New research has found that 1 in 2 hospitality businesses are either ‘confident’ or ‘very confident’ for the future of their enterprise, despite the disruption caused by Covid-19.
According to a new survey from accountancy firm haysmacintyre, which surveyed 141 sector operators, hotel businesses are the most positive about future trading, with 83% feeling confident, compared with restaurants who were slightly less optimistic at 53%.
Pubs and bars were the least optimistic of the group, with 59% either uncertain or lacking in confidence for their prospects looking forward.
The UK Hospitality Snapshot Survey also showed that 69% of businesses believe that trading levels will return to normal either by the end of this year or the first half of next year.
However, despite being most confident about the future of their businesses, hotels estimated that their return to normal trading would take longer.
The survey also highlighted that three quarters of respondents who set up delivery and takeaway services as a result of the pandemic plan to continue to provide this service as restrictions are eased and 78% of businesses who have switched to online sales (including DIY meal kits) plan to continue to offer these once reopened properly.
Gareth Ogden, partner in the hospitality team at haysmacintyre, comments: “One of the industry’s greatest strengths has always been its resilience. Now you can add adaptability and ingenuity to that list of strengths. Combined with the announcement in the Budget of extensions to various support measures for the sector, a new recovery loans scheme and hospitality grants, the hope is that this innovation will aid the sector’s transition back to normal trading operations.”