With the General Election looming, our Bristol office conducted a survey of Hotel, B&B and Pub owners across the South West to gage their views on the impact a change in government might have on their business. Here’s an overview of some of the findings.
40% of those who responded think that a conservative-led government will result in a steady improvement and 10 % even better. In stark contrast, only 20 % think that a Labour lead government would result in no change, which means that 80% think it a change to Labour could have a negative impact on their business.
On the results Simon Wells, Director, Hotels, Colliers International in Bristol, said: “Given that the audience for this survey is a group of independent business people in mainly rural areas, it is not surprising that they are looking for the party that supports business. They say that the Election is going to be tight, but based on this evidence alone, it looks cut and dry.
“We also asked how trade had been in recent months and what 2015 bookings were looking like. I’m pleased to say that on the back of better occupancy and room rates, the news is good as the situation seems to be improving. I’m also pleased to report that on the back of improving business and the return of bank funding to the sector, sales of hotels, pubs and B&Bs are up with some attractive prices being achieved. Foreign investors are a key part of the equation, as are the changes to Pension rules. With the pensions legislation coming in to force in April, those 55 and over are considering news how best to invest their pension pot and we expect this to have a tangible impact on the hospitality market over the next 12 months.”