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NOLA Dining Scene in Six Months?
Posted on 4/30/20 at 7:45 am
Posted on 4/30/20 at 7:45 am
After no conventions, no festivals, no large gatherings...
Tell me, Orleans Parish residents, what will you have?
And be honest.
Tell me, Orleans Parish residents, what will you have?
And be honest.
6
Posted on 4/30/20 at 7:50 am to OTIS2
Well you are kind of stating the obvious. We will lose about 25% of our restaurants.
Lot's of places will recover and do just fine, especially neighborhood places in uptown, etc.
Lot's of places will recover and do just fine, especially neighborhood places in uptown, etc.
Posted on 4/30/20 at 8:38 am to notiger1997
I'm no economist, but I think the acute mortality rate for food services ...for this year...will be closer to 50% than 25% if the current city plan for "reopening" stays in place.
I sure hope not, of course. NOLA must have tourism return within the year. Absolute necessity.
I sure hope not, of course. NOLA must have tourism return within the year. Absolute necessity.
Posted on 4/30/20 at 8:46 am to OTIS2
Most years, the summer months see many surprising restaurant closings. I can only imagine how many will close when summer extends to next spring.
It will be a blood bath.
It will be a blood bath.
Posted on 4/30/20 at 8:48 am to ruzil
quote:
It will be a blood bath.
Yep.
I took a bike ride all through the quarter and CBD last weekend and it hit me that we have a shitton of places that depend on tourist. I knew it, but seeing everything closed just made it more real.
Posted on 4/30/20 at 9:01 am to notiger1997
Some of those in the quarter have deeper pockets and can choose to stay down for a bit longer. They aren't paying staff or buying product.
Their hiatus will just last longer until they come back.
Their hiatus will just last longer until they come back.
Posted on 4/30/20 at 10:15 am to fightin tigers
quote:
Some of those in the quarter have deeper pockets and can choose to stay down for a bit longer. They aren't paying staff or buying product.
Yes--this is certainly true. Just bc places don't reopen quickly doesn't mean they're truly dead. Some have favorable leases or landlords who are working with them, others own their own premises. They're gonna wait until things are a bit more settled before reopening.
Still others are adjusting their business plans to allow for more takeout, or selling of meal kits/family meals to go, or looking at patio dining options.
Frankly, I think more bar closures will be likely.
Posted on 4/30/20 at 11:04 am to hungryone
I agree. "Window shopping" places will certainly be hurt, you know the places that people go into to kill time/wander and end up buying stuff.
Posted on 4/30/20 at 11:50 am to hungryone
quote:
Some have favorable leases or landlords who are working with them, others own their own premises.
Right, this is what I’m thinking
I know paying rent isn’t the only factor or expense, but if landlords don’t work with restaurants, who else is going to fill vacant spaces?
If the economy is bad, no one is starting new business or moving existing ones.
I think landlords are going to have no choice but to work with restaurants.
It’s another question on whether they can survive in this economy. But I tend to believe Nola will rally as best they can to help support these places
Posted on 4/30/20 at 12:06 pm to Lester Earl
I agree, Lester. If the restaurants fail and the economy remains in a slump, there won't be many people looking to lease the space. Ideally, restaurants and landlords have a mutually beneficial relationship.
Posted on 4/30/20 at 1:34 pm to Lester Earl
quote:
I think landlords are going to have no choice but to work with restaurants.
You would be surprised. A lot of landlords would rather sit on an empty building than give someone a deal, especially if the landlord doesn't have a mortgage.
Posted on 4/30/20 at 1:35 pm to OTIS2
Your traditional places will ride it out.
I think a lot of your newer/trendier places are going to get hurt. Places that cater to tourists (I'm looking at you, Oceana Grill) will be hurt.
A number of places will close down, but may pop up with new names and new locations in 18-24 months.
I think a lot of your newer/trendier places are going to get hurt. Places that cater to tourists (I'm looking at you, Oceana Grill) will be hurt.
A number of places will close down, but may pop up with new names and new locations in 18-24 months.
Posted on 4/30/20 at 2:14 pm to LSUFanHouston
New name, new location, new concept. Who knows what kind of interesting stuff might be around the corner. But those crap joints living off of the tourist dime in the quarter will be back eventually, in some shape or form, when the tourists return.
One thing about restaurants: they’re not the hardest businesses to mothball and restart. Compared to a factory, or a specialized service business.
One thing about restaurants: they’re not the hardest businesses to mothball and restart. Compared to a factory, or a specialized service business.
Posted on 4/30/20 at 6:37 pm to LSUFanHouston
quote:
Places that cater to tourists (I'm looking at you, Oceana Grill)
When Petunia’s closed and they got their breakfast folks it was a fantastic meal. Now..
Posted on 4/30/20 at 6:41 pm to OTIS2
There were people that said we would never recover from Katrina. Almost every single restaurant was under water.
And we came back stronger. I think we will be just fine.
And we came back stronger. I think we will be just fine.
Posted on 4/30/20 at 7:07 pm to WaWaWeeWa
quote:
There were people that said we would never recover from Katrina. Almost every single restaurant was under water.
And we came back stronger. I think we will be just fine.
Spot on. I feel like the doom and gloom projections on here are a bit overstated.
Posted on 4/30/20 at 7:37 pm to OTIS2
quote:
I'm no economist, but I think the acute mortality rate for food services ...for this year...will be closer to 50% than 25% if the current city plan for "reopening" stays in place.
From the get go ive heard about 50% aren’t capitalized to handle this. We will see how far it stretches and what bailouts look like but I think half is fair with a lot of new openings in the year to follow.
Posted on 4/30/20 at 7:50 pm to WaWaWeeWa
We will be back no doubt. I’m just saying the next 6 months will be horrible
Posted on 4/30/20 at 8:59 pm to ruzil
quote:Agreed. I wonder how many restaurants were able to get the PPP “loan”
It will be a bloodbath
This post was edited on 4/30/20 at 9:00 pm
Posted on 4/30/20 at 9:21 pm to WaWaWeeWa
quote:
There were people that said we would never recover from Katrina. Almost every single restaurant was under water. And we came back stronger. I think we will be just fine.
During Katrina the Gulf Coast was jacked up. The rest of the country was fine. When it got rebuilt and opened back up people came rushing back. This is different. Stigmas are being put on places and the whole country is gun shy. I hope I am completely wrong and everything bounces back but I’m not so sure it will, at least for a long while.
This post was edited on 4/30/20 at 9:22 pm
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