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The U.K.’s decision to leave the European Union last year is proving a boon for companies that accommodate Brits holidaying at home.
The number of trips abroad made by British people declined again in August, according to latest data from the Office for National Statistics, indicating a potential rise in “staycations” as a less-valuable currency and falling living standards influence travel plans.
According to retailer Halfords Group plc, sales of camping equipment were the highest on record in the six months ended Sept. 29. Hoteliers are also benefiting: at Fuller Smith & Turner Plc, which operates a chain of boutique inns, like-for-like accommodation sales were up eight percent in the six months ended Sept. 30.
“Our accommodation offer continues to develop and take advantage of the opportunities provided through staycations,” Fullers said in a statement Friday.
Here’s a look at some stocks that stand to gain from a rise in staycations:
While it might be natural to think that falling overseas travel could weigh on the likes of tour operators and airport retailers, so far that’s not been the case, analysts say. Retailers such as WH Smith Plc that operate in London’s large airports will conversely benefit from a high volume of inbound traffic as overseas visitors take advantage of the weak pound, according to Whitman Howard’s Tony Shiret.
SSP Group Plc, which operates eating concessions at some of the U.K.’s key airports, is also showing little indication of a downturn, according to Shore Capital analyst Greg Johnson.
Source: skift.com