Restaurants warn of 41% slide in revenues for Christmas period

Businesses face €17,200 in costs to reopen,  as Ibec group says exceptional support measures needed in Budget

Members of the public enjoying outdoor coffee and dining in Dublin City centre, as fears mounted that the Government might impose nationwide Level 5 restrictions. File picture: Sasko Lazarov / RollingNews.ie

Revenues across the hospitality industry will likely slump by 41% in the fourth or Christmas quarter, according to a survey by accountants Crowe and the Restaurants Association, who called for a cut in the Vat rate and an extension of wage supports in next week's budget.

There could also be worse to come for businesses as restaurants face €17,200 in costs to reopen following new restrictions, the business group said, adding that only a minority of restaurants have secured landlord rent cuts.