BENGALURU: Get ready to pay more for what you eat in hotels and bars and restaurants. For, the prices of food items are expected to go up by 15-25% soon.
This is because of the steep increase in prices of pulses, vegetables, spices and other commodities, which has affected their profit margins. Moreover, the state government is also planning to increase the milk price by Rs 5.
The hoteliers are also thinking of ways to increase the prices of food items without overburdening the customers. Not just the rising prices of raw materials, but also the hike in electricity and water tariffs is forcing hoteliers to recalibrate their rate cards. In fact, some eateries in the city and elsewhere have already increased the prices of their food items by 5-10%.
PC Rao, president, Bruhat Bangalore Hotels’ Association (BBHA), which has 24,500 eateries under its ambit, said, “Some hotels in the city have already revised the prices of food items because of the rising input costs impacting their business.”
Rain led to losses, say hoteliers
P C Rao said that prices of staples such as chana, dal, jeera, pepper and red chilli have seen a huge spike in the last few months. It is now inevitable for hoteliers to increase the prices of food items.
Alexander, manager, The Fine Restaurant, Vasanth Nagar, said business was dull in June. “So far this month, we faced a loss of around 50% because of rain. People are not willing to visit the restaurant because of the rain. Our profit margin is low through online portals. So, we do not invest in that.” With the prices of vegetables and groceries skyrocketing, his restaurant will up the cost of biryani by 7-8%, he said
Rao said items such as tomato rice, chaats and salads might go out of the menu till the prices of tomatoes come down. Bangalore Thindies, which serves two idlis for Rs 50 and a dosa for Rs 80, is planning to increase their prices by 15%. The management of this hotel too attributed the reason to price rise and expressed their helplessness.
Aakriti Sehra (24), a bachelor, said, “Being a bachelor, I often rely on food from outside. A hike like this would burn a hole in our pockets.”