As the traditional 9-5 working day becomes less and less common, the times at which people want to go to the pub, grab a meal or work out at the gym are changing.

A new report from Barclays shows that although over a quarter of hospitality and leisure businesses recognise this growing demand, opening hours are not keeping up with changes to modern working lives.

Since our leisure time has shifted, a quarter of workers would now like to go to a museum in the evening (between 6pm-11pm), over one in ten (13%) film fans would choose to go to the cinema in the small hours (11pm-5am), and almost one in five late-night diners would choose to get a takeaway after closing time (11pm-5am).

By responding to these changing demands, the British hospitality sector could benefit from a further £6.75bn a year, which equates to £521m for the South West, in increased revenue according to research from Barclays.

The new Barclays Corporate Banking Hospitality and Leisure report, Open All Hours? finds that only a third (37%) of UK workers now work traditional 9-5 hours, with over a fifth (22%) saying they need different opening hours.

The report also finds that a similar number (19%) expect 24-hour hospitality services. By responding to this demand, restaurants (£2.2bn per annum), takeaways (£2.1bn), and pubs, bars and clubs (£1.2bn) could benefit the most.

While consumer demand isn’t always being met, satisfaction with the availability of hospitality services varies across the sector. As Britain becomes more health conscious, gyms and sports clubs have been quick to adapt, with almost one in five (18%) hospitality and leisure business leaders surveyed already changing their opening hours.

Trevor French, head of Mid Corporate Banking for Swindon at Barclays, said: “Adapting to the changing consumer demand presents a substantial opportunity for businesses. Our research has shown that leisure operators across the country could access a staggering £6.75bn per annum by accommodating their customers’ evolving needs which have been brought on by changing working patterns.

"While that may be a challenge for some providers, understanding the value of the opportunity makes the prize more tangible.

“The current leisure environment does present a number of challenges for the sector’s businesses; the labour supply is challenged by Brexit, rent increases and food inflation are all set within the context of an incredibly competitive market which is already heavily discounting.

"However, those that don’t adapt to this type of newly developing consumer demand risk being left behind and in this ever-competitive environment, businesses need to weigh up the value of the long-term opportunity over the cost of the short-term investment.”

Changing working preferences are adapting how and when we use hospitality services. Customers are looking for both different opening hours as well as continuous access to booking platforms. Although there are barriers to overcome, Barclays research shows there is a £6.75bn opportunity for hospitality businesses that can make the change.