Alan Thomas, UK CEO at Simply Business, one of the UK’s largest providers of small business insurance, commented on the positive effect the King’s Coronation will have on the UK hospitality industry:
“The King’s Coronation weekend will offer a vital cash injection for the hospitality sector, with pubs across the UK expecting a £120 million boost in sales – a welcome break after a challenging period. Data from the Beer and Pub Association predicts 62 million pints will be poured over the bank holiday weekend, an extra 17 million compared to normal.
“Few have been hit harder over the last few years than small hospitality businesses, who have lost £40,000 each on average due to the pandemic – almost double that of the average SME. Pubs continue to close at alarming rates – a staggering 1,800 since 2019 – and are at their lowest number on record.
“While the boost will be well received, more needs to be done to support the long term prosperity of the UK hospitality industry, and small businesses are looking to the government. Our publicans need support more than ever – there’s never been a better time to get down to your local to celebrate the Coronation.”
Contact: Ethan Day, Frank, ethanday@welcometofrank.com