Synecore believes British tourism could save the current downturn in the construction industry, caused by the Brexit vote in June this year. Along with fellow SME’s in the UK, Synecore held tight to see howthe Brexit vote would impact on the nature of its business. Now five months on,the firm has found that business is booming and it’s all down to growing tourism.
Paul Thomas, Synecore’s Managing Director explains: “Since June we have noticed an incline in construction for the hospitality industry. The weakened pound appears to be working in the favour of hoteliers and restaurateurs, particularly in London. The reason being tourists!”
Synecore is a preferred mechanical and electrical contractor for numerous restaurant and hotel brands across the country and has experienced a significant rise in electrical contracts and air conditioning installations for hotels and restaurants refurbishments, especially within the capital.
“There is still a general air of caution within the hospitality sector when it comes to development,” adds Thomas. “The uncertainty of the economy has caused some projects that we were scheduled to complete in 2017 postponed until 2018.
“Brexit has also impacted on materials costs. While we currently find ourselves absorbing these changes, this cannot be maintained. We will always do our best to remain competitive, but there is no doubt costs will increase and the uncertainty in the wake of Brexit is affecting the construction Industry.”