Restaurant spend grows 58%

Since indoor service resumed across much of the UK, consumer spend at restaurants has grown 58%, with in-venue revenues up 95%.

Total hospitality revenues across the sector up 43% week-on-week, according to Barclaycard's latest figures.

Pent-up demand for eating and drinking indoors, especially given the cold and wet weather this month, has caused the hospitality sector to rise above pre-pandemic levels, with the total amount spent up 8.6% compared to the same period in 2019.

Even with the increased capacity, the demand for tables is likely to exceed supply: a recent Barclaycard Payments SME Barometer reveals the majority of hospitality and leisure businesses that take bookings expect that customers will need to book at least five days in advance to secure a reservation this summer.

In preparation, SMEs have invested an average of £5,551 to become Covid-secure for their reopening.

"The reopening of indoor hospitality venues has brought the welcome sound of ringing tills to restaurants, pubs and bars across the country," says Rob Cameron, CEO of Barclaycard Payments. 

"I’m delighted to see that transaction values have even risen above 2019 levels, thanks to our pent-up demand for going out to spend time with friends and family.”

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