Some good news for the Retail & Hospitality sector?

There's plenty of bad news and negative stories about the Retail and Hospitality sectors out there at the moment but there are still good and positive things happening. Here are a few things we have spotted.

Six Nations Boost

With Government imposed COVID restrictions gone, the Six Nations rugby tournament (arguably the best rugby tournament outside of the World Cup) is in full swing and having a positive impact on the sector. Stadiums are at capacity and now indoor socializing is unrestricted, things are starting to feel back to normal. For pubs and bars this has meant a welcome lift in footfall of 30% on the Calcutta Cup weekend. Sales of pints were up +169 compared to the average weekend. 

There are still several rounds of the tournament left, as well as various sporting tournaments and events this summer which will hopefully remain unrestricted, so there is hope that this boost in footfall and sales will continue back to pre-pandemic levels.

Omicron Hospitality and Leisure Grant

Have you got yours? It has been reported that there is over £550m of Omicron Hospitality and Leisure Grants available from Local Authorities which have not been claimed. 

The grants are available to businesses that offer in person services where the main service and activity takes place in a fixed rate paying premises in the hospitality leisure and accommodation sectors. There are limited exclusions but in certain circumstances grants of more than £12m can be claimed. 

Claims can be made through Local Authorities directly and must be submitted before the scheme closes on 18 March 2022. 

Travel Restrictions

Are becoming a thing of the past. For those leaving the UK and more importantly for those coming to the UK there is a loosening of restrictions by the UK Government as well as foreign Governments. The UK Government has removed all countries from the "red list" although the empty list still exists with the potential for countries to be added back on.

Passengers travelling to England who are fully vaccinated do not currently need to test before or after they arrive but must complete a passenger locator form. There are still testing requirements for those who are not fully vaccinated and quarantine restrictions only apply where a traveller tests positive. 

Current estimates suggest that tourist visits to the UK dropped from around 40 million in 2019 to 11 million in 2020 which a clear negative impact on the Retail and Hospitality sector. The good new is that the forecast for 2022 is that there will be 21 million visits with a spend of more than£16bn. Lets hope that prediction comes true.