State of the Restaurant Industry 2022

Restaurant operators ended 2021 feeling optimistic. Everyone was looking forward to a post-COVID world. And then 2022 presented a new headline problem — inflation.

While operators tried to cope with rising food prices and wage inflation, housing, grocery and gas increases cut into customer confidence. The industry is anxiously awaiting positive signs, but the threat of a Fed-induced recession is on the horizon. As always, though, smart operators and strong brands are positioned to prevail — especially in a world where consumer appreciation for restaurants has grown.


Cristin O’Hara

Restaurant Group Head

Bank of America