Hospitality sector cautious about potential summer staycation trading boom

By BigHospitality

- Last updated on GMT

Hospitality sector cautious about potential summer staycation trading boom

Related tags: Lumina Intelligence

Only a third of hospitality businesses believe they will have a strong summer’s trading on the back of the Government suggesting that people do not make plans to go abroad for their holidays this year, the latest Lumina Intelligence Hospitality Leaders Poll has found.

When asked how they would rate their summer trading prospects this year, 36% of business leaders from the pub, restaurant and QSR sector rated them as ‘good’ or ‘very good’ while 19% believed them to be ‘poor’ or ‘very poor’. Just under a third (31%), meanwhile, were undecided.
The predictions come as market analyst Mintel forecasts that Brits will spend around £7.1bn holidaying in the UK this summer – up 22% on 2019’s figure - with holidaymakers boosted by the vaccine rollout.

Confidence for the future in general is higher, however, with almost two thirds (61%) of respondents confident about the future of their business.

The survey of 289 respondents also found that only 29% of hospitality business leaders believe an anticipated change to national tiered restrictions​ will be helpful compared to former regional tiered restrictions, with 20% believing any change will not be helpful.

The Government’s changes to the Bounce Back Loan scheme​ to allow for earlier payment holidays has also been welcomed by the sector, with 63% of respondents agreeing that changes to the scheme is useful.

Lumina Intelligence’s weekly poll is created for BigHospitality, Restaurant, MCA, and The MA.

Related topics: Trends & Reports

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