Revenue surges for Australian hospitality venues

The Australian hospitality industry is booming with new data showing venues across the nation have recorded their highest revenue since before the pandemic.

Figures from point-of-sale and e-commerce software provider Lightspeed show month-on-month revenue for bars in December jumped almost 18 per cent from November and was up 20 per cent when compared to the same time last year.

Lightspeed General Manager, Hospitality, Peter Dougherty said: “Aussies were out in force in December to support their favourite bars, restaurants and cafes. It caps a year of sustained success for an industry that has faced immense challenges during the last three years.

“Amongst over 10,000 local venues using Lightspeed, December represented the highest average monthly revenue since January 2020.”

NSW bars back to their best

The largest month-on-month revenue rises were in NSW, Victoria and South Australia.

In NSW, revenue from bars was up 13 per cent and restaurants was up by 14 per cent for the last month of 2022.

NSW Minister for Hospitality and Racing Kevin Anderson said 2023 was set to be even bigger and better for businesses.

“The NSW Government is committed to supporting councils, businesses and the wider community to build vibrant, diverse, inclusive and safe 24-hour economies across Greater Sydney and regional NSW,” Anderson said.

“We have introduced a raft of programs and initiatives to support the hospitality industry including extending our temporary alfresco dining measures until the end of the year, and allowing hotels and clubs to keep their doors open for longer for special events.

“Since our outdoor dining initiative started in 2020, more than 700 licensed restaurants, pubs, cafes and small bars have been accessing fast-tracked, simplified approvals to extend their liquor licence boundaries to include new outdoor dining spaces.”

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Categories: Business