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QUOTE
Restaurants in the latest installment of R&I’s Top 100 Independents had combined food-and-beverage sales of $1.52 billion in 2008. In a roller coaster of a year, aggregate sales ended up essentially flat relative to 2007’s $1.53 billion.
Many individual operators reported losses in 2008—a reflection of the recession’s grip on diners’ travel and entertainment budgets. Even so, $11 million in sales turned out to be the minimum required to crack this year’s list. Tao Las Vegas, the top-ranking restaurant for three years running, earned a very impressive $68.4 million in F&B revenue in ’08; however, it represented a modest 3% gain over Tao Las Vegas’ 2007 sales (by comparison, the restaurant’s sales rose 20% from 2006 to 2007). The rest of the top five—including New York City’s Tavern on the Green—also held onto their spots.
New to the list at No. 19: DeVito South beach, the Miami beach collaboration by restaurateur David Manero and actor Danny DeVito.
Many individual operators reported losses in 2008—a reflection of the recession’s grip on diners’ travel and entertainment budgets. Even so, $11 million in sales turned out to be the minimum required to crack this year’s list. Tao Las Vegas, the top-ranking restaurant for three years running, earned a very impressive $68.4 million in F&B revenue in ’08; however, it represented a modest 3% gain over Tao Las Vegas’ 2007 sales (by comparison, the restaurant’s sales rose 20% from 2006 to 2007). The rest of the top five—including New York City’s Tavern on the Green—also held onto their spots.
New to the list at No. 19: DeVito South beach, the Miami beach collaboration by restaurateur David Manero and actor Danny DeVito.
With Tavern on the Green in second place and still filing bankruptcy. If memory serves, the list hasn't changed much from last year but the numbers are down.
