Hotels show largest turnover increase
Turnover and the volume of sales (turnover adjusted for inflation) generated by hotels and fast food restaurants rose in Q4 compared to Q3. Hotels recorded the highest turnover growth (3.3 percent). Fast food restaurants (including fast food and take away outlets, pubs and bars) achieved a turnover growth of 1.1 percent. Their volume of sales grew by 0.5 percent.
Restaurants, on the other hand, recorded 1.2 percent less turnover and 1.7 percent less volume of sales in Q4 compared to Q3. In the previous eight quarters, they achieved turnover growth. Turnover in pubs (including pubs serving meals) and bars (including coffee bars) fell by 0.3 percent. Their volume of sales was down by 0.6 percent. In the previous four quarters, they achieved turnover growth.
Almost 7 percent year-on-year turnover growth in Q4
Relative to Q4 2016, the hotel and restaurant sector realised a turnover growth of 6.8 percent in Q4 2017. The increase in volume of sales was 4.4 percent. Relative to the same quarter in 2016, all establishments achieved turnover growth in Q4 2017.
The increase in turnover for 2017 was 7.4 percent, equal to the record growth in 1999. Volume of sales grew by 4.9 percent in 2017.