Billion Pound Bonanza for Hospitality in May

The combination of the King’s Coronation, Eurovision and three bank holidays means hospitality is set for a bumper month, according to UKHospitality.

The long history of bank holidays providing a boost to footfall and sales, in addition to the first Coronation in 70 years and Eurovision being held in the UK, has contributed to the analysis by UKHospitality that hospitality is in store for an estimated boost of £1 billion.

The King’s Coronation bank holiday weekend alone is set to deliver an individual boost of £350 million to the sector.

The bumper month would come at a crucial time for a sector that is contending with a significant increase in energy costs, record food and drink inflation, continued staffing shortages and a fresh set of rail strikes.

UKHospitality Chief Executive Kate Nicholls said:

“May has the potential to be a historic month for the hospitality sector, which is set for one of its busiest times in recent memory.

“We know the British public turn out in their droves for big events and we expect the Coronation and Eurovision to be no different.

“Whether it’s the traditional street party to celebrate the King or a watch party in Liverpool for Eurovision, hospitality will be at the centre of both events and we anticipate this will translate to a huge uplift in sales for the sector.

“Bank holidays alone are always popular for eating and drinking out and staycations and combining this with two historic occasions is incredibly exciting for hospitality, at a time when the support of the public is absolutely essential to its survival.”