The hospitality sector in the City of London is a “vital part” of the business district’s “soft power”, Lord Mayor Nicholas Lyons has told industry leaders at The Mansion House.

Acknowledging the difficult winter, with sharp increases in energy bills, and rising inflation, he pledged the City Corporation’s continued support for the Square Mile’s pubs, bars, restaurants, and cafes.

He said that the City Corporation stepped up to help firms during the pandemic with its COVID Recovery Fund of up to £50m available to SMEs, which “helped businesses get back on their feet.”

He told guests that the City Corporation was already “encouraging more footfall into the City through our Destination City agenda” – announced by its Policy Chairman Chris Hayward last year - with a vision to create a seven-day-a-week visitor destination.

And he also said that a fast-track al fresco seating policy has been delivered with no fee, “resulting in over 140 venues contributing to the City’s vibrancy with outdoor seating.”

Summing up the City’s support for the sector - and the sector’s importance to the City - Lord Mayor Lyons said that the Square Mile is home to almost one thousand licensed premises. The figure is an increase on pre-pandemic numbers, with 16 of them benefitting from 24-hour licenses.

For the night-time economy, Thursday remains – by far - the busiest day in the City’s week, with weekend trade around its transport hubs reporting brisk business.

Chair of the City of London Corporation’s Licensing Committee, James Tumbridge, said:

“The City of London’s hospitality sector is key to the City’s attractiveness, and there is a considerable demand for bars, pubs, and al fresco spaces at street level and on roof terraces.

“We are very encouraged by the increasing footfall, especially, on the weekends.

“We are saying loud and clear that the City is open for business, and our Destination City programme is all about showing the Square Mile is more than a place to work, it is a world-leading leisure destination for visitors, workers, and residents.”

ENDS

Notes to editors:

For further information, please contact Andrew Buckingham, Media Officer (Arts, Culture, Heritage, Licensing), City of London Corporation / 07795 333060 / andrew.buckingham@cityoflondon.gov.uk

About the City of London Corporation:

The City of London Corporation, which owns and manages London Metropolitan Archives, is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK –  www.cityoflondon.gov.uk