Hospitality leaders 'more optimistic' on future, CGA finds
Friday, February 26, 2021
Hospitality industry executives are reported to be upbeat about the sector's long-term future despite finding "urgent" support needed to cope with the re-opening, in line with the CGA Business Leaders Survey 2021.
Half (51 per cent) of business leaders questioned by the CGA felt confident about the outlook for the industry in the next 12 months - more than three times the 14 per cent predicted in November.
The survey, carried out in partnership with UKHospitality, the British Beer and Pub Association and the British Institute of Innkeepers, found that 9 per cent of executives predict that unless more help is announced at the March Budget, their companies will not survive.
Three out of five store managers (59%) expect to be opened in 2021; this is up 11 percentage points since November, and well above the number of shop managers (31%) who expect some store locations to stay closed forever.
Phil Tate, chief executive of the CGA, said: 'This survey shows business leaders will be walking a tightrope in 2021. Nearly 12 months on from hospitality's first compulsory closure, many thousands of venues and jobs have now been lost for good.