Victorian hospitality reopening triggers national revenue boost in October 2020

Posted by Media Release Agency on 9th November 2020

Australia’s national hospitality revenue in October has seen a 10.8% jump compared to the same time last year.

Victorian hospitality venues continued to feel the impact of harsh COVID-imposed lockdowns with a 18.3% decrease in average revenue in October compared with pre-COVID levels in January. However, signs of life are starting to emerge with a 3.6% increase in revenue the first week after restrictions were eased. This is the first positive revenue increase since mid-June.

Data from more than 7000 local venues using Lightspeed, the leading point-of-sale and omnichannel solutions provider for hospitality and retail, reveals diners’ excitement in the reopening, with revenue increases across the majority of the country. Specifically, the data reveals that:

  • Average revenue in October was up 9.6% compared to pre-COVID levels, and up 7.9% compared to September
  • Restaurants saw the biggest increase in October, with a 11.6% revenue increase compared to September, followed by bars (7.9%) and cafes (6.8%)
  • Victoria’s average revenue was up 17.6% compared to September, however down 15.1% compared with the same time last year