With restrictions easing further on Monday, the 67% of pub and restaurant operators without outdoor space will finally be allowed to reopen.
Only 33% of venues have traded over the past month, according to the latest Market Recovery Monitor from CGA and AlixPartners, with just over 35,000 sites accommodating customers in outdoor areas.
READ: Pubs set to pull 3mln pints on 'Freedom Monday'
Indoor service will be welcome considering the dire weather forecast, while companies are pinning their hopes on pent-up demand and increased confidence as the vaccine rollout continues.
Meanwhile, the UK has lost 7.4% of hospitality businesses over the past year, as it counted 106,548 licensed premises at the end of April.
A huge positive step today for Hospitality.
Please remember though, with all these restrictions, the vast majority will barely break even.
We MUST continue on the roadmap set out.
21st June. 5 weeks and counting down.
— Sacha Lord (@Sacha_Lord) May 17, 2021
“Profitability in the sector remains a concern, however, and there is a bumpy road to recovery ahead,” said Graeme Smith, AlixPartners’ managing director.
“While some operators’ creative use of outdoor space served them relatively well over the past month, the large majority were unable to welcome back any guests or chose to remain closed. For those that did reopen, trading was beholden to the weather and many struggled to break even.”
Wagamama owner Restaurant Group (LON:RTN) shed 2% to 431.4p, while publican Mitchells & Butlers PLC (LON:MAB) and JD Wetherspoon PLC (LONL:JDW) dipped 1% to 311p and 1,334.83p respectively.