Leisure
Lease Expense Management for Leisure Occupiers.
- The challenge
Leisure and Hospitality occupiers have faced a difficult few trading years. In 2023, service charge budgets were starting to increase at above inflation levels, following a period where budgets had been fairly static. As we move into 2024, our latest data suggests that service charge budgets for leisure destinations are now at recorded levels, with average increases of 8% (in-town/enclosed) to 18% (out of town).
This upward pressure is being seen across all cost categories, with the greatest increases being seen in utilities, staff costs and the return of major works, as owners start to reinvest in their best performing assets.
With customers looking for new and exciting experiences, and with sustainability high on the agenda for many occupiers, reducing costs and making savings has never been more important to keep operations running smoothly and allowing leisure operators to continue to grow by investing costs saved into their businesses.
- Solution
Occupiers work with Assure Consulting’s team of experts to gain control and value for money from recurring financial liabilities, including service charges and insurance recharges.
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uk Retail/shopping Parks 2024
Out of town retail parks service charges are increasing at a rate of 18% (Q4 2023), this upward pressure is being seen across all cost categories, with the greatest increases being Utilities and Major Works. Read our latest Index.
“I have worked with Assure Consulting over a number of years and I continue to be impressed the quality of the service they provide. From the outset they appreciate the importance of accurate data and have invested heavily in their Verivi database which provides the foundation for their work. The team at Assure are skilled and knowledgeable in their respective fields and diligently pursue potential savings with our landlords. They work with a number of different teams at Pure Gym and are professional, helpful and responsive at all times. Most importantly of all Assure have and continue to achieve substantial savings across our estate.”