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Restaurants See Strong New Year’s Eve Sales Despite Economic Concerns

  • 03 Jan 2025 03:00 AM
  • NewYearsEveSales, RestaurantTrends2024, DiningTrends, InstagramFood

This New Year’s Eve marked a remarkable recovery for the restaurant industry, with occupancy rates 15-30% higher than last year, defying concerns of low consumer spending amidst persistent inflation. Many dining spots reported record-breaking sales and packed houses, especially on December 31.

Zorawar Kalra, founder of Massive Restaurants Pvt., mentioned that several of their chains achieved "all-time high" sales. Rajit Shetty from the Ramee Group of Hotels also noted that occupancy was at 90-95% in prime Mumbai locations like Bandra and Dadar, with footfall increasing by 15-20%.

Though many restaurants were bustling till late into the night, some restaurateurs noted that sales could have been higher if New Year’s Eve had fallen on a weekend instead of a weekday. Pradeep Shetty, VP of the Federation of Hotel & Restaurant Associations of India, mentioned a 25% uptick in sales but added that weekends could have driven better results.

A social media post claiming low crowds in Goa sparked a debate about a "bleak tourism" season, but restaurateurs disputed this, claiming Goa was "fully packed" as usual, with restaurants reporting high occupancy levels.

This year, the dining experience on New Year's Eve also shifted from traditional party scenes to more mindful celebrations. Many patrons chose fine dining options with premium drinks and gourmet food in a relaxed atmosphere. Akshay Shetty of CrayCraft in Mumbai and Shashank Shetty of Tipsy Tiger Bar in Goa observed the shift towards mindful celebrations, with young guests joining in this trend.

Restaurateurs also highlighted an increasing interest in curated dining experiences, with guests opting for tasting menus paired with premium wines. Cities like Ahmedabad also celebrated with enthusiasm, reflecting an emerging trend of culinary exploration and Instagram-worthy food presentations, as seen at Laurel by Flavors, where the restaurant exceeded its New Year’s Eve expectations.

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