The industry was among the hardest hit by the pandemic and had the highest number of respondents reporting that they did not have a plan in place. Many organizations are still managing the immediate impact and working to survive, focusing on cost management and doing as much as possible for workforce well-being.
Hospitality respondents ranked reputation as a higher priority compared to the overall benchmark, which is likely down to the potential transmission risk posed by normal operations. Well-being of employees, but also of customers, is key to providing confidence on COVID-19 security.
The industry is also preparing for a wave of opportunistic acquisition and ongoing disruption that is likely to follow the pandemic, particularly a reduction in spending and travel.
Full results
Hospitality
Future Shocks
1. Economic disruption
2. Another health crisis / pandemic
3. Business model disruption
4. Geopolitical tension
5. Technological disruption
67%
20%
13%
Our business has been severely impacted and will take significant time to recover
Our business has been impacted, but we are unsure of the long-term impact
Our business has been impacted, but has been resilient
Impact Severity