RCAT Division President Angelo Fraraccio
Editorial
The hospitality industry in Tasmania is critical to our community and the state’s economy. The industry supports jobs for Tasmanians, tourism and in many places is the lifeblood of our regions. Chatting to local businesses and customers, there are clear signs our industry is under pressure as the cost of living crisis makes a typically slow winter period even tougher for hospitality businesses. Everyone is feeling the crunch in some way and it’s having a big impact on our industry. Hospitality businesses are battling the cost of living crisis, inflation and high interest rates on two fronts - customers are feeling the pinch and spending less; and our operating expenses have dramatically increased impacting the ability of businesses to make a return and invest. There is uncertainty about the challenges that lie ahead and some apprehension they will prove difficult for a number of our hospitality businesses to overcome. But if history has taught us anything, it is that our industry is resilient. In my 40 years in hospitality, I have experienced many ups and downs, including the
relatively recent COVID-19 lockdowns and restrictions. Our industry has faced challenges in the past and will continue to in the future. But if we adapt as best we can and hold off this winter and cost of living storm, there is hope for smoother sailing ahead. The THA’s Hospitality 2030 vision for the future of our industry is strongly supported by the Government and pivotal to sustaining our recovery and fostering long- term resilience. The THA is also here to support our members. Our highly trained and experienced team are professionals in all aspects of the hospitality industry, and are able to provide you with the most up to date information, support and advice on all aspects of your business. The challenging times our industry faces are immediate, but I maintain a cautious optimism there are exciting times ahead. The uncertainty may seem overwhelming, but there is hope for a return to some level of normality and our place as an economic driver and cornerstone of our communities.
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