UK Tourism Dynamics Seizing opportunities in your region - Barclays Corporate
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UK Tourism Dynamics Seizing opportunities in your region
Contents
3 Section one: Introduction 8 Section two: Focusing on London
4 Emerging economies 10 Domestic tourism spend on retail
5 Enjoying the ‘staycation’ 11 Overseas tourism spend on retail
6 Total expenditure breakdown 12 Domestic tourism spend on hospitality and leisure
7 UK regional performance 13 Overseas tourism spend on hospitality and leisure
14 Exploring London
16 Section three: Considerations for success
17 Case study: Corinthia Hotel London
18 Section four: Key takeaways
This report has been produced by Conlumino for Barclays.
All content has been researched, developed and produced by Conlumino
at the request of Barclays for the purpose of this report. All charts, data
and statistics featured in this report are the product of this research.
All rights reserved. May 2014
Conlumino
www.conlumino.com
neil@conlumino.com
T: 020 7936 6655
2 of 19
Section one: Introduction
The UK’s impressive heritage and enthusiasm for contemporary culture
make it an attractive destination for the world’s tourists. By 2017, total
expenditure by domestic and overseas tourists is expected to increase
by 27% to just over £135.5bn.
Overseas tourism spend is anticipated to rise at a faster There is further evidence of optimism around the retail, We hope that you will find this report insightful, and that
rate (33.6%) than domestic (25.3%) across the UK’s retail, hospitality and leisure sectors, with increased investment it will support you in considering how you can maximise
hospitality and leisure industries. in developments predicted in the coming years, including the opportunities afforded through UK tourism.
in typically less prosperous areas of the UK.
Expenditure on retail goods by overseas tourists is set
to rise 36.3% to over £9.3bn by 2017, while overseas
tourist spend on hospitality and leisure is set to rise by
33% to £14.7bn in the same period. Wealthy consumers
from emerging economies such as Asia and the Middle
East will largely drive this growth, as well as the increasing
disposable incomes of the middle classes from developing
£135.5bn
Anticipated total spend by domestic
markets and Eastern Europe. and overseas tourists across the
By 2017, domestic tourist expenditure on hospitality and UK by 2017
leisure is set to grow to almost £69bn, and domestic Richard Lowe Mike Saul
This report analyses how tourists are spending their money Head of Retail Head of Hospitality
tourist spending on retail goods is set to reach £15.6bn.
in the UK, across both retail and leisure destinations, with & Wholesale & Leisure
Whilst online and mobile retail continues to pose a an in-depth focus on your region. The report also proposes
threat to high-street profits, consumers have shown strategies that retailers and leisure operators may want to
increasing willingness to spend on small indulgences, consider when tailoring their services to ever-evolving
such as dining out and visiting leisure attractions. domestic and overseas audiences.
3 of 19Emerging economies
Growth in expenditure by overseas tourists in the UK is set to outperform
domestic tourist expenditure growth between 2013 and 2017. Total overseas
tourist expenditure will grow 33.6%, against a growth of domestic tourist
expenditure of 25.3%.
This increase in overseas tourist expenditure growth will be Top ten overseas nationalities by proportion of tourism expenditure in the UK
driven primarily by tourists from emerging countries. While
2013 2017
the USA, France and Germany will continue to represent the
three highest spending countries in 2017, the key growth 12.3% USA USA 10.8%
£2,497m £2,926m
sources will be the UAE, China and Russia.
7.6% France France 6.6%
London remains the destination of choice for visitors from £1,543m £1,798m
emerging economies. Even those that plan to extend their 6.4% 6.2%
Germany Germany
travels further afield, across the UK and even mainland £1,290m £1,668m
Europe, tend to view the city as an ideal base – reflecting its 5.3% 5.0%
Australia Australia
distinct appeal and convenient travel infrastructure. £1,074m £1,356m
3.8% Irish Republic China 3.7%
£773m £1,011m
3.7% Spain Irish Republic 2.9%
£754m £774m
3.7% Italy UAE 2.8%
£744m £756m
3.0% Netherlands Italy 2.8%
£611m £753m
2.9% Canada Spain 2.8%
£577m £750m
2.7% China Russia 2.8%
£549m £750m
The right-hand side of the chart displays the projected figures for 2017. The dark blue numbers represent that country’s percentage of the total UK overseas
tourist expenditure.
Source: ONS, Visit Britain.
4 of 19Enjoying the ‘staycation’
London remains the top tourist destination in the UK, as a result of its heritage
sites, vibrant nightlife, strong dining scene, and almost unrivalled retail offering.
However, an uplift in domestic tourism is helping other UK regions to gain
popularity amongst native daytrippers and vacationers alike.
Across the UK, domestic tourist expenditure is set to Total tourist expenditure (£m) in the UK and growth
grow by an impressive 25.3% to over £108bn by 2017. between 2013-2017
The domestic market has certainly benefited from the
trend towards ‘staycations’, with financially pressured UK
consumers opting for domestic holiday opportunities over £20,260m
travelling abroad. +33.6%
While the nation’s improving economic outlook will lead
£27,065m
to a gradual rise in the number of consumers looking to Overseas
holiday abroad again, it is unlikely to precipitate a return
to the holidaying habits that preceded the economic
downturn.
£86,539m
+25.3%
£108,474m
Domestic
2013 2017
Please note that overseas expenditure excludes airline costs. Domestic expenditure includes both overnight stays and daytrips.
5 of 19Total expenditure breakdown
Tourism is set to generate increased revenue for both retail and
leisure operators by 2017.
When looking at the breakdown of spend on retail, Breakdown of overseas tourist spend
overseas tourists are expected to increase their
expenditure on both fashion and home goods by
approximately 38%, whereas sales of electrical are
anticipated to fall by 29%. This boost in fashion and
home sales may be supported by the continuing
popularity of ‘Brand Britain’, as well as the cheaper cost 33.8% 54.6% 34.5% 54.4%
2013 2017
of some premium fashion items, in comparison to their £6,857m £11,064m £9,346m £14,713m
international pricing in a number of countries. Overall
domestic expenditure on retail will also rise, as a number Hospitality and leisure
Retail
of UK residents travel in-country for shopping
Other
opportunities.
A strong performance for the leisure industry
Breakdown of domestic tourist spend
The hospitality and leisure sector is also positioned to see
the positive effects of overseas tourism, with spending on
accommodation growing by 32.8%, dining out by 33.5%
and leisure attractions by 32.2%. In addition, spending on
hospitality and leisure by domestic tourists is expected to
rise over the same period. 63.6%
14.6% 2013 63.2% 14.4% 2017
£12,624m £54,674m £15,579m £68,964m
The sector is expected to see a 26.1% increase in total
domestic expenditure, with the leisure attractions Hospitality and leisure
sub-sector forecast to see the most growth (27.1%). Retail
Other
These charts show the proportion of total overseas and domestic tourist spend in the UK that is made on hospitality and leisure, retail and other,
for 2013-2017. ‘Other’ includes spends such as on transport services.
Sources: ONS, Visit Britain.
6 of 19UK regional performance
Aside from London, UK regions that boast strong, differentiated attractions
and focused marketing are outperforming other areas that are yet to develop
targeted tourist strategies.
Scotland, for example, is set for a spectacular 39.8% Wales is also predicted to experience a high expenditure Planet, who named Wales’ Coastal Path as the number
growth in expenditure by international tourists by 2017, growth rate by 2017, perhaps as a result of its recent one destination in their “Best in Travel 2012”, ahead of
taking total overseas tourist spending for the country to investment in its retail and leisure offering. Interest from exotic locations such as Borneo and La Ruta Maya.*
nearly £2.3bn. Investment by Visit Scotland in European overseas visitors has also been encouraged by Lonely
markets has ensured that the country maintains a high
number of visitors from the EU, with Scotland receiving Regional proportions of total overseas tourist expenditure (£m)
international recognition for its natural scenery, abundant
2013 2017
wildlife and a thriving cultural scene.
54.9% London London 56.0%
£11,132m £15,144m
Conversely, the North East has struggled to effectively
10.3% South East South East 9.7%
market its strengths around natural scenery and cultural £2,088m £2,628m
heritage and consequently has found it difficult to get its 8.1% 8.5%
£1,636m Scotland Scotland
voice heard above more high-profile neighbours, such as £2,288m
Yorkshire and Scotland. 5.4% South West South West 5.3%
£1,102m £1,447m
The benefits of effective marketing and investment 5.2% 4.9%
Midlands Midlands £1,320m
£1,044m
Northern Ireland ranks last in share of both overseas and 4.8% North West North West 4.6%
domestic expenditure amongst the regions. This may £976m £1,232m
be because tourists are more likely to daytrip within 4.3% East of England
4.3%
East of England £1,161m
£874m
mainland UK. Although share of total expenditure will
3.9% Yorkshire & North East Yorkshire & North East 3.6%
remain steady, spending within Northern Ireland is actually £792m £987m
increasing at one of the fastest rates across the UK, 1.9% 2.0%
Wales Wales
potentially as a result of improvements in the region’s £381m £544m
marketing to tourists and recently unveiled attractions. 1.2% Northern Ireland Northern Ireland 1.2%
£236m £314m
The left-hand side of the chart shows the ranking of regions by overseas tourist expenditure in 2013, with dark blue numbers displaying the proportion of
total overseas tourist expenditure in the UK that these regions represent. The charts on the right display these figures for 2017.
*Lonely Planet’s Best in Travel: top regions for 2012. Source: ONS, Visit Britain.
7 of 19Section two: Focusing on London
London remains the destination of choice for both domestic and overseas
tourists to the UK. Overseas tourist spend is set to increase by 36%, and
domestic tourism spend should increase by 24.7% by 2017.
With some of the world’s busiest airports and railway Although growing steadily in terms of expenditure,
networks, it is perhaps unsurprising that London’s tourist London’s share of domestic tourism is expected to
trade is set to go from strength to strength between now decrease within the total UK market by 2017. This may be
and 2017. Iconic locations, impressive marketing and a a result of increasing prices in the city, or perhaps more
multicultural community all add to the global depiction positively, it may depict the impact of increased efforts
of London as one of the world’s most vibrant cities, amongst the UK’s regions to attract tourists away from
encouraging an array of international and UK-based visitors. the capital city.
Overall tourist spending: 2013-17 Overseas tourist spending: 2013-17 Domestic tourist spending: 2013-17
2013 Growth 2013-17 Growth 2013-17
2017 Percentage of total overseas tourist spending in the UK Percentage of total domestic tourist spending in the UK
+36.0% +24.7% +36.0% +24.7%
£17,535m £15,144m £16,833m £17,535m
£13,932m £15,871m
£15,144m £12,876m £14,916m
£14,058m £14,058m
£11,889m
£11,132m
£11,132m
55.25% 55.66% 55.96%
54.95% 54.80%
16.24% 16.22% 16.28% 16.31% 16.16%
Overseas Domestic 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017
Overseas expenditure excludes airline costs. Domestic expenditure includes Percentages show the proportion of total UK overseas and domestic tourist spend in £m made in this region. Please note that domestic spend includes both
both overnight stays and daytrips. overnight stays and daytrips.
8 of 19Focusing on London
In 2017, overseas tourists are expected to spend £15.1bn in London,
representing 56% of total overseas tourist spend in the UK. One factor driving
this trend is growth in the middle classes in emerging economies, with many
of these affluent individuals expected to visit London.
The easing of visa requirements for visitors from the Top ten overseas nationalities visiting London, by expenditure
UAE, Oman and Qatar in early 2014, and the expected
2013 2017
extension to Kuwaiti nationals in 2015, should provide a
major boost to the UK’s tourist industry, particularly in 13.7% USA USA 11.9%
£1,527m £1,795m
London. Visitors from these nations have some of the
highest expenditure per visitor. Tourists from the UAE are 6.3% France France 5.3%
£1,696m £798m
expected to spend £448m in London in 2017 – an increase
of 73% compared to 2013. 4.5% Australia Australia 4.2%
£505m £635m
Competition from other European and Asian destinations
4.3% Germany Germany 3.7%
and the effects of the recession resulted in a decline of US £478m £567m
tourists; however, the 2012 London Olympics encouraged
4.0% Italy China 3.5%
these numbers to rise again. Americans were the highest £447m £525m
spenders of all international tourists in London in 2013,
3.2% Spain Russia 3.3%
boosting the local economy by over £1.5bn. £360m £502m
2.7% Switzerland Italy 3.0%
£300m £459m
2.5% Canada UAE 3.0%
£283m £448m
2.5% China Brazil 2.6%
£280m £393m
2.3% UAE Spain 2.4%
£259m £363m
The right-hand side of the chart displays the projected figures for 2017. The dark blue numbers represent that country’s percentage of this region’s total
overseas tourist expenditure.
Source: ONS, Visit Britain.
9 of 19London: Domestic tourism spend on retail
Total domestic tourist expenditure on retail goods in London is predicted to
increase to £2.8bn by 2017.
By 2017, the proportion of domestic tourist expenditure Domestic tourist spending: retail
on retail goods within London will remain reasonably flat
on 2013, despite an actual increase in the total value 15.9% 16.0%
£2,334m £2,806m
of spending.
The recent economic downturn led to consumers moving
away from the mid-market and opting for either value
2013 2017
goods or premium items. The predicted increase in actual
expenditure could indicate that retail’s mid-market will
continue to shrink in the coming years.
It is not surprising that electrical retail sales are expected
to decrease on the high street, given the level of online
price competition surrounding the industry. Retail and wholesale Other domestic tourist spending
Other retail sales are set to increase, including rising sales The above charts show the proportion of total domestic tourist spend in the region that is made on retail, for 2013 and 2017.
of luxury food and drink – with London benefiting from
popular food retail destinations such as Fortnum & Mason
Total domestic tourist spending (£m) and growth on retail goods, by category
and the food halls at Harrods, John Lewis and Selfridges.
Fashion 774 1,017 +31.3%
retail
Home 278 403 +45.1%
retail
Electricals 158 212 -25.7%
retail
Other 970 1,227 +26.6%
2013 2017
10 of 19London: Overseas tourism spend on retail
By 2017, total overseas tourist expenditure on retail goods in London is
predicted to reach £5.83bn.
This anticipated increase in expenditure from overseas Overseas tourist spending: retail
tourists highlights that London will continue to be a top
retail destination for international visitors. 37.7% 38.5%
£4,202m £5,830m
Given that some premium goods remain at particularly high
prices in countries such as Brazil, China and the Middle
East, London’s high-value retailers may reap the benefits
2013 2017
of wealthy overseas visitors enjoying the UK’s lower prices.
The home retail sector may also profit from the rise in
‘Brand Britain’, with British-made homeware remaining
popular amongst overseas tourists. As such, retailers could
start to think about how best to advertise their home retail
products for maximum effect in the coming years. Retail and wholesale Other overseas tourist spending
The above charts show the proportion of total overseas tourist spend in the region that is made on retail, for 2013 and 2017.
Total overseas tourist spending (£m) and growth on retail goods, by category
Fashion 2,697 3,786 +40.4%
retail
Home 511 712 +39.4%
retail
Electricals 45 67 -32.7%
retail
Other 926 1,287 +39.0%
2013 2017
11 of 19London: Domestic tourism spend on hospitality and leisure
Total expenditure on hospitality and leisure by domestic tourists in London
is set to rise to £11.2bn by 2017.
Domestic tourist spend will continue to be highest on Domestic tourist spending: hospitality and leisure
leisure attractions and eating out. Lower growth in
63.8% 64.0%
expenditure on accommodation could be due to the
£8,965m £11,222m
number of domestic tourists visiting London on day trips.
As the UK’s rail and airline infrastructure improves, to
and from London, the city may expect to see reduced
2013 2017
spending on accommodation from domestic tourists.
As such, accommodation providers may want to consider
how they are marketing their hotels to residents outside
of the UK for maximum effect.
Hospitality and leisure Other domestic tourist spending
The above charts show the proportion of total domestic tourist spend in the region that is made on hospitality and leisure, for 2013 and 2017.
Total domestic tourist spending (£m) and growth in hospitality and leisure, by category
Eating out 4,913 6,172 +25.6%
Accommodation 1,537 1,859 +20.9%
Leisure 2,515 3,191 +26.9%
attractions
2013 2017
12 of 19London: Overseas tourism spend on hospitality and leisure
Overseas tourism spending across the hospitality and leisure sector in
London is anticipated to rise to over £7.8bn by 2017.
As a renowned tourist destination of choice, for both Overseas tourist spending: hospitality and leisure
overseas and domestic visitors, it is no surprise that
52.2% 51.8%
spending across London’s hospitality and leisure sector
£5,813m £7,845m
is predicted to increase.
Although hospitality and leisure attractions are expected to
maintain the majority share of overseas tourist spend in 2017,
2013 2017
it is interesting that the proportion of total overseas tourist
spend on the sector is due to dip by 0.4%. This could indicate
that overseas tourists are visiting London for good-value
shopping opportunities, as well as a chance to see the sights.
London holds a very strong position on the world’s stage,
and has undeniably benefited from the recent London Hospitality and leisure Other overseas tourist spending
Olympic Games, which brought global attention to the
The above charts show the proportion of total overseas tourist spend in the region that is made on hospitality and leisure, for 2013 and 2017.
city’s hospitality and leisure offerings. In a competitive
marketplace, operators in the sector must ensure that
they are marketing their services appropriately to keep
attracting new and repeat visitors. Total overseas tourist spending (£m) and growth in hospitality and leisure, by category
Eating out 2,214 2,999 +35.4%
Accommodation 2,616 3,544 +35.5%
Leisure 983 1,302 +32.5%
attractions
2013 2017
13 of 19Exploring London
London is home to world-class museums and galleries, a vibrant nightlife,
an extensive and varied dining scene with 65 Michelin-starred restaurants,
and some of Europe’s top sporting and entertainment venues.
The pinnacle of the UK’s tourist industry
Population: c. 8.2 million*
From quirky independent shops and markets, to the
Overseas visitors: c. 15.5 million**
giant Westfield Centres in Shepherd’s Bush and Stratford,
Key attractions: Tower of London and the world-renowned West End destinations of Oxford
Museums and galleries Street, Regent Street, Knightsbridge and Bond Street,
The London Eye London is also one of the world’s premier retail
The Houses of Parliament destinations.
Covent Garden
Significant retail and leisure investments
Harrods
to support growth
Buckingham Palace
London has always been a magnet for investment and
the coming years are set to be no exception. For example,
in South London, Westfield and Hammerson are preparing
for the £1bn regeneration of the Whitgift Centre. Expected
to be completed in 2018, the development is set to
include 1.5 million square feet of retail space, as well as
restaurants, a bowling alley and a multi-screen cinema.
In Battersea, proposals for the long-awaited redevelopment
of Battersea Power Station are in discussion. The £8bn
project is envisaged to feature new homes, shops, a library
and a hotel and leisure centre, while a Northern Line
extension is set to improve the area’s transport links to
the city.
*2011 census
**2012 figure
http://www.visitbritain.org/insightsandstatistics/inboundvisitorstatistics/
regions/towns.aspx
14 of 19London’s pre-eminence is set to become more
ingrained
The scale of investment in London’s retail and leisure
scene dwarfs that of any other region of the UK. Stratford,
previously seen as an area in decline, has undergone
significant regeneration as a result of the 2012 London
Olympics, and plans for Battersea and Croydon should
help to boost levels of tourism in the south of London.
The capital city is also likely to be the main beneficiary of
eased visa requirements for a number of countries, including
Brazil and members of the Gulf Co-operation Council.
£8bn
Envisaged for the redevelopment
of Battersea Power Station
Improved infrastructure to strengthen London’s
tourist market
Initiatives such as Crossrail will connect East and West
London like never before. Together with the Thames
Clipper, the widening of the DLR and Overground networks,
as well as proposed 24-hour underground services,
London’s infrastructure will be a key driver in the city’s
ever-growing tourist industry. These transport links are also
expected to encourage the general bustle of visitors – often
found in the West End’s theatre and shopping districts – to
consider visiting the contemporary, fashionable emerging
areas of East London, as well as lesser known parts of
South London.
15 of 19Section three: Considerations for success
There are a number of strategies that retail, hospitality and leisure operators
could consider in order to attract a higher volume of tourists.
Common strategies
Know your audience
Hospitality & Leisure • Talk to your audience in the channels they use, whether
it is social media, advertising, or television and radio
Selling tickets • Tailor your social media and online services to different
• Attractions requiring tickets should international audiences, considering multiple languages
consider how visitors are able to purchase and cultural interests
in advance, which may be a simple way to • Proactively monitor foreign exchange rates, to ensure
secure footfall. that campaigns are launched at optimal times, when
particular overseas visitors are more likely to come to Retail & Wholesale
Brochures and marketing communications the UK.
• Brochures aimed at overseas tourists Ease of purchase
should consider local tastes, preferences and Strategic marketing • Appropriate payment options are a key
requirements – this could mean producing • Consider location-based advertising, such as in consideration. For example, Union Pay
a number of subtly different campaigns airports, train stations or nearby ports is particularly important to Chinese consumers
for a variety of nationalities. • Actively manage your media relations strategy and is something companies could offer if they
• Work with local tourist offices wish to maximise potential spending.
• Engage with in-flight publications or hotel lobbies.
‘Brand Britain’
Working in partnership • British-made goods remain popular amongst
• Retailers and leisure operators may find collaboration overseas consumers. Retailers may want to
mutually beneficial. For example, hoteliers may look to consider how they are marketing their
advertise nearby shopping areas and restaurants, or products to an audience eager for
even use local products throughout the building. ‘Brand Britain’.
16 of 19Case study: Corinthia Hotel London
Corinthia Hotel London has grown from strength to strength since its
opening in 2011, and owes its success to understanding its customer base,
as well as celebrating its local surroundings.
As a five-star hotel in London with just under 300 Dynamic marketing Dixon admits that the hotel’s nascent UK brand has allowed
bedrooms, Corinthia Hotel London might be mistaken it to be more flexible and bespoke when attracting attention
for a company with a long-established brand image and Marketing is key in successfully targeting Corinthia’s from customers and the media. Building the brand from a
history within the capital. Matthew Dixon, the hotel’s different audiences. In the USA, the hotel advertises in low awareness has allowed Corinthia to be slightly bolder
General Manager, explains how the somewhat unknown specific leisure publications, and deploys more innovative than some of its more established competitors, helping it
leisure business has, within the last three years, developed approaches, such as screening small-scale 3D movies in to stand out in the busy London market.
effective business strategies to build its brand and ensure Hollywood, which take viewers on a virtual tour of their
success in a crowded market. London building. Making the most of your location
Understanding your audience Search engines and travel review websites allow everyday Situated near Trafalgar Square, Corinthia Hotel London
consumers to rate the establishment, and as such the does not share the Mayfair location of many of its five-star
“Understanding your client demographic is essential,” hotel monitors online ratings with a dedicated social- competitors; however, Dixon sees this as an opportunity.
states Dixon. “We track which particular nationalities are media manager who attempts to respond to every online “We currently engage with the Business Improvement
visiting our hotel on a regular basis, and identify how our review, engaging with visitors on a more personal level. District, which allows us to collaborate with local retail,
clients prefer to book with us.” infrastructure and leisure projects – ensuring that we make
the most of our local community and keep attracting
The hotel has identified the nationalities which make up tourists from all areas, especially the local UK market.”
the bulk of its customer base, and targeting these various
audiences requires different techniques to encourage Indeed, this collaboration ensures that consumers are
reservations: in North America, for example, three aware of the array of facilities on the North Bank, as well
dedicated sales managers work in-country to profile the as encouraging tourism and generally improving the local
brand with potential visitors. Matthew Dixon takes a environment. By working with retailers and leisure
tailored approach to his interactions with the Middle East, operators alike, Corinthia is able to reap the mutual
ensuring he personally attends networking events to benefits of investing in its surroundings.
build word of mouth, whereas in China and Russia he
recognises more traditional consumer patterns, with With an impressive location, luxurious facilities and an
travellers booking through UK-based agents. emerging brand, Corinthia is excited about what the next
decade will bring, and looks forward to getting to know its
developing client base even further.
17 of 19Section four: Key takeaways
• By 2017, total expenditure by domestic and overseas tourists across the UK is expected to increase by
27%, to just over £135.5bn
• Domestic tourists continue to enjoy the ‘staycation’ across the UK, and competition for visitors is
increasing between the regions
• Mobile and online purchases continue to challenge high-street retailers; however, domestic tourists
seem to be willing to spend in store on luxury items
• Premium retail remains a key draw for some overseas visitors seeking the UK’s lower prices
• Businesses should understand their audience to ensure that their service and marketing approach
suit the needs of their most frequent visitors
• Effective marketing, including the use of social media channels, is essential for a region’s success
within the UK’s wider tourism market, but should also be a key consideration for individual businesses
• When working together, both retailers and leisure operators can reap the benefits of tourist trade.
To find out more about how Barclays can support your business,
please call 0800 015 4242* or visit barclays.com/corporatebanking
*To maintain a high quality of service, your call may be monitored or recorded for training and security purposes. Calls to 0800 numbers are free of charge,
when calling from a UK landline. Charges may apply when using a mobile phone or when calling from abroad. Lines are open from 8am to 6pm Monday to Friday.
18 of 19About the authors
For further information and to find out how our sector
specialist teams can support your business, please
contact Richard Lowe, Head of Retail & Wholesale,
or Mike Saul, Head of Hospitality & Leisure.
Richard Lowe
Head of Retail & Wholesale
T: +44 (0) 7775 540 802
richard.lowe@barclays.com
Mike Saul
Head of Hospitality & Leisure
T: +44 (0) 7775 540 800
mike.saul@barclays.com
Please note: these are mobile phone numbers and calls will be charged in accordance with your mobile tariff.
No part of this publication may be reproduced or stored in a retrieval system, in any form or by any means, electrical, mechanical, photocopying or otherwise, without the prior consent of the publishers. The views and forecasts presented
in this report represent independent findings and conclusions drawn from a study by Conlumino. Conlumino can accept no responsibility for any investment decision made on the basis of this information or for any omissions or
inaccuracies that may be contained in this report. This report has been produced in good faith and independently of any operator or supplier to the industry. We trust that it will be of significant value to all readers.
The views expressed in this report are the views of third parties, and do not necessarily reflect the views of Barclays Bank PLC nor should they be taken as statements of policy or intent of Barclays Bank PLC. Barclays Bank PLC takes
no responsibility for the veracity of information contained in third party narrative and no warranties or undertakings of any kind, whether expressed or implied, regarding the accuracy or completeness of the information given.
Barclays Bank PLC takes no liability for the impact of any decisions made based on information contained and views expressed in any third party guides or articles.
Barclays is a trading name of Barclays Bank PLC and its subsidiaries. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority
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May 2014.
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