ao link

You are viewing 1 of your 2 articles

To continue reading register for free, or if you’re already a member login

 

Register  Login

Only 30% of hospitality businesses optimistic about 2018

These figures have been released by data and research consultancy CGA in its Business Confidence Survey, which collates information from over 100 senior executives across the sector.

 

Optimism about prospects for their own businesses also fell from 68% in the first quarter to 52%, and a third (32%) of leaders admit their business’ performance has been below expectations in the past six months.

 

Issues highlighted by the survey include Brexit, where 71% of leaders say the decision to leave the EU has had a negative impact on their business, with only 3% citing a positive impact. More than three-quarters of leaders say increasing costs of raw materials (79%) and rates (78%) have negatively affected their business; and 69% said their business has increased menu prices over the last quarter in light of soaring costs.

 

The Coffer Peach Business Tracker revealed like-for-like sales at leading managed pub and restaurant chains have risen by just 1.3% over the last 12 months.

 

CGA vice-president Peter Martin said: “Our Business Confidence Survey is the clearest indication yet of the trials facing the leaders of out-of-home eating and drinking.

 

"With food, property and people costs all rising, consumer confidence softening, competition intensifying and Brexit casting a long shadow over the future, operators are enduring something of a perfect storm of challenges. But this is a creative and resilient sector, and while leaders’ optimism has been dented this year, they will be rolling up their sleeves and fighting hard for growth in 2018.”

 

Videos from The Caterer archives

 

 

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

Plant-Based World Expo

Plant-Based World Expo

Social Media Summit 2024

Social Media Summit 2024

Hotel Cateys

Hotel Cateys

Best Places to Work in Hospitality 2025

Best Places to Work in Hospitality 2025

Queen's Awards for Enterprise

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

Jacobs Media

Jacobs Media is a company registered in England and Wales, company number 08713328. 3rd Floor, 52 Grosvenor Gardens, London SW1W 0AU.
© 2024 Jacobs Media