A joint survey from UKHospitality (UKH), the British Institute of Innkeeping (BII) and the British Beer & Pub Association (BBPA) showed 76% would experience lower profit.
Furthermore, 51% would cancel planned investment and more than a quarter (28%) would have to close at least one site.
The trade bodies warned the end of the relief would worsen an already perilous situation, estimating the average pub could lose £12,000 while a high street restaurant could see its bill soar by £30,000.
They have written to the Chancellor ahead of the Budget this week (Wednesday 30 October), asking for support to be extended at the fiscal event through a lower, permanent and universal level of business rates, as a bridge until full reform of the system is delivered.
Stark reminder
A joint statement from the trade bodies said: “This is a stark reminder of what faces our pubs, brewers and hospitality venues if business rates support isn’t addressed at the Budget.
“Many cash-strapped pubs, brewers, bars, restaurants and cafés, to name a few, would simply be unable to survive their rates bill quadrupling.
“Not only does inaction risk half of businesses having to cut jobs and cancel investment, but it also means a quarter would have to consider closing at least one site, which might be their entire business.
“This worst-case scenario outcome would rob towns and cities of vital community hubs.
“With the right investment and support, the beer, pub and hospitality sector has enormous potential to create more jobs, drive economic growth and regenerate our high streets."
United ask
The statement added: “Across hospitality, we are united in our ask to the Chancellor to continue business rates support through a lower, permanent and universal level of business rates or an extension of the current relief, while full reform of the system takes place.”
Recently, UKH spearheaded a letter, which was signed by 170 business leaders, that outlined the sector would face an additional £914m in rates bills should the current relief end as planned on 31 March.
It warned should this happen, investment would be curtailed, employment opportunities squandered and there will be higher levels of business failure.
In the lead-up to the general election earlier this year, Labour’s manifesto outlined its five-point plan to “revamp” empty and boarded up pubs, including stamping out late payments alongside business rates reformation.
