As the weather warmed up and vaccination rates increased, the restaurant business is approaching 2019 levels.
Compared to the same months in 2019, restaurant visits were down -10.4%, -7.8%, and -3.8% in April, May, and June, respectively, according to Placer.ai. If these trends continue, it's possible the industry could experience a complete rebound by the end of the summer.
However, some brands are outperforming the overall industry and have surpassed 2019 levels. For example, Placer.ai points to Darden Restaurants as performing exceptionally well. In June, visits to Darden brands Longhorn Steakhouse, the Capital Grille, Eddie V's Prime Seafood, Bahama Breeze, and Seasons 52 were up 18.9%, 19.8%, 28.5%, 3.9%, and 5.7%, respectively. Another strong performer in June was Texas Roadhouse, where visits were up 16.8% compared to June 2019.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
