Over the last few years the UK leisure market has seen growth. This was a trend prior to COVID-19 that has been compounded due to recent events. Across the country, key location hotspots are seeing the benefits from staycactions. In recent months there has also been a rise in homeowners moving out of cities – the south west has been a hotspot for this. Historically the south west had a very condensed market with small number of regional operators, however this is starting to change with national operators looking to get involved in the locations.
The desirability of sites is very location specific and in the south west there is a clear line between the desirable locations and the less. With interest in coastal towns rising significantly. Demand from independent and small pub and restaurant operators is very strong and confidence in market is growing. Holiday parks have seen investment in their central facilities which gives the customer another option in case of poor weather and also provides the option to extend the season. And as demand for holiday accommodation in the South West continues to be robust the lack of supply has seen a rise in tariffs in line with the rise of occupancy.
Join Guy Ruddle and guests: Kevin Marsh, head of licensed leisure at Savills, Chris Sweeney, director in the leisure and trade team at Savills and James Greenslade, director in the hotel capital markets team at Savills discuss the changes that have been taking place in the South West, the impact of Covid-19, Brexit and changes in consumer behaviour. They also discuss how the sector is becoming more mainstream, what types of investors are interested in the market and what the future holds.
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