The King’s Coronation is fast approaching, and this presents an excellent opportunity for businesses in the hospitality industry to increase their profits during the additional bank holiday weekend. Bank holidays are known to lead to a surge in demand for services such as hotels, pubs, restaurants, and bars as people take time off work to enjoy leisure activities.
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New research suggests that the cost-of-living crisis is affecting people’s spending habits on a night out. The latest Rekom Night Index reveals that 77.3% of Brits have reduced the number of late-night outings due to the crisis. To cut their socialising budgets, 35.1% of respondents said they pre-drink at home more often, while 32% said they spend less money in advance of a night out. Interestingly, in February 2023, going out to relieve day-to-day pressures and stress, and to share the experience on social media were higher priorities than they were three months ago. Read More
The coronation of His Majesty The King is a momentous occasion that deserves to be celebrated throughout the country.
The recent announcement by the Government to extend licensing hours for pubs, clubs, and bars over the bank holiday weekend is a timely boost for the pub industry, which will allow them to host special events and parties as part of the national celebrations… Allowing people to enjoy an extra pint or two in the evening and for families and friends to come together to wish the king a long and happy reign.
However, despite this, new research reveals that fewer than 8% of consumers plan to spend money on drinks in pubs and bars during the coronation weekend. The latest consumer spending tracker from Barclaycard also shows that many people are feeling less confident in their household finances and ability to spend on non-essential items.
While the extension to opening hours will help us all to mark this important event, it is important to recognise the challenges that many consumers face, including rising household bills and the need to save money.
Nonetheless, hospitality will remain at the heart of the celebrations, and venues will continue to play a central role in our communities during this historic event.
Recent research has shown that consumer value in pubs and bars has grown by 19%, with the average consumer spend increasing 4%. But is all as it seems?
As the spring/summer seasons approach, a busy calendar of events is on the horizon.
Managing a stadium or arena presents a unique set of challenges. Your security team must coordinate thousands of people and respond to any safety and security alerts. This makes robust communication solutions in these venues vital.
Managing warehouse & logistics presents a unique set of challenges. Your Fire and Security teams must coordinate key personnel and respond to any fire and security alerts. This makes robust communication solutions in these sites vital – whether you’re in a building that’s 2 million or 20k sq ft. Read More