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BUSINESS BRIEFS

Restaurants, hotels see drop in sales

RESTAURANTS and hotels saw a 17.5 percent year-on-year drop in their revenues in the first quarter of 2003, the Statistics Office reported.

"If people have to pay more for living expenses and transport, they save on those outgoings that are luxuries, like sitting in restaurants, for example. The higher VAT and energy costs have increased the prices in individual hotels and restaurants," explained Pavol Kašuba, from the Slovak Hotel and Restaurant Association.

Despite lower revenues across the rest of the country, revenues in the Trnava region grew by 50 percent.

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