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Congress is Weighing a Fresh Stimulus Package for Restaurants
And other businesses as Omicron rages. As the US shatters records for the number of COVID-19 cases, some members of Congress are mulling a fresh round of economic relief for businesses. The Washington Post’s Tony Romm first reported that lawmakers from both parties were in talks about potentially proposing to pump billions into businesses, including hard-hit ones like restaurants. The Post reported that Sens. Ben Cardin, a Democrat from Maryland, and Roger Wicker, a Mississippi Republican — who are reportedly leading the talks — had put together a $68 billion proposal in December. “We started with restaurants, but we’re prepared to expand it if we can have the necessary support,” Cardin told reporters on Wednesday. “There’s other industries that have legitimate concerns.” A White House official told Insider on Wednesday that the Biden administration is “continuing to closely track” the Omicron wave though no final decision had been made to push for another relief plan.
Pandemic Permanently Alters Consumer-Restaurant Relationships
Survey says. Restaurant operators are optimistic and plan to invest in technology and real estate to align with consumer preferences, fueling strong credit needs. The COVID-19 pandemic has permanently altered the consumer-restaurant relationship with operators investing in technology and real estate to align with changing consumer preferences, according to the 2021 Restaurant Franchise Pulse survey, conducted by TD Bank. Early in the pandemic, 72% of operators invested in delivery and mobile/online ordering to boost revenue during mandated stay-at-home orders according to TD’s 2020 survey, and it appears the popularity of these offerings is here to stay. According to this year’s survey, restaurant operators’ early investment in delivery and mobile ordering has paid off in a big way.
- 71% rely on delivery for 11% or more of sales
- 33% rely on delivery for more than 20% of sales
- 65% rely on mobile ordering for 11% or more of sales
- 25% rely on mobile ordering for more than 20% of sales
What Restaurants Can Learn From—and Do About
The worker shortage. Over the course of the last two years, restaurants have demonstrated they are nothing if not resilient. Recovery from the pandemic has proven to be an ongoing process of navigating unprecedented challenges and evolving health regulations. Among these obstacles has been a particularly difficult and universal issue among the service industry: attracting and retaining talented employees. The COVID-19 pandemic has highlighted and exacerbated ongoing employee concerns, such as feeling undervalued or lacking incentives for hard work. While the labor gap is a significant pain point for restaurants, it brings about an opportunity for the industry to create more permanent workforce solutions. Restaurants have the chance to reinvent themselves as progressive employers who cultivate quality of life for their employees. A cross-functional team at The Coca-Cola Company recently conducted proprietary research and analyzed insights from third-party sources to create an overview of the labor landscape, including insights and recommendations for foodservice operators to address the constrained labor supply.
Three Shots or Bust
Restaurants turning to booster mandates alongside proof of vaccination. The Omicron wave has forced much of the restaurant industry into a modified shutdown again. Case numbers are skyrocketing, and some restaurants are responding by temporarily closing or pivoting back to delivery and take-out only, in order to keep both patrons and workers as safe as possible. Many restaurants offering dine-in are requiring proof of vaccination, whether it’s mandated by their county or not. And now, some restaurants are taking it a step further — requiring patrons to be not just “fully vaccinated,” but have proof of a booster shot as well. Across the country, restaurants are beginning to mandate booster shots for eligible diners. In San Francisco, Cassava and Zuni Cafe both made the change, with the latter saying those who aren’t yet eligible for a booster must show proof of when they received their last shot: If a diner has two shots but is still ineligible for a booster, they can eat indoors; in any other scenario, having just two shots limits them to outdoor tables. Baker Miller became the first restaurant in Chicago to require boosters for diners, with owner Dave Miller saying he made the choice because they can’t afford to close. “We need the revenue to survive the winter. We had to decide what we think is safest,” he told Eater Chicago. “The studies seem to show that the booster seems to contain potential spread [of the virus].”
Six Reasons Promo and Gift Cards Will Be Driving Restaurant Trends
In 2022. The restaurant industry has survived nearly two years of the global pandemic, adapting to ensure they provide the best possible experience for new and returning customers. Convenience, digital accessibility, and safety reign supreme. Among all the trends forecasted for hospitality establishments in 2022, restaurant gift cards are one of the most powerful tools in your tool belt. But why? We’ve listed six trends you’ll see in restaurants in 2022 and, through them, how you can use gift and promotional cards to see even more success. be strategic and creative with your gift and promotional cards, ensure you have a solid presence online, and capitalize on your restaurant’s unique qualities. Don’t sell your restaurant gift cards short in 2022.
Six Trends to Expect from Back of House
In 2022. It’s no secret that the restaurant industry has changed dramatically in the last two years. COVID has upended the way the industry operates, shifting everything from the way we serve guests to how sanitation works to what the supply chain and labor market look like. Although the pandemic will continue to change how we navigate the restaurant industry moving forward, many operators are looking to find their new normal and begin proactively investing in their success again. Trends that accelerated because of COVID and new trends emerging out of the pandemic will begin changing the face of restaurant technology. Operators are moving toward adoption of new technologies, especially ones that will help them navigate the labor and supply chain issues they face, as well as focusing on the ongoing push toward off premise dining. Here are six things you can expect to see in back-of-house tech in 2022.
NJBIA Opposes Bill Mandating Employment Conditions
In hotel ownership transfers. NJBIA testified against a bill on Thursday that would place unfair conditions on the transfer of ownership of hotels in the state. Bill A-6246, which was introduced on Monday and quickly approved by the Assembly Appropriations Committee on Thursday, requires a successor hotel employer in a change of ownership to offer employment for each hotel employee of the selling hotel, with no reduction of wages or benefits for 90 days. NJBIA Vice President of Government Affairs Ray Cantor, who testified against the bill during the committee hearing, said that some of the provisions of the bill are actually illegal. “While it is admirable to want to protect every employee when a business changes ship, collective bargaining and the WARN Act already provides such protections,” Cantor said. “This bill, however, changes the rules of the game and forces a new hotel owner to accept the employees and wage and benefit terms negotiated by the former owner.
Restaurants Are Operationally Challenged Right Now
Here’s how data fixes it. The restaurant industry has had plenty of challenges over the last two years, including temporary closings due to the pandemic, adopting more ecommerce tools and dealing with labor shortages. Now, there’s uncertainty whether they’ll be able to keep the sidewalk tables that have allowed them to serve more customers despite local capacity restrictions. With all that in mind, the fact remains that restaurants need to generate more revenue to pay higher wages to keep employees happy and make up for lost sales of recent months. The good news is that local restaurants and chain brands can lean into data to understand more about where their opportunities lie. Data can help them develop strategies for targeting loyal customers, acquiring new ones and getting them to come back regularly.
Did You Know?
Danny Meyer’s second investment fund raises $332m. The restaurateur’s Union Square Hospitality Group closed on its second fund, Enlightened Hospitality Investments, which plans to invest in high-growth companies. Danny Meyer wants to invest in more growth companies and he’s getting more institutional investors to come along with him. Meyer’s Union Square Hospitality Group on Monday announced that it closed its second fund, Enlightened Hospitality Investments II, or EHI, which raised $332 million in capital commitments, 10% above its initial $300 million fundraising targets. The fund included some new institutional investors, including college endowments, strategic investors and family offices.
Employee Tip
New research found COVID-19 vaccines saved more than 240,000 lives in the US. COVID-19 vaccines saved nearly 241,000 lives in the United States and prevented more than 1 million virus-related hospitalizations in the first six months of the country’s inoculation program, according to a new research model. A research letter, published Tuesday in the peer-reviewed medical journal JAMA Network Open, found coronavirus vaccinations also prevented more than 14 million COVID-19 cases from mid-December 2020 — when the US COVID-19 vaccine campaign first kicked off — to June 30, 2021.
Bielat Santore & Company – Restaurant Industry Daily Alerts
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ATLANTIC CITY, NJ – RESTAURANT AND BAR FOR SALE
Turn-key Atlantic City, NJ restaurant/bar; strategically located on strip near hotels and casinos; 3 floors; 1st floor – 100 seat dining + 75 seat bar/lounge; second floor – 100 seat private party room + 30 at bar; third floor – office/residence; on-site parking for 50 cars; owner retiring after 40 years in business; additional income producing parking lot also available; financing available to qualified.
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For more information contact Richard Santore, Bielat Santore & Company, 732.531-4200.
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