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It had it all, the location, the chef and the food, so why couldn't Oloroso in Edinburgh make it work? And if it couldn't then what hope is there for everyone else? Tony Singh's restaurant looks out over Edinburgh Castle from the New Town in the city, but will be closed within a matter of weeks and the highly acclaimed chef/owner is to rethink his future in the hospitality industry . When he opened Oloroso Mr Singh was not a newcomer to the scene with 20 years of restaurant experience and a good run of success. And it showed, Oloroso was popular and gained a number of awards when it first opened – what better start could anyone ask for?! Yet on the restaurant's website, Mr Singh this week wrote: "Running my own restaurant has been an unforgettable experience; however the current economic climate is incredibly challenging and in all honesty it has made me question my future, as well as the future of my staff and suppliers. Today marks the commencement of a consultation period with the staff during which my proposal to close the restaurant will be discussed in-house." The economic downturn has made it difficult for many businesses in the hospitality trade to keep going with a variety of different approaches being adopted. Discounts and deals have become more prevalent than ever before with many restaurants prepared to take a hit in their profits in a bid to tempt customers into their establishments. Others have kept to their high end ethos and decided not to undermine their offerings and continue to market themselves as something really worth paying for. Both approaches represent a gamble in these difficult times and perhaps it is hardest for those that have been in the industry for long enough to know how good it can be. What cannot be doubted is that there is a sense of weariness in Mr Singh's statement which cannot be ignored: "The proposal comes at a time where I feel that it makes sense to take a step back from the industry during these difficult times and re-group." Gemma Sharland, business consultant at The Mystery Dining Company , said: "People are always talking about the importance of location, location, location – but without a solid Guest Engagement Management programme in place even the best restaurants are finding it hard to ride out the recent recession .”
