America‘s Commercial Real Estate Show Restaurants & Real Estate with Darren Tristano
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May 16, 2025 Darren Tristano, CEO of Foodservice Results, shares his expertise on the restaurant industry's performance and trends. He discusses the post-COVID landscape, revealing how fast-casual spots outshine casual dining. The conversation dives into the impact of immigration policies on labor shortages and the financial pressures from rising rents and tariffs. Tristano also emphasizes the need for innovative marketing strategies to attract customers in a competitive environment. A must-listen for anyone curious about restaurants and real estate!
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Restaurant Industry Struggles Post-COVID
- Restaurants are struggling with lower traffic but higher spend per visit. - Revenue growth is only modest, barely outpacing inflation, indicating a challenging environment.
Winners and Losers in Restaurant Types
- Fast casual restaurants lead due to better quality and consumer willingness to pay. - Casual and family dining struggle as older generations age out and younger customers want contemporary options.
Wing Restaurants' Evolution Example
- Newer wing-focused restaurants like Tilted Kilt filled spaces left by older chains like Bennigan's. - These contemporary spots attracted both men and women with enhanced atmosphere and technology.