Restaurant Industry Making A Comeback

The restaurant industry is finally working its way out of the economic slump. Restaurant owners are reporting greater sales, up to 10%, even on the menu's most expensive items. Restaurant owners are crediting the hike in business to several factors. These include an increase in tourism, warm weather, summer travel, and increased spending.

Although warm weather has attributed to much of the success these past few months, restaurant owners still have high expectations for the months to follow. With rent decreasing 35% this year, more people are looking to expand and open new restaurant businesses. With these new openings, more jobs are being created. Barbara Byrne Denham, a chief economist said restaurants have created almost 6,000 jobs this year.

Although the most expensive products aren't being ordered to stock the restaurant's kitchens, food sales alone have doubled in the last two months. With more customers, many of whom are willing to spend more money, restaraunt owners have seen increased sales which have continued to go up since the first quarter with reports of up to 25%.

Prices on restaurants menus are finally rising after being drastically lowered. Chef and owner David Burke stated that his current Sunday special which previously ran for $25 is currently selling for $35 and will hopefully go for $40 by next year. Wine is currently being sold at almost $115 a bottle, whereas last year it was at only $90. With all aspects of business on the rise, the restaurant business is slowly making their way to a full recovery.