OpenTable’s New CEO Sees a Shakeout Looming for U.S. Restaurants
- One in four may not survive virus, booking service reiterates
- Company says enhanced disclosures could help in Covid-19 era
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OpenTable Inc.’s new leader is confident consumer demand will return after the pandemic. But it may already be too late to save many restaurants.
The industry remains on track to lose 25% of its eateries nationwide based on the pace of reservations, according to Debby Soo, who took over this month as chief executive officer of the restaurant-booking service. Without a vaccine to ease customer concerns, she’s standing by the bleak estimate first offered by her predecessor in May, even as some establishments say sales have started to stabilize during the summer months.