AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Summary
- Sales at restaurants and pubs jumped as the British economy reopened, says Dojo research.
- Pubs, cafes, and restaurants have made many technological advancements during the pandemic period.
- They would continue to use these even after the pandemic gets over, reveals the survey.
An additional 23 per cent of restaurants were able to reopen on 17 May as compared to the previous week, according to the latest industry insight from Dojo. The restaurant spending rose 40 per cent on 17 May in comparison to the last Monday, revealed the research.
From 17 May, the hospitality venues were allowed to reopen their indoor dining after over five months of closure. Pubs and restaurants were re-opened earlier on 12 April, but only for outdoor venues. The spending levels for pubs soared 30 per cent on Monday, 17 May as compared to an average Monday in July 2020.
Knott, head - customer insights, Dojo, a card payment solution provider for small businesses with offices in London, Bristol, Hull, Belfast and Dublin, said that the hospitality sector was badly impacted during the lockdown period and it was great to see the sales going up once again as the restrictions are slowly lifted. Pubs, cafes and restaurants were forced to make various technological advancements such as being a part of Instagram Live cookalongs to stay afloat and keep connected with their loyal customers during the pandemic period, he added.
A recent Dojo survey of 300 small and medium hospitality owners and 500 avid restaurant customers across March and April revealed that the industry was smoothly shifting to the digital medium and 95 per cent restaurants were already offering order and pay to their customers. Around 88 per cent of the restaurants surveyed said that they would continue to offer digital menus even after the pandemic gets over. Around 83 per cent of customers surveyed preferred to use a mobile device while ordering from a restaurant.
Also Read: UK Reopens Indoor Hospitality – Two Stocks Worth Watching to Avoid FOMO
Let us now explore some hospitality stocks that have been the top value gainers on the London Stock Exchange today.
· Cake Box Holdings Plc (LON:CBOX)
UK-based firm Cake Box Holdings (market capitalisation: £130.74 million) retails confectionary items, breads, and cakes. Its stocks were trading at a value of GBX 284.00, up 4.41 per cent from its previous close at 8.51 AM on 24 May at the London Stock Exchange.
· The City Pub Group Plc (LON:CPC)
The leading pub chain (market capitalisation: £8.84 billion) owns 45 pubs across England and Wales. The company share price was hovering at GBX 129.50 at 10.01 AM on 24 May, higher by 2.78 per cent from its previous day’s close.
· InterContinental Hotels Group Plc (LON:IHG)
A constituent of the FTSE 100 index, the InterContinental Hotels Group (market capitalisation: £ 8.84 billion) is a UK-based multinational hospitality group. Its share price (LON: IHG) jumped 1.12 per cent to GBX 4,878.00 on Monday morning at 9.59 AM.
· Restaurant Group Plc (LON:RTN)
The RG chain (market capitalisation: £ 933.34 million) is one of Britain’s biggest hospitality businesses. The company stock was up 2.46 per cent to GBX 125.00 at 9.49 AM on Monday.
Also Read: What Is the Long-Term Future of Restaurants in the UK?
