The Global Restaurant Investment Forum (GRIF), founded in the UAE, recently marked its 10th anniversary in Edinburgh, emphasising the Middle East’s growing impact on the global restaurant industry
This intimate gathering took place from October 7th to 8th, uniting industry experts, chefs, investors, and restaurateurs for candid discussions and actionable insights.
Dubai, UAE -: A diverse group of professionals came together in Edinburgh to celebrate GRIF’s milestone, highlighting the Middle East’s pivotal role in shaping the global restaurant landscape alongside its programming partner, THINK Hospitality. The revamped format of GRIF 2024, which was hosted across The Balmoral Hotel, Edinburgh International Conference Centre, and had closing sessions and cocktails by Artisan Drinks at the Virgin Hotel Edinburgh, provided an unfiltered look at current and future industry trends, fostering invaluable conversations about challenges and opportunities. The first day comprised study tours across 16 venues and finished with drinks hosted by The Alchemist with the Scottish hospitality industry fully embracing GRIF and showcasing the talent and innovation of the local industry in front of their international peers.
Insights and Strategies from Industry Leaders
Over the past decade, GRIF has facilitated more than 90 impactful deals and brought together over 1,000 key players in the sector. This year’s event featured prominent speakers sharing critical insights on market dynamics and operational strategies. Notably, Nicolas Budzynski, CEO of LPM Restaurant & Bar, revealed that they saw a 20% profit increase from 2019 to 2023 and in 2024 they will close the highest they ever have, attributing this success to a revised pricing strategy during COVID-19 and a keen understanding of consumer behaviour.
Kurt Zdesar, Founding Partner of Chotto Matte, shared lessons from Nobu, stressing the importance of localising 30% of each venue to connect with the local culture, including the upcoming Chotto Matte in Riyadh. Roaya Saleh, Founder of Villa Mamas, echoed this sentiment, pointing out the benefits of Bahrain’s lower operational costs and strong homegrown restaurant community.
Faisal Shaker, CEO of Modern Food Company, highlighted the loyalty of repeat customers, while Wayne Brown, Global VP of F&B Development at Ennismore, noted that 50% of their revenue now comes from food and beverage operations, emphasising its growing significance in hospitality.
Lydia Forte, Group Director of Food and Beverage at Rocco Forte Hotels, announced plans for a new property in Dubai, and Luigi Battista, Group General Manager of Leylaty Group, detailed the expansion of Kuuru, a Nikkei restaurant that recently had its Riyadh branch become the first Saudi Arabian restaurant named in the World’s 50 Best Restaurants for one of the 50 Best Restaurants in MENA, stressing the need for collaboration with local operators.
The intimate atmosphere allowed for genuine exchanges of ideas, addressing the real challenges restaurateurs face, such as talent retention and team building, ensuring attendees were left with actionable insights for business growth.
Middle East in the Spotlight
A key highlight of this year’s forum was the emphasis on the Middle East’s influence within the global F&B industry. Sessions focused on the region’s role, with speakers providing insights tailored to Middle Eastern markets. The discussions confirmed that the Middle East is rapidly emerging as a leader in the global restaurant scene, characterised by dynamism, innovation, and a commitment to excellence.
Attendees discussed best practices for adapting international strategies to local markets, emphasising quality, consistency, and local trends. In Dubai, favourable visa policies were noted as a recruitment advantage, while challenges in staff retention highlighted the need for supportive work environments and growth opportunities.
In Saudi Arabia, evolving consumer preferences are driving demand for unique dining experiences, with experts noting the importance of thoughtfully curated entertainment. Despite some market saturation, significant opportunities remain for operators who understand local tastes and can adapt international practices to regional demands.
Intimate Setting, Real Insights
The revamped GRIF 2024 format fostered a collaborative and interactive environment, allowing attendees to engage directly with industry veterans. The forum encouraged open discussions on critical issues, from team retention to global expansion strategies.
Key takeaways underscored that success in the restaurant industry relies heavily on investing in people and providing effective training. Participants also explored strategies for enhancing restaurant longevity, particularly in fast-evolving markets like Dubai, where adaptability is essential. There is a growing trend in the GCC towards smaller venues focused on quality and unique dining experiences.
Reflecting on the event, Jennifer Pettinger-Haines, Founder of GRIF, remarked, “Our 10th anniversary was a remarkable milestone, successfully fostering an environment where participants could share their successes and challenges. This exchange of ideas will undoubtedly shape the industry’s future.”
James Hacon, the Managing Director at THINK Hospitality, commented, “It was wonderful to see people from around the world come together to Edinburgh and Scotland, a place that embodies all that is good about our industry, with a genuine welcome, heartfelt hospitality, and passion for its national larder. This backdrop offered delegates a uniquely organic and truly collaborative way to meet other leaders, share valuable insights and ultimately discover opportunities for deals and collaboration.”
Looking ahead, GRIF is set to take place in Istanbul in 2025, building on the success of the Edinburgh gathering. The Istanbul edition promises to continue the tradition of impactful discussions, making it a must-attend event for restaurant industry professionals.
