STAA submits five-point plan to advise government on industry recovery

UK: The UK Short Term Accommodation Association has announced the submission of a five-point recovery plan as part of continuing discussions with the government.

The plan has been submitted to the Department of Culture, Media and Sport, and hopes to get the industry back on its feet after the restrictions have ended.

The five points are as follows:

  1. Recognising short-term accommodation providers as a stand-alone category to be included in current and future support schemes for the hospitality industry.
  2. Amending domestic legislation to allow the provision of refunds and price reductions as vouchers and credit notes instead of cash.
  3. Enabling more companies to participate in the Future Fund by lowering the investment threshold for eligibility.
  4. Ensuring that the matching structure of the Future Fund caters to EIS/SEIS-compliant private investment, as many companies in the short-term rental sector have private investors rather than venture capital investment.
  5. Minimising limits placed on international visitors by ensuring that travellers who have to self-isolate, during this period, have the option to book a home and that any limits are in place for as short a period as possible.

Much of UK travel and hospitality have received support from the government as a result of the pandemic, including the furlough and various recovery loan schemes. STAA is hoping that with this plan, the government will consider shifting some of these to more short-term rental targeted interventions.

STAA Chair Merilee Karr said: “As an industry we support and appreciate the swift and meaningful actions already taken by the Government, as well as the dialogue that it has maintained with our industry. But it’s imperative that more is done if we are not to see a complete collapse of many companies in a sector that provides so many jobs, has valuable supply chains and provides vital options for consumers in the UK’s tourist accommodation sector.”

STAA has also noted approval of the government furlough scheme. This scheme was extended through to October as lockdown is set to continue.