Hospitalities biggest worry.

Hospitalities biggest worry

A report was done by premier provider of executive search, leadership consulting and culture shaping worldwide "Heidrick & Struggles" in association with the British Hospitality Association that looked into what big hospitality businesses are concerned about going forward. They spoke to chairman and executives of some of the largest organisations in the hospitality industry.

Findings showed that although the opinions regarding specific sectors of the industry differed, there was one overall consensus: rising costs.

This seems a legitimate concern as the British Pound Sterling keeps falling, leading to a weaker currency. This is resulting in larger costs for imports, which inevitably will be passed onto consumers.

These rises in prices include basic necessities such as butter and meat. So any food prices in hotels, restaurants, resorts, pubs etc. are likely to go up soon, which will put off consumers and may damage the hospitality industry as a whole.

Another concern was an impending recruitment gap, which we have discussed in a previous post, that is projected to hit hard around 2029 with over 1 million job slots being empty.

 

Do you have any worries regarding the future of the hospitality industry? Has this been a surprised to you?


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