70% of hospitality businesses confident about prospects, survey finds | Article

70% of hospitality businesses confident about prospects, survey finds | Article

Some 70% of businesses have expressed confidence about their future prospects, according to the latest July 2021 Hospitality Snapshot Survey by accountancy firm Haysmacintyre.

The survey of 92 pub, restaurant, and hotel operators found that 49% of respondents expressed “confidence” about the future despite last month’s delay to full reopening.

The increase in confidence was primarily driven by the pub sector, with 79% of pub and bar respondents now “confident or very confident” about the future, compared to just 41% in March.

Furthemore, 82% of hotel respondents said that they were either “confident or very confident” about their future prospects, in line with 83% in March, whereas 60% of restaurants expressed confidence, up from 53%.

Only 9% of all survey respondents expressed a lack of confidence in their business’ future, down from the 16% reported in March.

Gareth Ogden, partner in the hospitality team at Haysmacintyre, said: “With the economy finally re-opening in full next week, there is optimism in the air that many businesses will be able to benefit from new opportunities and a late summer free of restrictions with venues operating at, or close to, capacity once again.

“It is also clear that the sector is still facing a number of significant challenges, including staff recruitment in particular.”

He added: “As government measures unwind it is more likely that they will cease altogether as the treasury looks to balance the books and pay for the huge cost of the pandemic. Therefore, we are yet to see the full fallout for the sector, which will inevitably play out over the next 12 months.”

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