1)New openings continue on a slight keel downward. Averages near 400 per week of net new openings.

2) Counter service restaurants are nearing the 50% mark of net new openings. In the past (recent 5 years) , net new openings were solidly 2/3 sit-down versus 1/3 counter service. There has been an ebb of independent operators getting into the fast casual/quick service arena which was primarily and exclusively, a domain of fast growing momentum chains.

3) New chain openings, still very low per week. We estimate it can\’t get much slower for chain openings (and) we are at or near a bottom. Pre-pandemic there were an average of 200 new chain store openings per week, now close to 35-40 per week.