Due to the steady increase in customer traffic and revenue generated by restaurants following the easing of the Covid-19 pandemic, shopping mall operators are expanding the dining areas at their existing and upcoming properties, effectively doubling the available space for food establishments.
Over the past three years, there has been a significant increase in the allocation of space for food and beverage (F&B) outlets within malls. The F&B section now covers approximately 20% of the total mall space, marking a doubling of the previous allocation of around 10%.
Sameep Pathak, CEO, malls, Oberoi Realty Limited, said, “Customers are looking for unique ambiences, cuisines and experiential dining options. As a result, the earlier 12% space dedicated to F&B has now increased to anywhere between 18% and 20% depending on the size of the mall. F&B offerings also give a strong boost to customer footfall and revenue.”
Regarding the upcoming mall in Borivali, Mumbai, the company has indicated its intention to maintain a similar ratio of space dedicated to food and beverage (F&B) outlets.
Muhammad Ali, the CEO of Forum Malls, a Bengaluru-based company under the Prestige Group, mentioned that they have recently doubled the allocated space for eateries. Additionally, they have also developed a small mall exclusively focused on restaurants and cinema.
“Eating out and travel has emerged as the biggest trend post-Covid and mall operators have realised the importance of dining spaces. At all our upcoming malls, we are dedicating 20% of the space for F&B outlets ,” said Ali.
The Prestige Group is currently in the process of constructing malls in multiple cities including Bengaluru, Hyderabad, Chennai, and Kochi.
“Malls have always been a go-to destination for all age groups. Hence, we understand the importance of collaborating with mall management to meet the changing demands of customers,” said Pawan Shahri, Co-Founder of Chrome Asia Hospitality, which co-owns and operates multiple F&B outlets. “By partnering with malls, we can create dining concepts that contribute to the overall growth and success of these properties.”