The Savoy Educational Trust has warned that fewer grants will be awarded this year than last. The trust, which was founded 41 years ago by directors of the Savoy, is cutting its budget by £300,000. It blamed the economic climate and the events of 11 September for the cutbacks.
"We are having to refocus the trust. There has been a kneejerk reaction of cuts from the industry in response to 11 September.
"But companies must realise that those who maintain training and marketing budgets are the companies that end up on top in an economic downturn," said Julia Sibley, chief executive of the trust, in a speech to the HCIMA conference last week.
The trust has also had to axe its waiter of the year award, although it will continue to sponsor other industry awards.
Sibley added that the trust, which meets with industry representatives four times a year, is hoping to win back the £300,000 shortfall.
Source: Caterer & Hotelkeeper magazine, 26 September - 2 October 2002