Leisure snapshot

Leisure, as ever, remains a very exciting sector and one that is constantly evolving. It would be foolhardy to suggest that, with the easing of government support and the emergence of new headwinds, including labour shortages, rampant inflation and a cost of living crises, the sector is not going to continue to have its challenges, over the next few years, and that it will not be without its casualties.

However, there is much to be positive about. Many of the leading pub operators have reported strong post Covid recovery, in some cases to levels last seen before Covid, or even higher. The Pub investment market also continues to deliver, with Avison Young completing this month on the investment sale of 95 Brains pubs let to Marstons, at a sub 6% yield. Similar positive news has been reported by the leading budget health club operators, who report strong membership recovery, high usage alongside continued expansion and the holiday property sector continues apace fuelled by strong private equity interest and an appreciation of the low risk attaching to some of the income streams. Although there are challenging times ahead, the sector has shown remarkable resilience and a preparedness to embrace change to weather the storms.’’