Silver Chef to invest $200m in hospitality

New Zealand’s only dedicated hospitality equipment funder, Silver Chef, has announced it will make available $200 million in funding for the country’s hospitality industry over the next five years in a bid to help as many businesses as possible achieve their potential.  

Open to new and existing businesses of all sizes, the funding will provide flexible equipment funding solutions through Silver Chef’s industry first rent-try-buy model, supporting existing and new hospitality business owners get the equipment they need to create their dream. 

Committed to the growing success of New Zealand’s hospitality market, the financing will give operators access to commercial restaurant and kitchen equipment without the need for large amounts of capital upfront, along with educational resources and mentoring. 

Silver Chef’s funding commitment comes at a time when large tourism events are seeing New Zealanders spending more money on dining out and less on grocery items*. 

According to a study conducted by Stats NZ in 2017, approximately one quarter of the country’s foodspending habits are dedicated to restaurant and take away meals, with more people choosing to source their meals outside of home. 

Chief Executive Officer of Silver Chef New Zealand, Damien Guivarra, says, “Silver Chef is dedicated to supporting the longevity of New Zealand’s flourishing hospitality industry to ensure the financial stress that comes with purchasing new equipment for business owners doesn’t get in the way of success. 
“New Zealand’s hospitality market is strong and experiencing consistent growth. As the country’s only dedicated hospitality funder, we hope that exiting business owners and budding foodie entrepreneurs see it as the ideal time to embrace a flexible financing model,” adds Guivarra. 

Silver Chef has already dedicated over 30 years to supporting more than 30,000 hospitality businesses around the globe, including nearly 2,000 in New Zealand alone.  

*A study conducted by Stats NZ found that in September 2017, 26 percent of food spending was spent in restaurants and on ready-to-eat-meals compared to 23 percent in 2017. About 34 percent of spending went on grocery foods, compared with 37 percent in 2014.