The 2010 G8 and G20 summits held in Toronto, Canada were not such great news for many restaurant owners who suffered a great deal of damage by way of loss of business due to security reasons, and from angry crowds protesting during this time. It seems that the Hotels in the area did well but the Restaurant industry suffered on the whole.
According to Restaurant news, The Ontario Restaurant, Hotel and Motel, association as well as the Canadian Restaurant and Foodservices are pushing the Canadian government in it's willingness to compensate the businesses that suffered loss of business and as such the revenue.
Aside from the demonstrations holding business at bay, many of the businesses were not able to open or cater to their normal clientele because of security reasons. One of the problems was that the Restaurant owners that were affected by the summits were not aware of how much of an impact this was going to have on their business.
Although this particular circumstance is isolated to the summits held in Canada, no country is exempt from the type of interruption this particular venue can have on the Restaurant business. Often people are under the misconception that business will boom during that time because of the many dignitaries that frequent the summit. Unfortunately with the tight security that is required this does not become a fact.
During a tough economy no Restaurant big or small can afford any interruption in their business. To recoup from this takes much longer than what it would in a stable economy. In fact for restaurants that are running into financial difficulties already, it could basically end up being the "straw that broke the camel's back" scenario.
Article source: Contributed by RestaurantNewsResource.com, a global restaurant news distribution service.
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