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| 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.