The “Affordable Restaurant” Apocalypse
Likening the rise of food halls in America to Singapore’s hawker stalls, David Chang told a crowd of urbanists this week that he foresees fewer restaurants in the middle of the market. “You’re gonna see the mom and pop restaurant in New York City not vanish completely, but it’s gonna be way more difficult,” Chang said during a panel at The New York Times Cities of Tomorrow conference in Manhattan. He predicted the market will skew toward more affordable dining at food halls on the low end, and expensive, luxurious restaurants on the high end. The types of independent, one-off restaurants where dinner costs $40-$50 per person are becoming harder for…
Hospitality industry’s rapid growth under threat without Government support
The hospitality industry’s stellar growth since the financial crisis could be halted and start to fall by 2021 if the Government continues to overlook it, a new report has suggested. Research by Ignite Economics carried out for the British Hospitality Association, has predicted the sector’s workforce could begin to drop by 2021 with the contribution it makes to the economy also falling as cost pressures from wages and business rates bite alongside a potential labour squeeze once the UK leaves the EU. Any weakness in the industry would be a concern given it employs almost 10% of the entire UK workforce and has grown its contribution to the economy faster than…
BUILDING A SUCCESSFUL RESTAURANT
