In an effort to kickstart the hospitality industry’s recovery, Rishi Sunak, UK Chancellor of the Exchequor, has announced a temporary cut to VAT on food, accommodation and attractions from 20% to 5%.
James Foice, ASAP CEO, says: ‘This is brilliant news for UK hospitality, we can all finally see a light at the end of the tunnel.
“The serviced apartment sector is predicted to recover especially well, especially our own ISAAP Accredited Members. They are looking forward to weloming guests into safe, self-contained accommodation with kitchens and in-apartment laundry facilities, offering maximum comfort and minimal contact with others.
“Welcome news indeed!”