Ryan O’Donnell Discusses with Hartford Business Journal Ways Successful Restaurants are Coping with Inflation

The U.S. Bureau of Labor Statistics reported the current annual rate of inflation at 4%, well above pre-pandemic levels, which has been difficult for Connecticut businesses. Ryan O'Donnell, chair of Pullman & Comley's Hospitality practice group, spoke with Hartford Business Journal about his experience working with restaurants that have faced significant challenges due to inflation.

With high costs of food and labor being the top issues his clients face, rising costs pose a significant thread to profitability. Ryan suggests ways to soften the blow of increased menu prices, which is inevitable in cases like this. "The most successful restaurants I’ve seen are the ones where owners are taking a hands-on approach on the ground floor, talking to customers, and going out of their way to enhance the guest experience so that if menu costs are ticking up a little bit, guests are still going away very satisfied, perhaps even more satisfied than they were before those costs went up,” Ryan said.

Ryan also points out that restaurants are still dealing with labor shortages following the pandemic, so finding ways to support employees during inflationary times is important. Without increasing wages, some businesses can come up with creative ways to improve morale and support staff to retain top talent. 

To read the full article, please visit the Hartford Business Journal website.