Hospitality groups see share surge following roadmap announcement
Several hospitality groups saw shares spike following Monday's reopening roadmap confirmation, including IHG Hotels & Resorts, Whitbread and Fuller's.
Premier Inn owner Whitbread, pub group Fuller's, Franco Manca operator Fulham Shore and Brighton Pier Group all saw spikes on Monday. Fuller's share price approached pre-pandemic levels this week with a share price of 850p when the markets closed yesterday, having been 900p this time last year.
Fulham Shore surpassed February 2020 levels of 11.75p earlier this month and saw a second spike on Monday, hitting 13.25p and climbing further to 14p yesterday.
Pub group JD Wetherspoon is also approaching recovery having recorded a share price of 1,338p on Monday, and IHG Hotels & Resorts rallied to 5,312p, having dropped to 2,385.5p on 19 March 2020.
On Monday, the prime minister announced that outdoor hospitality will be permitted to reopen no sooner than 12 April, and indoor hospitality including hotels could begin to reopen from 17 May.
Hotel companies also saw a spike late last year following the news of the Covid-19 vaccine breakthrough.