The hospitality industry, which was among the hardest hit industries during the pandemic, has begun to experience growth
Representative image. AFP
With the decrease in the intensity of the COVID-19 pandemic across the world, industries have started to operate fully again. The hotel and restaurant sector, which was among the hardest hit industries during the pandemic, has also started to see growth. The sector is expected to experience a major boom in the coming years as people go out a lot and visit different restaurants, cafes and hotels, which have come to a standstill in the past couple of years. In an effort to make the most of recent industry growth, Specialty Restaurants, which owns and operates famous brands like mainland China, Oh! Calcutta and Hoppipola have plans to expand their operations and open more restaurants and cloud kitchens in the next year.
As Anjan Chatterjee, Founder and Managing Director of Specialty Restaurants, said, the decision was made to make more profit. “All decisions are made based on store metrics and return on investment,” he told the Financial Times, further adding that there has been an increase in restaurant traffic and demand for more food delivery options.
As part of this, while the company plans to create at least six new catering restaurants in various formats in countries and abroad, it will also open 30 cloud kitchens over the next 18 months keeping its food at the delivery. model.
Speaking to reporters on Thursday, Anjan Chatterjee disclosed further details of the company’s plans and said it would open at least two restaurants in the United Arab Emirates and one in London, while 20 to 30 cloud kitchens will be established across India to operate in the food delivery segment. In addition to this, he also added that the company is ready to enter the ready-to-cook segment and will launch a product line including Chinese sauces among others.
Specialty restaurants to expand their delivery model: MD
Stating that their on-site restaurants have been using a delivery model during the COVID-19 pandemic, Chatterjee said the practice continues to hold steady. “Expanding the delivery model works pretty well for the business because the capital requirement is low,” he said while adding that the profitability comes from the hybrid model at scale.
On the other hand, he also claimed that current restaurant traffic has increased as the food industry remains booming and is expected to grow further with people turning to “storefront”.
Notably, at present, the company operates a total of 80 restaurants as well as 37 confectioneries in India, UAE and London.