THE hospitality industry remains split over business prospects in 2012, new research has suggested.
A survey carried out by consultant Baker Tilly found that while around half (49%) of hospitality operators are positive about the outlook for 2012, almost as many (47%) are uncertain about the future. A further 4% have a negative outlook for the rest of the year.
Around 45% of respondents believed economic recovery will be slow, while 47% predicted “economic stagnation”.
However, 47% of businesses surveyed said they were hopeful of opening up new revenue streams and more than 90% said they expect profits to either increase or stay steady in the course of the year.
“It seems that the general sentiment amongst hospitality and leisure firms is fairly positive and they are looking to innovation and improved service to help flourish through these uncertain times,” said Baker Tilly’s Ali Aneizi.