At a glance
Across the board, restaurants and hospitality companies face
greater scrutiny from consumers over whether they want to spend
their money. More than 4 in 10 consumers say they feel significant
financial anxiety. Shifting lifestyles are influencing how often
they travel and dine out.
While a third of consumers say they are reducing restaurant
spending due to financial constraints, nearly 70% report cutting
back for other reasons. Many feel the quality of food isn't
there for the price. Some are happy to pay more despite a tight
budget to get the experience they desire, cutting back on frequency
even when they aren't trading down.
While travelers are also cutting back on the frequency of trips,
they continue to value quality and comfort when they do spend,
fueling strong performance in the luxury segment. High-end hotel
groups such as Four Seasons and Aman are seeing robust demand,
while budget and midscale properties—often reliant on
cost-conscious
