Warm weather and weak pound attract visitors to Yorkshire
SUNNY WEATHER and the weak pound have brought higher numbers of visitors to Yorkshire over the last few months, according to the local branch of restructuring and insolvency trade body R3.
Eleanor Temple, chair of R3 in Yorkshire and a barrister at Kings Chambers in Leeds, said: “The combination of Yorkshire sunshine and the relatively weak value of sterling has resulted in the region attracting high numbers of visitors from home and abroad over the last few months.
“It’s good to see our hospitality sector benefiting from this more positive outlook having faced some tough times.”
The latest R3 research shows that in October, Yorkshire’s hotels saw the strongest resurgence out of the 11 sectors monitored by R3.
The region’s hotels saw a 2.2 per cent month on month fall in the number of companies in the sector facing an elevated insolvency risk.
Of the 664 active hotels in the region, 219 are currently deemed to be at higher than normal risk of entering insolvency in the next 12 months.
The proportion of Yorkshire hotels with a raised risk of insolvency is, at 33 per cent, slightly higher than the national figure of 32 per cent.
However, the region’s hotels put in a stronger performance than their counterparts in many other parts of the UK.
R3 said that for the first time in over a year and a half, there was a month on month fall in the percentage of Yorkshire companies at higher than usual risk of insolvency.
Overall, the level of Yorkshire businesses at higher than normal risk of insolvency (44 per cent) fell by 0.3 per cent since September.