SAN ANTONIO — June of 2022 saw a record breaking 9.1 percent for inflation compared to the previous year. In February of 2023 it was still 6 percent according to the Bureau of labor statistics.
While consumers stopped buying certain items, businesses didn't have that option. Mad Dogs Restaurant Group Director of Operations Aaron Selinkoff manages several locations in San Antonio's downtown and said rising budget expenses have been a constant issue.
"General food prices have gone up dramatically in the last year and a half or so. Almost 20 percent," Selinkoff said. "This year we expect a 5 or 6 percent increase in food prices. It's been rough."
Hot weather, COVID-19, and increased budget expenses for higher wages had also taken their toll. But Selinkoff could still count on one thing: spring break.
Every year, people flood the Riverwalk in downtown San Antonio and this year has been no different.
"This is a great week. It's one of our busiest months of the year," Selinkoff said. "It's been a rough couple years in the restaurant and hospitality industry. No doubt about that. We've been taking some hits over the last couple years so spring break is always a great time to make up some ground."
Visit San Antonio Chief Marketing Officer Andres Munoz told KENS 5 the out-of-towners are also a godsend for local hotels, who are no seeing some of their best numbers ever.
"They are starting to see records set in their reservations as well as in the traffic that they are getting in their restaurants. This is positive for the hotel business, the restaurants, for the nightlife attractions, for many people who work in the travel industry in San Antonio." Munoz said.
The increase in tourism helps counter inflation for those industries as well but Munoz said the improvement is important for anther reason: It lets the city know what the next few months will look like.
"Spring break is a phenomenal telling of what the summer is going to turn out to be. We are pacing at 3 percent higher than this (spring break) week last year. Therefore, that positive momentum is telling us that we are going to have a strong season," Munoz said.
Selinkoff told KENS 5 local businesses will also be looking forward to St. Patrick's Day. The pub-friendly holiday falls on Friday this year which gives even more people a chance to get out, celebrate, and spend money.
"This weekend, it's going to be insane," Selinkoff said. "It's going to be a super-packed house all day Friday and Saturday.