Hospitality and leisure sector: a long road to recovery?
14 August 2020 09:30
On demand recording of Quantuma webinar - Hospitality and leisure sector: a long road to recovery?
As the UK is eased out of lockdown, many sectors have started to open their doors to the public. However, the hospitality and leisure sector has remained, in most parts, at a standstill with reports from last month stating that sales are expected to be down by 56% this year compared to last, reducing revenues by £73 billion. This, coupled with the fact that parts of Europe are now experiencing a possible second wave of Coronavirus (COVID-19) and considering reinstating lockdowns, the sector faces a long road to recovery.
Our experts take a look at various scenarios faced by many businesses operating in this sector, providing advice in relation to what they can do now and in the coming months to prepare for some challenging trading conditions.
The discussion considered:
- The current status of the sector, highlighting which parts have seen the greatest impact
- Measures introduced and more proposed by the UK Government to support the sector
- What businesses in the hospitality and leisure sector are doing to diversify their offering, looking at whether digital channels could be used to reinvigorate its recovery
- Options available for businesses to prepare for the future
The webinar was presented by Simon Bonney - a managing director in our Restructuring and Insolvency team and Philip Shepherd, an independent strategy consultant with significant expertise in the hospitality and leisure sectors.