Food profits fall for C&I venues

Survey shows venues being squeezed by rising food bills

C&I Venues have seen catering profits drop as the increases in food have hit home, according to a poll by the Meetings Industry Association (MIA).

The survey asked the trade body's venue members: ‘With food prices rising rapidly have you been forced to reflect this increase in your daily delegate rates?'.

Some 52 of 73 respondents - 71% - claimed to have held their prices and reduced margins in order to retain business, while 25% said they had been forced to increased delegate rates and 4% said they had reduced the quality of their food offer in order to maintain margins.

MIA chief executive Jane Evans said: "The ethos of the MIA is to encourage members to always offer the very best value for money and the highest levels of service. Clearly our members are continuing to ensure they do exactly that in spite of the current economic climate."

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