Market Watch, Summer 2020

SUMMER 2020 MARKETW ATCHMAG COM MARKET WATCH 29 ment the restaurants takeout tapas and paellas and its newly created Spanish Market which allows guests to buy premium imported products from cured meats and paella ingredients to Spanish wines and beers Telefèric Barcelona had to lay off roughly half its staff due to the pandemic closures though both venues are now open for outdoor dining Restaurants have always been places to gather with family and friends but as the world evolves we need to adapt and build new business paths so we can provide our services to more people says Telefèric Barcelona Group owner and founder Xavi Padrosa I hope that by mid summer restaurants will be operating Itll be wonderful to see people enjoying themselves in bars again Fundraising Surge Many companies that have had to lay off employees have started fundraising efforts to support their displaced staff and local communities Boston based Big Night Entertainment Group which operates 18 nightclubs and restaurants in Massachusetts and Connecticut went from having roughly 1500 employees to just 33 during lockdown The company created its B Strong Fund to help and raised more than 330000 in two months largely through virtual fundraisers such as online auctions Money from the fund has gone to support Big Night employees buy crucial supplies for people in need in its venues communities and serve free community meals While many of Big Nights club spaces remain closed a handful of its restaurants are beginning to open with limited capacity seating in addition to offering takeout and delivery Tequila Cocina sold tacos and fajitas 6 22 to go during the pandemic as well as beer 10 a 6 pack wine 25 30 a 750 ml and cocktail kits that include everything but the alcohol for sangrias and Margaritas 12 25 The cocktail kits have been an exciting and interactive way for guests to enjoy our signature cocktails at home says Big Night principal Ed Kane We package up the drink mixes and include drinks vessels Were featuring easy to order standout cocktail mixes beers wines and sakes that we think will resonate with people at home As Big Night looks toward reopening Kane says the company will take a staggered approach and focus on safety protocols like social distancing sanitization and personal protective equipment PPE On premise operators of all sizes are working on similar measures Darden Restaurants which manages eight concepts and more than 1800 units nationwide began opening restaurants with limited capacity in some states in late April The venues have fully revised operating procedures from daily temperature checks and masks for all staff to reconfigured restaurant interiors that allow for 6 foot spacing between tables and contactless payment options As of the end of May Darden was operating about 65 of its dining rooms nationwide and executives estimated that company wide sales had dropped by roughly 45 this spring Baltimore based Atlas Restaurant Group an operator of 15 properties in Maryland Texas and Florida has also seen revenue decline by about 50 during the Covid 19 pandemic After initially shuttering all of its venues the company started reopening dining rooms and terraces in May first in Florida and Texas and then in Baltimore offering outdoor seating only In all Atlas furloughed 1000 employees Its venues which include Ouzo Bay Azumi The Elk Room and Loch Bar in greater Baltimore offered food and beverage takeout during lockdown as it slowly looked to rebuild sales The company has instituted a ten point safety and hygiene regimen that includes employee wellness checks required guest reservations limited guest party sizes table spacing and sanitation stations We feel its important to try to give guests the same experience they had prior to the pandemic says Atlas founder and president Alex Smith I think 2020 is a giant loss for all food and beverage outlets and a return to normalization will take time Our guests need to feel comfortable enough to come out and dine Were going above and beyond what states are mandating for businesses to reopen allowing guests and employees to be safe while we generate revenue mw Honey Salt restaurant in Las Vegas prepared meals for pickup and delivery top during the shutdown At California based Telefèric Barcelona sangria to go above has been popular