First it was Brexit and Covid. Now it’s inflation and energy bills. Even napkins cost more – and diners are cutting back. How will hospitality adapt to an uncertain future?
On Saturday 20 August, Bristol’s Casamia restaurant finished its final service after 23 years in business. “I’m 36 and most of my life has been Casamia,” says the chef-owner, Peter Sanchez-Iglesias, who, with his brother Jonray, turned what was previously their parents’ suburban Italian into a Michelin-starred destination. “But with my brother [who died in 2015, aged 32], I know life is short. Things can be taken away from you quickly and I’m not going to keep Casamia just to boost my ego. Nothing lasts for ever.”
Pre-pandemic, Casamia was “just breaking even”, struggling to hit the industry standard gross profit margin of 70%. That is not unknown in fine dining. Such labour-intensive treatment of costly ingredients for small numbers of guests is a financially precarious form of self-expression.
