Posh eat-outs open defying market gloom

At least six fine-dine restaurants start business in Bangalore in the last three months. Owners are upbeat, and say they'll build loyal customers now and reap profits later

Posh eat-outs open defying market gloom

At least six fine-dine restaurants start business in Bangalore in the last three months. Owners are upbeat, and say they'll build loyal customers now and reap profits later

New fine dine restaurants are opening in Bangalore, defying the impression that recession has hit the business hard.

At least six places have thrown their doors open to foodies in the last three months. Some restaurateurs are attracted by never-before low rents, but most are just going ahead with plans they had finalised before the slowdown.

Abhijit Saha, chef and owner Caperberry restaurant on Dickenson Road, said, "I firmly believe when you do a good product, there is no good or bad time."

He believes the human craving for good things will never fade but wishes he had opened the restaurant a little earlier, before the slowdown hit the economy.

In fact, he says, "Ours is a 70 seating capacity. Weekends we are full house and weekdays we do an average of 40 to 50 people." It's only the lunch crowd that's really low, said Abhijit.

Bad for art

Aarti Rao Shetty, who started the fine-dine Highnote and a bar called BFlat in February, had similar concerns.
"Thoughts of recession did cross our mind. But it's only the art galleries that have been affected, and you'd probably see only one painting with a sold tag out of the many on display," she told MiD DAY.

Overall, she believes, it's not so bad for the eating-out business. "Look at Indiranagar. All the restaurants and pubs are packed," she said. About her own Highnote, she says: "We have a seating capacity of 130 and are going full capacity as our pricing is very good."

Sunil Shetty, partner, Highnote, said, "The 11.30 pm deadline and the no-dancing rule have affected the industry more than any recession . The rules are absurd."

Shibu Thomas, owner of F Bar and Kitchen on St Mark's Road, which was launched in January, agrees this isn't the best time to start a business.

"Two years back would have been ideal. When we started our project, the economy was fine, but by the time we completed it, recession had hit us," he said. He estimates the fall in business at about 15 to 20 per cent.

Family dinners

Carl Ferns and Roger Hessing of Via Milano restaurant in Koramangala, said, "Recession has set in. But we had planned to take over Colonial on Vittal Mallya Road a little while ago, so went ahead with our plans."

He heard from a health official that 55 places had closed down. "For us, corporate diners have come down... but family outings are happening," he told MiD DAY.

Karl Ferns of Colonial says, "Our restaurant capacity is around 90. Sometimes its 50, sometimes between 60 and 80. Our average ranges between 50 and 80. Our lounge bar the martini bar is always full even on weekdays."

"Recession or no recession, people still eat food right", says Sridhar, business head, F&B, St. Marks Road. "I know the recession has hit us hard, but the business is going to bounce back harder."

Business has come down by 10-15 per cent, he admits, but the loyalty factor keeps bringing customers back. "We have not brought down our prices, but have introduced packages," he said.

Curious upswing

Preet Inder Singh, business head of Ottera Hotel, in Electronic City, has a different story to tell. "It might be surprising, but we have seen an upswing in these hard times. The secret is that we are very competitively priced and have a great location advantage."

Almost everyone in the business agrees returns on investment have not been so great so far, but they aren't looking at profits right away. As Singh said, "This is the time to build loyal and happy customers."

Sheela, a regular diner at posh restaurants, said, "I still like to go out on weekends for a nice lunch or dinner with family. We have stopped going out on weekdays, but weekends we don't mind spending a little bit."

Zuri and Fortune are two hotels that opened recently.