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– OpenTable Annual Report Posting PDF | PDF | Form 10 K | Business
Download Download PDF. Translate PDF. The study found that sit- industry; coronavirus in guests dropped to zero in many countries as governments across the world instituted social distancing initiatives, movement restrictions and lockdowns. COVID also led to an unprecedented loss of employment and revenue, resulting in millions of jobs and billions of dollars in potential revenue lost.
It further recommends a raft of safety and health protocols as the industry gradually reopens. Introduction and research design The hospitality industry is an essential sector of the tourism industry.
We make use of data from OpenTable, an online restaurant reser- vation company, which is a sister company to Booking. Data used show year-over-year sited dinners at restaurants on the OpenTable network across all channels online, phone, and walk-in reservations. For year-over-year comparisons by day, we use the same day of the week from the same week in the previous year. The above countries account for the total of the 60,restaurant network.
In Australia, the industry is valued at about This was so given that most governments across the world instituted social distancing initiatives, movement restrictions and lock- downs to try and curb the spread of the COVID In most countries, apart from Aus- tralia, Germany and Mexico, there was a marked decline in sit-in bookings.
This was a stage only reached around the 23rd of March by Australia and Mexico. While some restaurants were able to operate and provide a delivery system, in other countries and states there was a total closure of restaurants. Countries that have been under strict lockdowns include Australia, Britain and within the USA states such as Washington, California, New Mexico, New York and Minnesota amongst a few others went under state lockdown between 19 and 25 March with a stay at home orders.
As of 15 May, about half of all the USA states had maintained a ban on dine-in restaurants. This plunged most restaurants into a liquidity crisis, and possible perma- nent closure if the pandemic persisted longer. Several restaurants also took steps to improve their public image through community philanthropy, whereby a proportion of their sales was donated to SARS-related causes.
While some of these measures are at a macro level, they include operations-level tactics, and paths restaurant operators can take in lobbying their regional legislators. While he found that it was difficult for restaurants to assuage risk concerns for most diners, there were significant differences between patron types.
For example, the study found that unmarried consumers tended to adopt lower levels of self-protective behavior in both epidemic crises. Ultimately, U. The purpose of this conceptual mixed-methods study was to explore and assess the perceptions and attitudes of South Carolina independent restaurant operators regarding the operational and economic effects of the COVID pandemic on their businesses in the spring of The first quantitative stage of the research centered around the development and distribution of an anonymous online survey.
The survey respondents were asked about the number of units they operated, sales volume, number of employees, and service systems—pre- and post-pandemic—as well as actions taken to remain viable under pandemic conditions and restrictions.
Insights regarding the long-term sustainability of their individual businesses and the U. A link to the survey, and a request that respondents contact the survey authors for a follow-up interview, was disseminated to independent restaurant operators across South Carolina through the assistance of local administrative and governmental bodies e. Due to the expedited timeline for the special edition, the survey was only open to respondents for a 5-week period May 4th — June 8th, This qualitative stage employed 12 semi-structured post-survey interviews of respondents that contacted the authors to further explore and explain the research questions.
Interviewees operated restaurants in coastal regions Charleston, and Myrtle Beach , the midlands Columbia , and the upstate Greenville, and Greenwood. Interviews are suitable for generating deep insights into a topic and to gain a better understanding about attitudes and opinions of interviewees Rowley, Semi-structured interviews employ a set of well-designed open-ended questions but do not prevent the interviewer from asking follow-up questions to clarify interviewee responses and explore mentioned themes in more detail.
Moreover, semi-structured interviews allow the interviewer to account for newly emerging themes that were not considered or mentioned before Rowley, The first stage of the research analyzed the survey results. The survey screened out any respondents that did not reply to being independent full-service restaurant operators. While the sample size is modest, it captures only independent full-service restaurant companies.
Also, the survey was disseminated just as restaurants were permitted to reopen, which was likely an exceedingly busy time for potential respondents. All the restaurants were full-service sit-down restaurants prior to the outbreak of the pandemic. Attributes with frequencies that do not equal 53 include missing value. Next the survey queried the impact of the COVID pandemic on operational conditions, which are reported in Table 3 , below.
It also appears that most Services provided allowed the respondent to check all that applied. The respondents were asked about their feelings regarding whether health safety protocols should be set by the CDC or the SC-DHEC, or, whether each operator should decide when and how safety protocols should be administered. The survey included items querying how the independent restaurant operators felt the COVID business restrictions e.
The researchers wanted to know what remedies would help the independent restaurant operators survive the pandemic. Table 5 reports what financial assistance programs the operators would likely seek out and what conditions must occur. Respondents were asked to select all that applied. Finally, and perhaps most importantly, independent restaurant operators were asked whether they believe their businesses, and the hospitality and tourism industry at large, would eventually recover to pre-pandemic levels within the next 18—24 months.
Restaurant operators were optimistic about their businesses more than they were about a full recovery of the hospitality and tourism industries at large. The data from the respondents demonstrated mixed results in terms of the likelihood of sustaining operations under continual restrictions of social distancing suggested by governmental agencies.
As the pandemic continues, challenges will likely increase in the areas of revenue generation, employability, growth, and financial solvency. Most independent restaurant operators concur that further assistance programs and financial relief programs need to be supplied by state and federal governments in order to sustain their businesses.
This supports the literature from McGurran and Smith ; regarding government and economic relief programs such as the CARES Act, that are designed to aid small businesses in relation to their overall economic viability during the pandemic. Data indicated, that with governmental assistance, respondents were reasonably optimistic about their operations weathering the economic complexities of the pandemic.
They felt the outlook for the restaurant industry will eventually brighten over an extended post-pandemic period. However, respondents suggested that if a second shutdown were to occur, in the wake of another COVD surge, the likelihood of reopening or starting a new business profoundly lessens.
A sample of 12 post-interview subjects, from several different locations throughout the state, were identified and asked a series of questions to further explain the research questions. The responses from these interviews, along with the data from the survey itself, allowed for a broader explanation and understanding of the research questions themselves.
In addressing each of the following research questions individually, one can understand and further evaluate the overall size and scope of the economic events during the pandemic, which impacted independent restaurant operators and shaped their attitudes and perceptions regarding their operations:. Based on the survey results, the short answer would be yes.
Overarching responses from the semi-structured interviews echoed similar sentiments. All of survey respondents operated full-service indoor seating operations before the pandemic.
This included outdoor sit-down service and increased take-out services beyond minimal or nonexistent indoor table service. Post survey interviewees also favored governmental guidance. Not following CDC guidelines as a citizen will only make the situation worse longer term. All interviewees concurred that a continued reduction in customer counts and sales volumes will result in inevitable financial insolvency.
If conditions continue or worsen over the next three months, I will not have enough revenue coming in to cover these costs and I will be forced to close. I am simply operating under cash reserves at the moment. I am unsure however, if I could even qualify or gain access to another round of stimulus loans.
I was unable to obtain any the previous round. The survey respondents were largely pessimistic in addressing this research question. This was further supported by all interview participants, who suggested that their operations would be unable to return from a second mandated shutdown. This along, with paying back invoices prior to the first shutdown.
Interview subjects that operated units in predominantly high tourism destinations with increased competition and reliance on high population density, substantiated these responses. Interviewees from these locations e. Charleston or Myrtle Beach said they will not be able to remain fiscally viable if tourism levels do not increase. This includes seasonal customers along with conventioneers and group tours.
We were able to maintain operations at one of our locations in the area during the two month closure by providing some catering services of pre-packaged lunches to local golf courses, but that is not nearly enough to sustain our business long term if tourism traffic does not significantly increase over this summer.
Overall, results from the survey and interviews were mixed regarding this research question. When examining the survey results over the roughly one-month of data collection, it was observed that pessimism and negative responses grew as the time period of survey collection continued.
Initial survey responses to the question were highly affirmative regarding a positive outlook but continued a downward trend as time and additional survey responses were recorded. This was also substantiated by the latter post-survey interviews, which largely had a negative outlook for the hospitality and tourism industry in the future.
Even if social distancing practices go away with the advent of a vaccine, or something, consumer confidence will still be very slow to return. The literature review provides a concise overview of the COVID pandemic and crisis management tactics that helped restaurants to survive prior epidemics Tse and Leo Sin, Extrapolating its quantitative and qualitative results is also instructive. One interviewee discussed acquiring a food truck to expand outside off-premise sales.
Given this, independent restaurant operators would be advised to further expand carry-out, curbside pickup, delivery, and outside off-premise catering, and even home meal replacement programs e. Unemployment rates have gone from Bureau of Labor Statistics, While restaurant operators struggled to recruit quality hires prior to the pandemic, now skilled workers are in abundance. Independent restaurant operators would be wise to employ these, now available, skilled staff.
As noted in the literature review, restaurants can take steps to improve their social image through community philanthropy. Furthermore, independent restaurateurs could work with governmental health agencies to provide, for example, an official certificate of health safety.
These certificates could be posted on restaurant doors and advertisements to further boost consumer confidence. For example, South Carolina has a voluntary program called, Palmetto Priority, which allow restaurants that follow recommended health safety protocols, to put a designated eight-inch round decal in their window.
The NRA stated that the bill provides hope for U. However, local and state restaurant associations should be asked to provide education and training as to how to apply and navigate this and other financial assistance programs. Particularly in tourist regions, restaurants need hotel guests, and other drivers of tourism visitation e.
For example, restaurant operators can work with other hospitality and tourism businesses to create packages that benefit all involved. An objective of this research was to get useful information out expeditiously, for the special issue on COVID, so that other independent full-service restaurant operators could benefit early on, given the fluid nature of the pandemic.
As such, a limitation of this study was the curtailed data collection window, which resulted in modest sample size that mitigated inferential statistical analyses.
It is worth noting, however, that responses came from operators running 53 distinct independent restaurant companies, or approximately restaurant locations. Completion of the form is entirely voluntary. Whatever your decision, it will not be considered in the hiring process or thereafter. Any information that you do provide will be recorded and maintained in a confidential file. If you believe you belong to any of the categories of protected veterans listed below, please indicate by making the appropriate selection.
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– Product & Privacy Counsel, remote job at OpenTable in San Francisco, CA – Job Search
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