Hotels and guest houses are set to receive £165.9m due to the government’s ‘Restart Grants’ scheme’, according to Atlus Group.
The real estate advisor estimates pubs, restaurants, hotels and guest houses will receive £936m overall as part of the government’s ‘Restart Grants’ scheme to mitigate the economic damage caused by the pandemic.
Some 37,463 pubs will be entitled to £445.97m through the scheme, while 27,154 restaurants are eligible for £324.28m.
As part of last week’s budget (3 March), the government announced ‘Restart Grants’ in England worth up to £18,000 per property will be available for hospitality, accommodation, leisure, personal care and gym businesses throughout the year.
Paul Scully, the government’s business minister, said the extension would help “the chains and the thousands of staff they employ”.
Robert Hayton, UK president of Property Tax at Altus Group, said: “The increase in subsidy controls will mean a far larger number of premises occupied by the big operators will now receive the grants which, in conjunction with the business rates relief and other measures, makes a compelling basket of support ahead of reopening.”