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NYC Restaurant Owners Not Optimistic Following Pandemic Struggles

Outdoor Dining

Bar and restaurant owners in New York City are still struggling despite things starting to return to normal from the pandemic.

A New York Hospitality Alliance survey of three hundred restaurants shows about three out of four describe their outlook for the year as uncertain or concerned. Andrew Riggie with the Alliance says rising labor costs and inflation are their biggest challenges.

"Even restaurants that may have returned fortunately to their 2019 sales say their margins are so much smaller because the cost of doing business in New York City has gone up."

Half the respondents say during the holiday season they hosted fewer corporate events than the previous year and suffered big revenue loses.