The boss of pub and hotel chain Fuller's has expressed optimism about the upcoming summer period, citing favourable World Cup kick-off times and a surge in domestic tourism. Simon Emeny, chief executive of Fuller, Smith & Turner, noted that the evening start times of matches in the 2026 World Cup, co-hosted by the US, Canada, and Mexico, will provide a double boost to business during the peak season.
Speaking to BBC Radio 4's Today programme, Emeny highlighted that England's group matches, beginning with Croatia on 17 June, will kick off at 9pm or 10pm BST. Unlike previous tournaments where daytime matches could cannibalise normal summer trading, the later times are expected to drive more customers to pubs. Emeny stated, "I think it is going to be a very different World Cup compared to previous events mainly because of the kick-off times. The later kick-offs could potentially play very well to pubs."
Fuller's has prepared its 337 pubs, hotels, and inns by sprucing up garden areas to accommodate fans. The company has seen strong advance bookings for England matches and anticipates an excellent summer. Emeny added, "We are hoping England stay in the tournament long enough to really benefit pubs."
Beyond the World Cup, the chain is benefiting from a rise in staycations as UK holidaymakers opt for domestic trips over foreign travel due to higher costs abroad. Emeny noted, "We are seeing a big jump in staycations, growth in domestic tourism. UK customers are electing not to go on foreign holidays and short city breaks due to the extra cost of travelling abroad." Popular destinations include the Cotswolds, the New Forest, and London.
Strong Financial Results
Fuller's reported a 5.7% increase in revenues to £398 million for the year ending March, with adjusted profit before tax rising 28% to £34.6 million. The strong performance lifted the company's share price by up to 10% in early trading.
The chain, primarily operating across London and the south-east of England, attracts higher-income households earning over £75,000, who continue to spend despite the cost-of-living crisis. Emeny explained, "This group fiercely protects its discretionary spend on going out. Delivering a fantastic food, drink and accommodation offer ensures they continue to choose us."
Property Portfolio Valuation
Fuller's also updated the valuation of its property portfolio to £991 million, nearly £400 million above its current book value. Dan Lane, UK lead analyst at Robinhood, commented, "Fuller's has often looked at operating performance and ignored the property portfolio. A hefty valuation of its property suddenly brings the importance of its bricks and mortar back in. If the company can convince the market to see it as a high-quality hospitality operator rather than a collection of pubs, the property portfolio might not be the only thing that gets a bump in value."
