After opening for outdoor dining following months of lockdowns and economic hardship, US restaurants are recovering, but at a glacial pace. Indeed, a new report by S&P Global Market Intelligence revealed that the recovery of sales and employment slowed down in August.
"August sales for the embattled industry fell about 15% from the year-ago period, leaving the US restaurant industry on pace to lose $240 billion in sales by the end of the year, according to the National Restaurant Association," revealed the S&P report, which was written by Michael O'Connor and Chris Hudgins.
The authors continue, "In the months ahead and likely into 2021, the US restaurant industry's recovery will continue to look more like a sluggish climb instead of the rebound to pre-COVID sales levels many are hoping for, according to a September 9 Black Box Intelligence report. The number of seated diners in the US was down 51% on September 15 on a year-over-year basis, the restaurant reservation platform OpenTable reported."
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
