Dozens of New Restaurants in the Works Skip to content

Dozens of New Restaurants in the Works

By Iceland Review

Plans are in the works to open around 30 new restaurants in Reykjavík city center in the near future, reports The combined venues will be able to seat at least 1,000 customers at a time, based on information from the restaurant entrepreneurs.

The projects are at different stages of the development process. Some are already being designed, while others are still at the concept phase, but most of the plans are expected to materialize, according to the owners of premises and the entrepreneurs. This is especially true of restaurants attached to hotels. Operating licenses have not yet been secured for all the planned restaurants, with a few still in the process of applying.

Assuming that each seat at the proposed restaurants returns 10,000 krónur [USD 96, EUR 84] in sales a day, this means a total daily turnover of 10 million krónur [USD 96,000, EUR 84,000], or about 3.7 billion krónur [USD 35.5 million, EUR 31 million] a year. The number of employees is expected to be in the hundreds and the knock-on effect on suppliers and manufacturers through the purchase of goods will be significant, according to a discussion of these plans in the print version of today’s Morgunblaðið newspaper.

Among those preparing for the opening of a new restaurant is Jóhannes Steinn Jóhannesson, head chef at Jamie’s Italian, a chain restaurant owned by British celebrity chef Jamie Oliver that is set to open in Hótel Borg in Reykjavík city center.

Jóhannes Steinn explained that Jamie’s Italian is targeting the ‘typical Icelander’ that city center restaurants have neglected through their focus on expensive food and trappings. Jamie’s Italian aims to appeal to the majority with its reasonable prices.

“The typical Icelander only dresses up to go out for dinner on weekends. We aim to attract customers on Mondays and Tuesdays as well. Our restaurant is well located and will therefore suit tourists. They are always looking for places where the locals go,” explained Jóhannes Steinn.

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