Diamond Jubilee boost to hospitality businesses but hotels face a challenge

By Peter Ruddick , 21-May-2012
Last updated the 21-May-2012 at 16:25 GMT

Related topics: Business, Venues, Events & Awards, Trends & Reports, Restaurants, Hotels, Pubs & Bars

The upcoming Queen's Diamond Jubilee celebrations may provide a boost to hospitality businesses of a similar scale to the one enjoyed during the Royal Wedding last year but hotels may face a challenge to fill rooms, according to Priceaterhouse Coopers (PwC).

Pricewaterhouse Coopers (PwC) has said hospitality businesses may see a similar boost in trade to the Royal Wedding but hotels face a challenge

Pricewaterhouse Coopers (PwC) has said hospitality businesses may see a similar boost in trade to the Royal Wedding but hotels face a challenge

With less than two weeks to go until the double bank holiday weekend the professional services organisation has suggested a similar number of people could descend on the capital as took to the streets for Prince William's wedding last year.

PwC estimated the economic benefit to London from the nuptials was £107m and now say hospitality businesses could benefit again this year although there are other factors to take into account. 

"We believe that it’s going to be mainly about day trippers to the capital, visitors will come to see the flotilla and other celebrations and then head off home. Visitor numbers will also depend on the weather," Liz Hall, head of hospitality & leisure research at PwC said.

"Restaurants, bars and cafes are likely to benefit the most from the large crowds of visitors flocking to the capital. It should be a good weekend for London hotels, but not the golden prize many expect. The effect won’t be as big as it could be if the economic situation was stronger and people had more disposable income."

Hotel challenge

Hotels may, according to PwC, face a challenge in filling rooms greater than the challenge faced during the Royal Wedding - although the type of guest and average spend is likely to be similar.

"Looking back to the Royal Wedding last year, it was mainly hotels along the route that benefitted. If that is the case this time round, there are only about 10 hotels along the river between Battersea and Tower Bridge and not all of those hotels or rooms will have a river view," Hall said.

"There could also be an exodus as many look to take an extended holiday over the period, many may go abroad or leave London altogether and it is likely to deter the lucrative corporate business clientele, who spend most in hotels," she added.

Last week BigHospitality produced a special Ideas from your Peers feature exploring the various offers and promotions hospitality businesses were considering to take advantage of the Queen's Diamond Jubilee.

BigHighlights

60-Second Skill: Pouring champagne

60-Second Skill: Pouring champagne

As demonstrated at the Moet UK Sommelier of the Year competition, champagne pouring requires skills and knowledge....

Mark Poynton: Pearls of Wisdom

Mark Poynton: Pearls of Wisdom

The British chef-patron of the Michelin-starred Alimentum and star of Great British Menu Mark Poynton talks about...

Interview with Glendola Leisure's Alexander Salussolia
Small Talk

Alexander Salussolia on Silk & Grain, market niches and nurturing future talent

Managing director of Glendola Leisure Alexander Salussolia joined the company in 1992 as an area manager, before...

60-Second Skill: Using #foodporn to your advantage

60-Second Skill: Using #foodporn to your advantage

Customers posting pictures of your food on social media is a trend you can't escape, but by...

Hospitality openings: July 2014

Hospitality openings: July 2014

Our latest round of up of the hottest hospitality openings includes Dev Biswal's new Ambrette in Canterbury, Wahaca's...

Gallery: Belsfield Hotel re-launches with Laura Ashley interiors

Gallery: Belsfield Hotel re-launches with Laura Ashley interiors

Laura Ashley has partnered with the Belsfield Hotel in the Lake District, seeing it undergo a complete...

Find us on Facebook

Digital Edition - Restaurant Magazine

Access to the Restaurant Magazine digital edition