Hospitality in the News - 1 October 2020

TW:thinkingdifferently

Stick or twist? Darwin famously said "It's not the strongest of the species that survives, nor the most intelligent that survives. It is the one most adaptable to change". In the face of COVID-19, which is impacting the Hospitality sector perhaps more than any other, hotel and leisure businesses are being increasingly creative in the ways they have been pivoting to drum up revenues. Pret a Manager has launched an "as much as you can drink" coffee subscription and citizenM is rolling out a very attractive pre-pay subscription service, whilst Hyatt is the latest brand to promote "work from Hotel" with its "Workcation" for those needing a break from working at home. With many businesses targeting the staycation market and offering outside F&B there is also likely to be a boom for anyone selling outdoor gas heaters as we head into the Autumn.

In other welcome news, the UK Govt has announced that the temporary reduction of VAT rates from 20% to 5% will remain in place until 31 March 2021, rather than 13 January.