The hospitality industry was among the hardest hit by the recession, according to the insolvency profession, on the basis of hotel and restaurant business failures. A report by R3, the insolvency trade body, found that in the hotel and restaurant space, which it measured as one sector, 1.7% of businesses became insolvent during the recession – the highest of any business sector. It was followed by manufacturing, which saw 1.6% of businesses fail. In terms of the total number of insolvencies, the real estate industry was worst hit, with more than 12,000 insolvencies, followed by construction, which suffered 7,184. Hotels and restaurants were fifth on the list in terms of total failures, registering 2,448 insolvencies.