More than half of restaurant operators said it would be a year or more before business conditions return to normal, according to a newly-released National Restaurant Association's 2022 State of the Restaurant Industry report.
Food, labor, and occupancy costs are expected to remain elevated, and continue to impact restaurant profit margins in 2022. Labor, in fact, is forecast as the industry's top challenge this year.
Additionally, 51 percent of adults say they aren't eating at restaurants as often as they would like, which is an increase of six percentage points from before the pandemic.
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