New Hospitality Report Released

New Hospitality Report Released

A new hospitality report, presented to Minister of Statistics and Minister for Small Business, the Honourable Craig Foss, by Hospitality New Zealand and Crowe Horwath, has identified three key drivers which are affecting New Zealand’s hospitality businesses. This report captures and translates data from a number of sources, but particularly Statistics New Zealand, and translates it in a way to better inform hospitality businesses as to trends affecting their businesses.

Hospitality New Zealand Chief Executive Bruce Robertson indicated that the three key drivers were globalisation, the increasing burden of legislative compliance and the upward pressure on input costs.

Globalisation with a strong growth in tourism and traveller numbers from Asia and traditional markets in Europe and North America, were making a very positive contribution to the sector. Keys to optimising this growth are issues of connecting hospitality businesses with customers, and the use and cost of online booking systems and customer feedback loops.

The second driver is the increasing burden of legislative compliance in hospitality businesses, in particular with the implementation of Local Alcohol Policies and prescriptive requirements around licence renewals and the issuing of new licences. Equally decreased consumption of alcohol within some hospitality businesses as a result of the drink drive limit is having a clear impact.

The third driver is the upward pressure on cost inputs. Hospitality New Zealand, with Crowe Howarth, have developed an economic model for the New Zealand industry listing key inputs and outputs, including both financial and non-financial aspects. It is expected this index will become a powerful tool over time as it tracks changes and indicates trends.

Partnering with Crowe Horwath has provided access to analytical skills to pull the report together as well as business expertise to interpret the numbers and provide solutions for our members, said Mr Robertson.

It is expected that the Hospitality Industry Market Insights report be updated at least on a six-monthly basis and will be a very good tool for hospitality businesses to look at trends and benchmark those trends against those business costs and opportunities. The report, while focussing on the three key drivers, will also include the important data on accommodation and occupancy rates, alcohol sales, Paymark transaction data and a wealth of other useful information. The full report is available free to Hospitality New Zealand members and available for purchase by non-members at $75. Mr Robertson said it has never been more important for hospitality businesses to have good information about trends to ensure ongoing viability in business.

ENDS

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