The hotel and restaurant industry which was among the worst-affected industries during the pandemic has started witnessing growth
Representational image. AFP
With the intensity of the COVID-19 pandemic receding across the world, industries have started functioning again in full force. The hotel and restaurant sector, which was among the worst-affected industries during the pandemic, has also started witnessing growth. The sector is expected to go through a major boom in the coming time as people are extensively going out and visiting different restaurants, cafes as well as hotels, which came to a halt in the last two years. In a bid to make the most out of the recent growth in the industry, Speciality Restaurants, which owns and operates famous brands like Mainland China, Oh! Calcutta and Hoppipola, have been planning to expand their business and further open up more restaurants and cloud kitchens in the next one year.
As stated by Anjan Chatterjee, the founder and managing director of Speciality Restaurants, the decision has been taken to earn more profits. “All decisions are being made on the basis of store metrics and return on investment”, he said to Financial Times, further adding that there has been a growth in footfall at restaurants and demand for more food delivery options.
As a part of this, while the company is planning to set up at least six new dine-in restaurants across various formats in domestic and overseas locations, it will also open 30 cloud kitchens in the next 18 months with keeping its food on the delivery model.
While talking to reporters on Thursday, Anjan Chatterjee divulged further details about the company plans and said that it will at least open two dine-in restaurants in the UAE and one in London, while 20 to 30 cloud kitchens will be established across India to tap into the food delivery segment. In addition to that, he also added that the company is ready to enter the ready-to-cook segment and will launch a range of products including Chinese sauces among other items.
Speciality Restaurants to expand their delivery model: MD
Stating that their dine-in restaurants had resorted to a delivery model during the COVID-19 pandemic, Chatterjee claimed that the practice still continues to remain stable. “Expanding the delivery model works pretty well for the company as the capital requirement is low”, he said while adding that the profitability comes at a large scale from the hybrid model.
On the other hand, he also claimed that the current footfall at restaurants has increased as the food industry remains in a thriving mode and is expected to grow more with people moving to ‘revenge eating’.
Notably, as of now, the company operates a total of 80 restaurants along with 37 confectionery stores across India, UAE, and London.
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Source: https://www.firstpost.com/business/mainland-china-oh-calcutta-owner-plans-to-expand-business-to-open-6-more-restaurants-in-18-months-11266671.html
