365 Business Finance helping hotels and B&BS to maximise demand from local visitors.
43% of UK holidaymakers feel the pandemic has not impacted their desire for a staycation.
Throughout 2020, many hotel operators have found themselves in uncharted territory as the pandemic has ravaged the travel and hospitality sectors. While the government and health officials may advise UK residents on how to deal with the virus, there are still a number of unanswered questions facing hotels and B&B businesses across the country.
However, while international travel is restricted, UK holidaymakers are still interested in the prospect of domestic travel. 43% of respondents in a recent survey* felt that the pandemic had not affected their decision to take a vacation domestically – with the concept of a staycation close to home having already grown in popularity over the last five years.
Unsurprisingly, the constant threat of harsher restrictions being enforced in certain regions of the UK due to COVID, means many would rather not travel as far at this time in case of local lockdowns impacting public transport, pre-arranged travel plans and lengthy drives.
Hotels and B&Bs are looking to 365 Business Finance for flexible finance to help them refocus their marketing efforts to target local clientele, in order to overcome the impacts of COVID-19.
Managing Director at 365 Business Finance, Andrew Raphaely, said, “It’s more important than ever right now for hotels and B&Bs to rethink and revive their businesses in terms of audience and marketing efforts – as the needs of guests are changing, with more and more people wishing to book a relaxing or pampering hotel break within their local area.
“We are finding that hotels and B&Bs are taking out merchant cash advances with us to get ahead and make the most of the staycation trend, especially as hoteliers are making preparations now for the Christmas holidays.
“What makes our alternative finance so attractive is that businesses are only required to make repayments when their customers pay them, as a percentage of card sales, so in quieter times there is no need to worry about it having a negative impact on cashflow.”
365 Business Finance can help hotel and B&B businesses fund the extra time and resource needed to adapt their approach to current circumstances, promoting staycations to local customers in order to boost trade in a post-COVID world.
To find out how hotels and B&Bs can survive the pandemic, promote themselves and access business funding, read 365 Business Finance’s in-depth guide.
* Latest statistics from Statista regarding hotel industry trends in the UK due to COVID-19.