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Olympics and Paralympics cost pubs, restaurants and hotels £55m

By John Harrington , 16-Nov-2012

Related topics: General News

The Olympics and Paralympics cost UK pubs, restaurants and hotels £55m in lost revenue, although the decline was lower than initially expected, according to new research from food service consultancy Horizons.

London 2012 Olympics and Paralympics proved costly for the hospitality sector

London 2012 Olympics and Paralympics proved costly for the hospitality sector

The £78m decline outside the Olympics village was mitigated by an addition £23m of sales in and around Olympics venues.
The net decline of £55m was significantly lower than the £75m estimated by Horizons when the Games were awarded to London in 2005. Horizons also pointed out that the overall impact was equivalent to less than 0.1% of total UK eating out expenditure this year.
The £78m decline is broken down as -£27m in quick service restaurants, -£26m in other restaurants, -£11m in pubs and -£14m in hotels.
Horizons said: “Overall, London itself was an enormous winner demonstrating its friendliness and ability to put on a really great show. Hospitality also put on a great show with thousands of volunteer gamesmakers trained and there with a smile to help all.
“The range and quality of British restaurant and pub food was a strong feature – and one, no doubt, that will attract more visitors in the years to come.
“The foodservice trade also showed how well and quickly it could rise to the challenge of change – with night time deliveries, additional security checks and an array of foreign languages to contend with just a few of the additional challenges.”
Horizons said other particular winners were operators of the concession restaurants and fast food places around the Olympic Park, and contract caterers that operated inside the fence in the Olympic Park, and at other Olympics locations such as Weymouth for sailing and Eton Dorney for rowing.”
Among the “notable losers” were restaurants in the West End, wholesalers serving these restaurants, food kiosks in Oxford Street, food-led pubs around the country, and “hotels which sat back and waited for the Olympics bonanza”.

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