‘The Covid fog is beginning to lift’: Hospitality and leisure bosses hail Pfizer news as hard-hit shares surge

Publicans, hoteliers, restaurant and gym groups welcomed news of progress in a Pfizer vaccine for Covid-19 with cautious optimism on Monday.

Shares in sectors hard-hit by the pandemic surged after the pharmaceutical giant and BioNTech said a preliminary analysis showed their jab is more than 90% effective at preventing the disease.

The developers described it as a “great day for science and humanity”.

Shares in leisure and hospitality immediately jumped in reaction, along with those of airlines and engine-makers.  

The UK's large listed pub groups - Marston’s, Mitchells & Butlers, JD Wetherspoon, Young’s and City Pub Group - gained 17%, 19%, 12.5%, 19.5% and 17.5% respectively.

Hotels also saw a boost, with giants including Premier Inn owner Whitbread and InterContinental Hotels group sees rises of 17% and 15% respectively.

Businesses brought to the brink by Covid, such as Cineworld, saw unprecedented rises. Cineworld, which was forced to shut its doors after Hollywood studios cancelled new movie launches, was up 38%.

Shares in budget fitness company The Gym Group, which runs 183 gyms around the UK, were up 37%.

Its chief executive Richard Darwin told the Standard: "This is hugely encouraging news and provides a real sense that a path back to normality looks possible. We look forward to a rapid rollout.”

London-based Lebanese restaurant group, Comptoir Libanais, last month warned of restaurant closures and said it is seeking to survive the ongoing pandemic. Shares in the company were up 13.5% today.

Today company chief executive, Chaker Hanna, said: "We are delighted with the news of vaccinations, although a little cautious. We believe this will greatly help consumer confidence and hopefully we will slowly start to see more footfall in the high street and shopping centres.

"Our business suffered greatly like all of the hospitality and retail industry since March, and such light at the end of the tunnel has to be welcomed and is encouraging."

He added: "Unfortunately it’s too late for many businesses to survive the devastating impact of Covid."  

City Pub Group’s chairman Clive Watson gave a similar reaction.

He said: “The Covid fog is beginning to lift - it’s not back to the races and normality is still a long way off, but the pub sector now has hope and that has been in short supply in the last nine months.”

Watson’s comments were echoed by fellow pub boss Patrick Dardis of Young's.