£4bn Loss Predicted for Hospitality Sector

Cambridge saw a 12% drop in weekly footfall last week and is suddenly much quieter than we would usually expect at this time of year. As I speak to many hospitality businesses they are seeing a high number of cancellations of dinners, parties and overnight stays. Estimates suggest this could be worth £4bn in festive business lost across the UK and the new ‘work from home’ directive that started this week is impacting the hospitality and retail sector this Christmas.

Consumer confidence is diminished and whilst businesses agree that the government  has to take a balanced approach, that protects society and the NHS, allows education to still be delivered, for us to meet socially for our wellbeing and allow where possible normal NHS services to continue the economy needs further support. 

UKHospitality, Cambridge BID, British BIDs, The BID Foundation, NightTime Industries Association and the Association of Town and City Management who together collectively represent over 100,000 hospitality businesses are calling for the UK’s hospitality sector to be given urgent financial support to soften the blow to Christmas trading from new COVID guidelines by redirecting unspent grants available to the sector or by introducing new alternatives such as a discretionary fund to be administered by local authorities.

I wrote a few weeks ago that I am in favour of Covid passports being used, we have invested in the technology so it should be used to protect staff and customers and is an encouragement for us all to keep our vaccinations and boosters up to date. 

Whilst our footfall is down, our roads continue to be busy as do our city car parks. I read with interest the various articles on the current congestion charge plans of the GCP, it would appear they’re proving to be unpopular, not only with car drivers but with employers concerned that workers will be put off by these measures. A transport solution that supports all modes of travel is what is required, more buses would be a good starting point.