'We need to figure out how to stop losing money,' #Dubai F&B boss on Covid-19 impact - Arabianbusiness

'We need to figure out how to stop losing money,' Dubai F&B boss on Covid-19 impact - Arabianbusiness:

Stakeholders in Dubai’s F&B sector will need to come together to survive the impact of the ongoing Covid-19 pandemic, according to Gates Hospitality CEO Naim Maadad.

Gates Hospitality has a portfolio that currently includes restaurants such as Folly, Reform Social&Grill, Bistro des Arts, Asia de Cuba and Publique.

In an interview with Arabian Business, Maadad said that “nobody is going to make money” in Dubai’s F&B sector this year.

“This is about survival. Nothing else. You can’t make money if there’s no cash in the economy. There’s no liquidity. It’s simple,” he added. “We all need to figure out how to stop losing money. It’s going to be tough. It’s unknown territory. This is new on all fronts.”