Part 3/8:
One of the primary reasons for the downfall was identified as a significant shift in customer spending habits. Before the COVID-19 pandemic, average per-head spending was around $40 to $50 per meal. However, with international travel restrictions easing, many consumers began spending less at local establishments, dropping to approximately $15 to $25 per visit. This decline in disposable income and changing consumer priorities drastically affected revenue streams.