Restaurants

Fast Food Dominates Dine Out Market

A new study by Bord Bia shows that fast food and takeaways dominate the €6.13bn Irish catering industry.

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In fact we spend €2.38bn or 38pc of our eating out budget in "quick service" restaurants and fast food is the fastest growing sector as customers watch their wallets.

By contrast just 11pc or €687m is spent in full service restaurants, a Bord Bia conference in Dublin on the food service sector will be told today.

Meanwhile 6.4pc is spent in hotels and 5.6pc in coffee shops, with another 4.6pc spent in workplace canteens.

But though the decline of Irish pubs has been much lamented, they're now very important places to eat accounting for over €1.5bn or a quarter of how much we spend on food.

Nine Retain Michelin Stars

Patrick Guilbaud (pictured with Guillaume Lebrun and Stephane Robin) may have quietly raised two fingers last evening (a-la Helen Mirren in 'The One Hundred Foot Journey') when a call revealed

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that his restaurant had again retained two Michelin stars.

Indeed all nine of Ireland's Michelin star restaurants will be pleased at the 'no change' results this year, although some star-seekeers will be disappointed.

All of Ireland’s nine Michelin star restaurants have retained their status.

Restaurant Patrick Guilbaud, at the Merrion Hotel in Dublin, remains the only two-star establishment in the countrywhile single stars are held by Thornton’s at the Fitzwilliam Hotel, Chapter One, and L’Ecrivain, all in Dublin City, Bon Appetit in Malahide, Campagne in Kilkenny City and the Lady Helen at Mount Juliet Hotel, the Cliff House Hotel, Ardmore, Co Waterford, and Aniar Restaurant at Lower Dominic St in Galway City.

Twelve restaurants have been awarded the Michelin Bib Gourmand including Etto on Merrion Row Dublin.

RAI Seeks 9% VAT Extension

The Restaurants Association of Ireland has called on the Government to retain the 9% Vat rate until the economic recovery is more sustainable.

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The reduction in the Vat rate from 13.5% to 9% for the tourism sector in 2011 has so far created 31,584 jobs and generated huge revenues for the Government, according to the RAI.

A total of 21,633 direct jobs have been created and 9,951 indirect jobs, which has results in €433m in social welfare payments and an increased $103m in payroll taxes.

“The reduction of Vat on food and tourism services from 13.5% to 9% has been a resounding success since its implementation by Government in July 2011. On behalf of the Restaurants Association of Ireland I wholeheartedly welcome the 31,584 new jobs created as a result of the lower rate of Vat, as outlined in the following report,” said RAI chief executive, Adrian Cummins.

Chapter One Profits

New accounts filed by Lindley Ltd, which operates Chapter One on Dublin's Parnell Square, show that the firm's accumulated profits increased by €12,776 to €290,239 in the 12 mo

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nths to the end of February this year.

The firm's cash increased by 42pc to €975,717 during the year.

The restaurant opened in 1992 in the basement of the Dublin Writers' Museum.

Small Loss at Thorntons

Kevin Thornton's restaurant at the Fitzwilliam posted a small loss in 2013.

Abridged accounts filed with the Companies Office by Conted Ltd, trading as Thornton’s Restaurant, show that the business recorded an after-tax loss of €5,631 in the 12 months to the end of August, after recording a loss of €9,504 in 2012.