Restaurant performance finds itself in a "new abnormal" coming out of the pandemic, with more venues opening but also profits declining despite upticks in sales.
Remote work schedules aren't helping revenue, according to A&G Real Estate Partners.
Based on the time of day and location, "Fridays are turning into Thursdays" in markets such as New York City and for other downtown restaurants. The hybrid-work model has contributed to decreases in average unit volumes of 40 or 50 percent.
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.
