UKH estimated the industry could see a £1bn boost over this month, attributed to a combination of “big events” across the UK, such as the King’s coronation and the Eurovision song contest.
Nicholls said: “May has the potential to be a historic month for the hospitality sector, which is set for one of its busiest times in recent memory.
“We know the British public turn out in their droves for big events and we expect the coronation and Eurovision to be no different.”
According to the trade body’s figures, the King’s coronation bank holiday weekend alone is set to deliver a £350m push for the hospitality sector at a “crucial time”, as businesses contend with energy costs, record food and drink inflation, staffing shortages and a fresh set of rail strikes.
This comes as data from Greene King and Opinium last week revealed 27% of 18-to-34-year-olds had planned to visit a pub during the coronation bank holiday weekend, with the operator and brewer expecting to pull 1.8m pints across its 1,6000-strong managed estate.
In addition, recent figures from the British Beer & Pub Association (BBPA) predicted a £120m boost for pubs specifically across the coronation weekend with 62m pints pulled to toast King Charles III, with extended licensing hours put in place also in place.
Nicholls added: “Whether it’s the traditional street party to celebrate the King or a watch party in Liverpool for Eurovision, hospitality will be at the centre of both events and we anticipate this will translate to a huge uplift in sales for the sector.
“Bank holidays alone are always popular for eating and drinking out and staycations and combining this with two historic occasions is incredibly exciting for hospitality, at a time when the support of the public is absolutely essential to its survival.”