Ascot in running for booking boom

Ascot is in the midst of a booking boom in the run up to the Royal Meeting amid signs that a recovering economy has prompted the City to increase spending on entertainment.

The track has seen a 14% surge in fine-dining revenue for the week-long event, with a number of facilities close to capacity and the highest price Parade Ring restaurant already sold out for the whole meeting.

Most of the 222 boxes, 169 of which are sold on annual licence, are also gone for the event, which runs from June 17 to June 21. It has traditionally been a hot ticket among City firms which have long used the event to entertain favoured clients. The trend is reflected across the wider public, though incomes are only just beginning to rise ahead of inflation again, with revenue from ticket sales 11% ahead of last year.

Charles Barnett, chief executive of Ascot Racecourse, said: “Although anecdotally we are hearing good messages about the economy it is very gratifying to have real concrete evidence of this improvement for Royal Ascot. The year-on-year incremental revenue figures — particularly in all our premium fine-dining facilities — are testament to that.”