Since the first quarter of 2020 the leisure and hospitality sector, has been significantly affected by the covid pandemic. Due to the Governments ‘lockdown’ measures their ability to trade has been highly disrupted. After missing out on Easter and the two public holidays in May last year, there was some easing of restrictions last summer.
The Impact of Covid of Hospitality
In an attempt to throw a lifeline to the sector, the Chancellor announced the ‘Eat Out To Help Out’ initiative to stimulate consumer spending, pubs, hotels and restaurants. Whilst this offered a stimulus, operators still had to adhere to strict social distancing measures, reducing their capacity, as well as being subject to reduced trading hours. Businesses have also incurred significant costs in ensuring their establishments and staff practices are ‘Covid-Safe’.
2020 & New Year
As we progressed towards the end of the year with Covid 19 case rates increasing the government implemented a second lockdown in the hope that normality would return by Christmas. However this was not possible and there was only a relatively brief period of relaxation to permit private family gatherings; a devasting blow for operators missing out on what for many is their most lucrative period of the year of annual christmas parties cancelled across the country.
The Hospitality Sector in 2021
By the start of the new year we were entering a third period of lockdown and whilst a roadmap for a phased easing of restrictions was set out, outdoor hospitality was not allowed until April with a return to indoor trade not being permitted until May. It was then proposed that all final restrictions would be lifted on 19 July.
In view of the substantial progress made in the nationwide vaccination programme and the onset of the summer holidays there was a degree of optimism in the sector. However as restrictions have eased and we start to enter autumn now so too have case rates started to rise again. As a consequence people are starting to test positive and self isolate again. Inevitably this has resulted in a rise in staff absenteeism in the sector and there have been reports of pubs and restaurants having to close temporarily due to inadequate staff cover. Recruitment in the sector continues to be a challenge with many role unfilled as does the supply chain in some areas of the country.
Trusted Property Advice
In a period of uncertainty it is important to seek property advice from a trusted source. At CSD we have a knowledgeable, experienced team of commercial real estate valuers who have many years’ experience in the leisure and hospitality sector, who can provide pragmatic and impartial advice. Therefore we welcome the opportunity to assist you with your valuation needs.
This blog article was written by Peter Gregory our Senior Surveyor.
Whatever your requirements, our team have a broad range of knowledge and experience in the commercial sector. We’d be more than happy to discuss your individual requirements and offer our advice on the best course of action.
Please call our experienced and knowledgeable team on 0808 169 8881 or alternatively send us an email
Alternatively, you can find all our social media profiles below:
If you have enjoyed this article about the leisure and hospitality sector, and would like to learn more about the valuations and surveys, simply check out some of these related articles below:
Tags: hospitality, hotels, leisure, proeprty, pub, restaurant
This post was written by Liz Graney