The National Restaurant Association released new survey data highlighting the impact the Restaurant Revitalization Fund (RRF) had on the industry. In a letter to Congress, the Association highlighted that the first round of RRF funding saved more than 900,000 jobs and helped 96% of recipients of a grant stay in business.
The survey also found that:
- Nearly 50% of restaurant operators that did not receive RRF grants feel it’s unlikely that they will stay in business beyond the pandemic without a grant.
- 94% of restaurant operators that applied for an RRF grant, but did not receive funding, said a future grant would enable them to retain or hire back employees.
“Our own estimates indicate that replenishing the RRF would save an additional 1.6 million restaurant jobs,” said Sean Kennedy, executive vice president for Public Affairs at the National Restaurant Association. “The RRF was a critical lifeline to many, but far more remain on the sidelines, desperately looking for support amidst continued economic uncertainty. The decisions you make in the coming weeks will be critical toward the future of the restaurants that are so proud to serve your communities.”
In addition, the survey states:
- 88% of restaurants experienced a decline in customer demand for indoor on-premises dining in because of the omicron variant.
- 76% of operators report that business conditions are worse now than three months ago.
- 74% say their restaurant is less profitable now than it was before the pandemic.
The National Restaurant Association Research Group conducted the COVID-19 Restaurant Impact Survey of 4,200 restaurant operators Jan. 16-18, 2022. Read the report of key findings here, or click here to read the full letter to Congress.
