Report

CGA Fourth Business Confidence Survey Q4 2020

Latest Business Confidence Survey from CGA and Fourth reveals the scale of the challenges facing operators in the run-up to Christmas

The COVID-19 pandemic has wrecked confidence across hospitality, with fewer than one in five (18%) leaders now optimistic about the market’s prospects for the next 12 months, the new Business Confidence Survey from CGA and Fourth reveals.

The figure is 42 percentage points down on the pre-pandemic level of 60% in the February edition of the Survey. Extended restrictions on trading and socialising over the autumn have led more than a quarter (27%) of multi-site business leaders to predict their groups will be unviable within the first six months of 2021 if current levels of support continue. Single-site businesses are at even greater risk of failure, the Survey shows.

However, twice as many leaders (35%) say they are optimistic about their own business’ prospects over the next year—a substantial increase from the last edition of the Business Confidence Survey. There are also signs of cautious ambition, with more than two in five (44%) leaders intending to open new sites in 2021.

Sebastien Sepierre, Managing Director – EMEA, Fourth, said: “Hospitality has always been a resourceful, optimistic and innovative sector, something we’re immensely proud to be a part of. Despite these strong characteristics, the results clearly paint a stark picture for leaders’ optimism levels across the sector, as businesses look to negotiate the ever-moving goalposts of Government restrictions, during what is traditionally the busiest period of the year. With cautious optimism on the horizon, in the form of a vaccine, there still remain many challenges in the year ahead, such as the availability of goods and labour, after we exit the EU Customs Union. We will continue to work tirelessly with businesses to help them harness the power of technology and data to tackle what lies ahead.”

The CGA Fourth Business Confidence Survey is based on responses from 121 leaders working at CEO, MD, Chairman, Director or other senior management level, with further research of members of UKHospitality, the British Beer and Pub Association and the British Institute of Innkeeping. The Survey was carried out in mid to late November 2020.

Download the Report

Congrats, your download is ready!

Click the download button to access your free resource.

Additional Content You Might Also Appreciate

Inventory Management for Hotels

Inventory Management for Hotels

Our end-to-end Hotel inventory management solution (formally Adaco) helps hotels, resorts, theme parks, restaurants, catering operations, cruise ships, and other hospitality businesses transform their back-office operations, increase margins, and provide a better customer experience.
Inventory Management for Hotels

Inventory Management for Hotels

Our end-to-end Hotel inventory management solution (formally Adaco) helps hotels, resorts, theme parks, restaurants, catering operations, cruise ships, and other hospitality businesses transform their back-office operations, increase margins, and provide a better customer experience.

Want to learn more or have questions?