Welsh hospitality businesses enjoy boosted profits

Hospitality businesses in Wales have reported their busiest year to date in a new report by Colliers International.

The research found that the hospitality sector has seen increased activity, especially in the hotel market, with the property specialist having signed off sales for the Llanwenarth Hotel near Abergavenny, Slebech Park in Pembrokeshire, and the Dragon Hotel in Montgomery. Furthermore, Colliers revealed that it has completed development monitoring work on new leisure facilities at Croft Holiday Park, worth around £1.1 million. As part of this project, the existing bar and restaurant will be refurbished, while a new saltwater health spa will be built on the site.

These findings from Colliers correlate with separate data from Welsh Tourism, which highlights that 57 per cent of leisure businesses in Wales received more visitors in the past summer, compared to the same season in 2012. Furthermore, nearly a third of the major tourist attractions in the region also experienced a rise in visitor numbers. It is hoped that these trends will continue into 2014 and have a positive impact on hospitality recruitment for local residents as a whole.

Head of office at Colliers Tim Davies said: “We’ve had a great season and many hospitality business owners and operators have been surprised and relieved at just how quickly their prospects have been turned around. Now, we’re seeing clear signs buyers are returning to the market and owners have finally got something to shout about."

It is therefore hardly surprising that Swansea is currently finishing its bid to become the UK City of Culture in 2017. Swansea Bay will have to compete with Leicester, Dundee and Hull for the title, but if successful, Wales will surely experience another bout of boosted tourism. The seaside resort of Mumbles and the Gower Peninsula are just two of the many attractions Swansea has to offer.

Berkeley Scott is a specialist recruitment agency providing hospitality employment solutions.