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Hotels are late in paying bills, shows reseach

1 commentBy Chris Druce , 03-Feb-2011

Bad weather played a role in late payments

Bad weather played a role in late payments

Businesses within the leisure and hotel sector settled bills on average 31 days late last year, according to new research by Experian.

Experian said this made it one of the worst performing sectors within the UK, although the postal and telecommunications sector took the dubious honour of being the slowest sector to pay up during 2010, taking an average of 47.19 days during Q4 2010.

The property sector also struggled; like leisure and hotels, payment times averaged well over thirty days during the quarter.

Average UK payment time across business sectors improved in 2010, from 22.81 days in 2009 to 22.58 days.

Bad weather

Jason Mills, head of payment performance at Experian UK & Ireland, said: “Although overall payment performance improved slightly during 2010, the final few months of the year have highlighted that businesses still need to be cautious.

“The bad weather played a key role in this downward trend with many firms closing as employees struggled to get into their offices. A late payment from one small business can easily lead to a cashflow problem in another, particularly when their corporate relatives take even longer to pay.”

Chris Druce is a contributor to BigHospitality sister publication M&C Report.

1 comment (Comments are now closed)

and this is news how??

how is this news I know this everyone who reads this site knows businesses in this industry pay late
it's non news

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Posted by Adam Phillips
05 February 2011 | 01h272011-02-05T01:27:27Z

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