The owner of a premium hospitality investment group which is targeting revenue of £100m over the next three years has said operators in the casual dining market have gotten “lazy” because of private equity backing.
Restaurateur and marketing expert Andrew Fishwick – who this month launched Hestia a £50m restaurant fund alongside former Sainsbury’s boss Justin King – told City A.M. the market had become “really lazy” and “poor value”.
He said: “There will always be a need for that sector. I think what it had done is probably because of its private equity backing, [it] got very lazy. A lot of it was very, very lazy and it’d become really poor value”.
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