Ulster Unionist Economy spokesperson Diana Armstrong MLA warns of risk to survival of the hospitality sector following publication of the draft Reval 2026 valuations, with the average hotel increases up 63% and many businesses facing substantially more.

Diana Armstrong MLA said:

“I have grave concerns that figures based on this draft Reval will be the final nail in the coffin for many operating in hospitality. They have weathered a succession of threats from the rising day to day costs of overheads, supplies, labour and a skills shortage and already face a cliff edge in April 2026, when existing support ends.

“The hospitality sector is operating under extreme strain, supporting tens of thousands of jobs and contributing around £2bn annually to the local economy.  Imposing a major fixed cost increase in rates on businesses will impose the grim reality of further painful choices in job cuts, reduced opening hours, reduced investment, and higher prices for consumers or, in the worst cases, permanent closure.

“Reval 2026 is a dagger to the heart of hospitality, it is a disproportionate addition to a rates overhead that ignores the reality of soaring operating costs. As the NI Hotel Federation has warned, valuations driven largely by figures based on turnover risk missing the real time plummeting of profitability many venues have experienced in recent years.

“The Executive and Minister for the Economy must act now to reset the calculations, engage immediately with hospitality to ensure valuations reflect reality and save the sector already on its knees with crippling costs.

“The reality is we need hospitality on the front foot showcasing the best of Northern Ireland.  If the Executive does not intervene, Reval 2026 will not just rebalance bills. It will break businesses.”