London’s remarkably resilient fine dining scene has enjoyed a “boom amid the gloom” over the past year with net openings at their highest since Brexit came into effect.
The capital’s restaurant sector has defied the crisis in the broader hospitality sector as ambitious operators continue to pour into the city now renowned as one of the world’s pre-eminent gastronomic powerhouses.
According to latest data compiled for the 35th edition of Harden’s London Restaurants there were 146 openings, up from 132, while the number of closures are down sharply from 84 to 64.
That leaves net openings at 82, nearly double the previous year figure of 48, and the highest since the 109 of 2017. It is the fourth highest level of net openings in the 35 year history of the guide.
Editor Peter Harden said the encouraging figures went against the conventional wisdom that the restaurant sector is completely bombed out. He said:”People are still chucking big money at London restaurant openings.”
Big name openings scheduled for the Autumn include Michael Caines at the Stafford, the London debut of the Michelin starred chef at Lympstone Manor and Gidleigh Park; Carbone, the New York Italian making its European debut at the Chancery Rosewood Hotel in Mayfair, and the long awaited return of Simpson’s in the Strand.
The guide’s editor Peter Harden said: “Gloomsterism grips the hospitality trade. Over the last year there has been a relentless bombardment of statements from bodies within the sector describing the dire state of the hospitality industry but – from what we’re seeing in London at least – this just doesn’t fit the facts!
He added: “We accept that our guide focuses on quality establishments rather than all hospitality outlets and that the growth rate we’re seeing says nothing about the current profitability of hospitality businesses, but that does not invalidate the general picture that there are healthy, bright spots within the country and the suggestion from our figures that investors scent future gains in backing these new openings.
“Our analysis is not to suggest that the restaurant trade is dreaming up the many big challenges facing it. National Insurance rises, post-Brexit visa issues, post-pandemic knock-ons, ever-greater employee protections and above-average food price inflation all make it harder than ever to balance the books.
“However, the number of quality restaurants that remain open in the capital is a positive sign that speaks to the tenacity and resourcefulness of those operating in the sector and clearly results in people still being prepared to invest in opening new ones. ”
However, the guide does also reveal a further rise in the relentlessly escalating cost of a meal out in London. The average bill per head rose 4.7% from £78.84 to £82.58.
The price increases were highest at the very top end of the dining firmament with bill inflation averaging 8.6% for those charging £150 or more a head and 6.8% in the £100 plus bracket.
In the very elite level of three Michelin star restaurants - a club that includes Alain Ducasse, Hélène Darroze, The Ledbury, Restaurant Gordon Ramsay, and Sketch - prices have soared by 65% in real terms over the past decade, or 130% in cash terms.
The guide rank’s Jason Atherton’s ROW on 5 with chef Spencer Metzger as the most important opening of the year.
Other notable launches this year, according to Harden’s, included Oma in Borough market and Cornus in Belgravia.
High profile closures included Launceston Place in Kensington and La Dame de Pic in Trinity Square in the City.
