This recent article from The Caterer shows growth through the hospitality sector. We have noticed that our hotel refurbishment projects have been increasing over the last few months. Our recents works have included large chains as well as bespoke boutiques throughout the UK. You can find our case studies here >
Consumer spending continued to decline in December 2018, with face-to-face expenditure falling by 1.6% while hospitality spend rose strongly.
Data from the Visa UK consumer spending index found overall spending fell by 1%, the strongest decline since April 2018. Face-to-face spending fell by 1.6% over the month, but was offset by a 0.5% increase in ecommerce spends.
However hospitality spend across restaurants, hotels and bars grew by 7.6% across the month – the joint-fastest increase for the sector in 20 months and the only assessed sector to grow sales.
European principal economist for Visa, Adolfo Laurenti, said: “The further decline in UK consumer spending in December 2018 is a disappointment, but not a surprise.
“Notwithstanding a backdrop of low unemployment and rising wages, households remained very cautious at the end of the year – as they were for most of 2018.
“An acceleration in spending at hotels, restaurants and bars (+7.6% year-on-year) suggests that some categories of discretionary spending are holding up better than the market as a whole. And the modest pickup in ecommerce point to the resilience of digital channels of distribution, a favourable long-term trend that recent woes have not derailed.”
