Soaring costs leading to 'crisis situation' for hospitality industry

The report revealed that Ireland's electricity prices for businesses is 60% higher than the EU average leaving many businesses close to financial collapse.

Hospitality firms have been faced with substantial price increases this year.

Soaring energy bills and a sharp increase in food costs are causing a "crisis situation" for many businesses in the hospitality sector new research has revealed.

The report, commissioned by the Drinks Industry Group of Ireland (DIGI), revealed that Ireland's electricity prices for businesses are 60% higher than the EU average leaving many businesses close to financial collapse.