Leisure rediscovered: New opportunities for post-lockdown hospitality
Hospitality and leisure businesses are springing back, as their customers explore new experiences and make new choices that are set to endure with the removal of restrictions.
The new pleasure principles
The hospitality and leisure sector has got its confidence back. In our Ready to Go Again report (PDF†) last year, despite the dire picture of Covid-related closures at that time, 98% of operators were positive about growth prospects for the summer of 2021 – and they have been proved right.
It has been a fraught period of limbo, but businesses have used the time wisely, adapting their business models and reshaping their offerings. Since restrictions began to lift in April, customers have returned, with a clear desire to make up for lost time. Operators have told us their revenue has jumped by an average of more than 25% over 2019 levels, and that increase is predicted to rise to a third over the remainder of 2021.
The distortion of market choice inflicted by the pandemic was the trigger for changes, but those who enjoy these new experiences could provide an expanded customer base in the longer term.
Our latest report explores how hospitality and leisure businesses are adapting their strategies to generate long-term gains from domestic consumers’ evolving tastes. Our research highlights three main strategies of success.