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Does New Orleans have too many restaurants?
Posted on 11/7/08 at 11:19 am
Posted on 11/7/08 at 11:19 am
I read everywhere that there are more restaurants now than before the storm, but population has leveled off at about 70% of pre-storm levels.
What will happen? Will it result in mass closings in a year or two? if so, will be a true cream of the crop situation that ends up resulting in an upgrade of overall quality of food in the city as poorly run places fail? Or, will it sustain?
Walking down magazine and seeing multiple "going out of business" signs in retail spots made me wonder about the future of the restaurant industry in the city.
What will happen? Will it result in mass closings in a year or two? if so, will be a true cream of the crop situation that ends up resulting in an upgrade of overall quality of food in the city as poorly run places fail? Or, will it sustain?
Walking down magazine and seeing multiple "going out of business" signs in retail spots made me wonder about the future of the restaurant industry in the city.
2
Posted on 11/7/08 at 1:03 pm to el tigre
I have felt that their are too many of the mid to higher level places for quite a while now.
As long as the business tourism market was doing fine and people were coming to visit and spend the company's money at these places, things were fine. Not so much anymore, so I say you should def. look for a big round of closings in the next 6 months to a year.
The price of food, insurance, rent, labor, etc has just gotten very bad.
You mention food quality and I hardly ever see that as an issue at the places I visit. Service issues are the bigger deal IMHO.
As long as the business tourism market was doing fine and people were coming to visit and spend the company's money at these places, things were fine. Not so much anymore, so I say you should def. look for a big round of closings in the next 6 months to a year.
The price of food, insurance, rent, labor, etc has just gotten very bad.
You mention food quality and I hardly ever see that as an issue at the places I visit. Service issues are the bigger deal IMHO.
Posted on 11/7/08 at 1:12 pm to el tigre
Over the past 2 years, New Orleans has a very low restaurant closure rate and a huge growth rate...it continues to defy conventional logic.
This is just my opinion, but I think that people really figured out what they valued the most about living in this city when everything was closed. Dining out was towards the top and so was drinking at bars...both have been unusually successful after the storm, and I dont think this is a coincidence. Also, the locals who came back were often those with a greater connection to New Orleans in their hearts (thus, making them a more likely demographic for dining out at said restaurants).
You cite population decrease, but we gained 150 restaurants post-Katrina despite that and tourism not quite reaching pre-K levels just yet.
It is the local people who came back and loved New Orleans in its darkest hour that has made this HUGE growth in restaurant population occur.
This is just my opinion, but I think that people really figured out what they valued the most about living in this city when everything was closed. Dining out was towards the top and so was drinking at bars...both have been unusually successful after the storm, and I dont think this is a coincidence. Also, the locals who came back were often those with a greater connection to New Orleans in their hearts (thus, making them a more likely demographic for dining out at said restaurants).
You cite population decrease, but we gained 150 restaurants post-Katrina despite that and tourism not quite reaching pre-K levels just yet.
It is the local people who came back and loved New Orleans in its darkest hour that has made this HUGE growth in restaurant population occur.
Posted on 11/7/08 at 1:25 pm to footballislife
quote:
The price of food, insurance, rent, labor, etc has just gotten very bad.
that was my concern.
I am wondering how they will all survive when the goodwill wears off. By goodwill i mean the thousands of out of town workers/volunteers that have been coming here and spending money, as well as "emotional tourists" that want to come here to gawk/help. When that runs dry, combined with this tough economy and a smaller population, i don't see how we can avoid a rash of closures. I just hope the right places close.
Posted on 11/7/08 at 1:28 pm to el tigre
Well said T.A. - couldn't agree with you more on this. 
Posted on 11/7/08 at 1:28 pm to Tiger Attorney
quote:
This is just my opinion, but I think that people really figured out what they valued the most about living in this city when everything was closed. Dining out was towards the top and so was drinking at bars...both have been unusually successful after the storm, and I dont think this is a coincidence. Also, the locals who came back were often those with a greater connection to New Orleans in their hearts (thus, making them a more likely demographic for dining out at said restaurants).
perhaps, but in a terrible economy and uncertainty about the future, how long can they keep this up? I really think a lot of the spike is due to out of towners coming here to help/vacation/work.
Posted on 11/7/08 at 2:34 pm to el tigre
This is a fantastic problem to have.
Posted on 11/7/08 at 2:59 pm to Solo
for the diner, it's great.
i'm just worried about some of these small business owners.
i'm just worried about some of these small business owners.
Posted on 11/7/08 at 3:21 pm to el tigre
Well, just going by odds, they can't all succeed, so some of them will have to close or change their business plan or location.
Posted on 11/7/08 at 4:38 pm to Tiger Attorney
quote:
...it continues to defy conventional logic.
Not really. The city (at last count) is back to 80 percent pre storm levels. I woudl venture to bet that the east and the lower nine are only back to about 20 percent pre storm levels. In the city of New Orleans you simply have more people with disposable income than before the storm.
Posted on 11/7/08 at 8:15 pm to el tigre
Even though in a lot of Louisiana's people's minds, New Orleans is expensive. It actually is not expensive as a vacation destination in relation to other cities. You can get world class dining and culture at a fraction of the price of other cities.
Posted on 11/7/08 at 8:24 pm to Dantsnchick
quote:
It actually is not expensive as a vacation destination in relation to other cities.
Yeah, it took me a while to realize that as well. After recent trips to Vegas, Seattle, and Destin, I don't complain about the restaurant prices in N.O. any more.
Posted on 11/9/08 at 5:46 pm to footballislife
It is definitely a curiosity. I'm not as concerned with the potential for an outright recession of the industry ala mass closures, but I am intrigued as to when the pace of new openings will inflect to a slower rate. To me, that would indicate a more truer depiction of the city moving into a stable economic situation, rather than the always-sketchy population figures.
Posted on 11/12/08 at 12:23 pm to kfizzle85
There is a good article in the Gambit Weekly this week that reports on the struggles that so many restaurants are having right now.
Of particuliar interest to me was the interview with Frank Brightsen. September was his worst month in 22 years and he has recently had to borrow money to cover operating cost for the first time ever.
Of particuliar interest to me was the interview with Frank Brightsen. September was his worst month in 22 years and he has recently had to borrow money to cover operating cost for the first time ever.
Posted on 11/12/08 at 12:26 pm to footballislife
i'll check it out. Even Stella! wasn't 100% full last friday. i was surprised. Thanks.
Posted on 11/12/08 at 1:27 pm to footballislife
Saw that article too. Hotel occupancy is about to fall off a cliff next year. NOLa will feel the recession as much as any other place, unfortunately, and we definitely don't have the local cash to keep this many restaurants afloat. I'm revising my previous post, I fully expect a ton of closings over the next year. Hopefully we don't lose too many gems.
Posted on 11/12/08 at 10:30 pm to kfizzle85
They have way too many for a city that's on an inevitable decline.
Baton Rouge for life!
Baton Rouge for life!
Posted on 11/13/08 at 9:06 am to Paul Allen
quote:
They have way too many for a city that's on an inevitable decline.
Baton Rouge for life!
JFC. Paul, you suck at life.
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