79% of hospitality sector leaders optimistic about future

Some 79% of managed restaurant, pub and bar sector business leaders feel optimistic about the next year, according to CGA’s latest business confidence survey.

This represents the highest confidence level since February 2015, and has risen very sharply from the quarterly survey’s results in October (18%) and February (50%).

Furthermore, 58% of leaders polled rated their current performance since reopening as being ahead of their expectations, and just 8% below.

However, the same poll found only two in five leaders say they are currently trading at profit.

Karl Chessell, the CGA’s director for hospitality operators and food in the EMEA, said: “After the immense challenges of 2020 and early 2021, it is very encouraging to see confidence levels riding so high across the managed sector.

“The figures are testament to the resilience of operators and the enduring appeal of restaurants, pubs and bars to consumers, and we can be optimistic that sales will follow confidence in bouncing back strongly this summer.”

He added: “There’s no escaping the fact that Covid-19 has taken a massive toll on hospitality, with thousands of businesses closing for good and many more still in a precarious position.

“The road to recovery could be long and uneven, and the sector is going to need sustained support on challenges like rent, rates and recruitment.”