Hold the comfort food: Fine dining returns
Ambitious eateries featuring cutting-edge dishes from established chefs and décors from top designers are back on the menu in a growing number of cities, signaling that the post-9/11 phase of economic retrenchment and comfort-food conservatism is easing
After several years of steady but relatively modest growth in sales, the restaurant industry in general and the fine-dining segment in particular appear headed for their biggest surges since 2000.
Overall, the industry "is well on its way to having another record-breaking sales peak, in excess of $440 billion," says Hudson Riehle, senior vice president of research for the National Restaurant Association. That would represent a 4.4% increase over 2003. Restaurants where the average check is $15 a person or more are on pace to achieve a record $35 billion in sales, "the strongest growth rate since 2000."
"Fine dining is more dependent on tourism and business travel than other segments, and travelers are now picking up where they left off," says Riehle.
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Overall, the industry "is well on its way to having another record-breaking sales peak, in excess of $440 billion," says Hudson Riehle, senior vice president of research for the National Restaurant Association. That would represent a 4.4% increase over 2003. Restaurants where the average check is $15 a person or more are on pace to achieve a record $35 billion in sales, "the strongest growth rate since 2000."
"Fine dining is more dependent on tourism and business travel than other segments, and travelers are now picking up where they left off," says Riehle.
External Source - For the complete article click here
