The Boulder Area Food, Beverage and Hospitality Sector Partnership closed out meetings for 2024 on Thursday, October 24th at Velvet Elk Lounge in Downtown Boulder. The group engaged in conversation around a series of topics, including electrification of kitchen equipment, the state of the current hospitality industry in Boulder, and creating opportunities for small businesses.
This meeting’s speakers included:
Elizabeth French and Norma King, Partners for a Clean Environment (PACE)
- Following a series of energy efficiency and pollution reduction codes, the City of Boulder will require all new residential and commercial buildings to be gas free starting December 2024, with limited exceptions for buildings with commercial kitchens and laboratories.
- PACE is looking to extend electrification to commercial kitchens, offering to cover 80% of the cost of replacement electric equipment (up to $20,000) for qualified applicants. The organization also has a $4,000 rebate that helps cover the cost of electric infrastructure.
- Transitioning to electric equipment not only provides financial benefits but can also offer greater flexibility in kitchen layouts, improved staff health and comfort, and significantly reduced CO2 emissions. Limelight Hotel, in attendance at the meeting, is set to open in 2025 completely electric.
Emiliano Lake Herrera, Visit Boulder
- With the possible securance of the 2027 Sundance Film Festival, online research booming and bookings significantly up from last year, 2025 industry projections in Boulder look to be mostly positive. The primary reason travelers noted for visiting Boulder was for vacation, followed by visiting family and friends.
- Compared to 28.4% in September 2023, 33% of travelers feel better off financially than they were a year ago. This comes with a significant decrease in overall consumer prices since COVID but could also be affected by a 4.6% growth in menu prices in the Western region over the last year.
- Restaurant spending has shifted from the weekday lunch to the weekend happy hour, with types of cuisine and ambiance being the key motivators for consumers choosing where to eat. Locations considered “fast-casual” currently lead restaurant categories in visit growth, attracting visitors with higher median household incomes.
Following our speakers, partners discussed new challenges and opportunities for 2025
- Business recruitment and retention proved to be a major concern for hotels, coffee shops, and restaurants alike. The rising cost of commercial rents contributing to retail vacancies not only impacts foot traffic but also leads to a loss of culture and community vibrancy. Small businesses need more affordability and incentives to operate in and around Downtown Boulder.
- Policy issues including the minimum wage debate and increase has been a major point of stress for small businesses operating in Boulder County. Members of the partnership would like to begin attending policy discussions as a group to represent the hospitality industry.
- Transportation and parking continue to be a concern for hotels and restaurants alike, especially in Downtown Boulder. Public and alternative transportation options should be better promoted to visitors.
- Members of the group mentioned a mentorship program for small business owners and folks looking to start their own hospitality-oriented business would be a great resource. This is something the partnership will be exploring for 2025.
Thank you to the Velvet Elk Lounge for hosting this convening!
Velvet Elk Lounge was born from the desire to create a small, funky, live music venue in Boulder where you can get a proper cocktail and listen to great, local music. When there’s not a live band, check the calendar for DJ events, vinyl nights, dance your pants off parties, and a host of other happenings.
Boulder Area Food, Beverage and Hospitality meetings will be transitioning to quarterly, 2-hour meetings for 2025. Please keep an eye out for your invitation to our next meeting in Q1.