Cheers to that: Hospitality and Leisure sector showing steady signs of bouncing back
- Turnover in the H&L sector has increased by more than half since lockdown restrictions eased in April
- Positive signs of recovery across all sectors, as overall business turnover increases 70 per cent in June 2021, when compared with the same pre-pandemic period in 2019
As England moves out of the final stages of lockdown restrictions, recent figures taken from Barclays one million small business customers reveal that the hospitality and leisure sector is already showing steady signs of bouncing back, with turnover in the sector up by more than half (62 per cent) since some lockdown restrictions eased on April 12, when compared to the prior 12 weeks1.
Pubs and bars have seen a significant increase in revenue in the last three months, with turnover up almost 300 per cent (288 per cent). Hotels with restaurants have also seen more than a twofold increase in turnover (185 per cent), after restrictions eased.
Findings also reveal a continued positive long-term effect on take-away food shops and stalls, with turnover 5 per cent higher in the past 12 weeks.
The bank’s data shows positive signs for recovery for other sectors too, as overall business turnover in increased by 70 per cent in June 2021, when compared with the same period in 2019, pre-pandemic. Savanta’s UK Business Tracker has also revealed that more than three quarter of businesses (77 per cent) say that they are now confident in surviving the pandemic – up 5 per cent since April this year2.
Hannah Bernard, Head of Business Banking at Barclays, said: “The last year has been incredibly tough for all our business customers, with the pandemic testing their resilience more than ever before. Initial indicators from the last 12 weeks are really positive, and reveal that many hospitality businesses are starting to bounce back, with sporting events like the Euros and Wimbledon helping to boost turnover.
“However, we know that many businesses still have some way to go before they’re fully back on their feet and are back in financial health, and our relationship managers are primed to help with their recovery. Our number one priority over the next few months is to continue to help all businesses bounce back from the impact of this pandemic.”
Maurizio and Alessia Tarantello, owners of Maurizio’s, a family-owned Italian restaurant in Rickmansworth, said: “The impact on our business since March last year has been difficult. While our restaurant doors were shut, we opened for takeaway four days a week, but everything in the village was closed and we were just about bringing in enough to cover our staff’s wages. We were pleased to secure Covid funding through Barclays last year, which has helped us to pay incoming bills whilst the restaurant was unable to open.
“Reopening in April again was strange – nice but strange – as we were only able to seat four tables in the garden. Upon opening up further in May, we lost 60% of our capacity indoors because of social distancing. However, we’ve been fully booked up – especially on Friday and Saturday nights. We’re planning on going back up to 100% capacity on July 19 which will greatly help, but I think it’ll still take a little while for things to go ‘back to normal’. We’ve been at this restaurant for 22 years and know everyone in the area really well, so it’s been great seeing our customers again – they’ve all been so excited to come back.”
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Notes to Editors
1 Barclays data on business turnover is taken from Barclays one million Business Banking customers. Figures are from since lockdown easing (12 April), compared to 12 weeks prior.
2 The Savanta UK Business Tracker accessed by Barclays. Research was undertaken in April and May amongst over 750 businesses