Festive cheer for bars, says report

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Bars and restaurants in the City of London are enjoying 'significantly improved' sales this festive season, a report says

Bars and restaurants in the City of London are enjoying “significantly improved” sales this festive season despite the big freeze, according to a new report.

The London Chamber of Commerce said this year has been better for licensed premises than 2009, even though some parties have been cancelled or curtailed because of the bad weather.

A survey of 50 bar, restaurant and club managers in the Square Mile showed that half reported better trading than a year ago, with only one in five saying things were worse.

Colin Stanbridge, the chamber’s chief executive, said: “Last year saw London’s leisure and hospitality sector bounce back from the recession so it is particularly heartening to find that 2010 has been even better.

“It is not only landlords who have reason to be happy though. Our survey results show that City professionals again have money to spend as London’s vital services industry continues its resurgence.

“Yet while this Christmas has been great for the businesses we spoke to, many told us that snow and ice led to a drop in footfall and numerous parties were either rescheduled or cancelled.”

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