Hospitality Today Aug-Sep 2016 - Page 8

| Hospitality Today | Aug / Sept 2016

The hospitality market after the Brexit vote

VisitEngland has just released a survey showing that after a mixed performance over Easter , both accommodation and attractions businesses reported a net increase in visitors for the period up to mid July .
Business confidence about the summer holiday period was strong . In the accommodation sector , the number reporting forward bookings to be “ very good ” was at a record high for the survey , as was the proportion claiming to feel “ very confident ” about the summer .
Expectations of overall 2016 performance remain positive on balance , but optimism is more muted than in recent surveys .
Key findings on Brexit impacts and expectations were :
Only a minority of businesses have so far seen any referendum impacts ( mainly accommodation businesses ).
Impacts experienced to date are on balance positive for domestic visitors but slightly negative for overseas visitors
16 % of accommodation providers report an increase in enquiries or bookings ( a separate Tourism Alliance survey put this at 18 %)
Only 1-2 % have seen any actual cancellations ( the TA survey put this at 2 %)
Almost half of accommodation businesses believe that the referendum will have a positive impact on domestic visitor numbers
Most accommodation businesses don ’ t expect any impact on overseas visitor numbers - but among those who do , the balance of expectations is positive ( though sentiment is far more mixed than for the domestic market )
86 % of businesses strongly or slightly agree that it is too early to say what Brexit impacts will be .