2023 | DOING BUSINESS IN BEVERLY HILLS
INTERVIEW WITH TODD JOHNSON, PRESIDENT & CEO OF BEVERLY HILLS CHAMBER OF COMMERCE — AS TOLD TO JESSICA VARONE
Todd Johnson, President & CEO of Beverly Hills Chamber of Commerce.
Todd Johnson has led the Beverly Hills Chamber of Commerce as President & CEO since 2015. Before that time, he played an active role within the Chamber as a Board Member (Chairman of the Board in 2010), CFO and Restaurant Committee Chair. Prior to that, he led Lawry’s Restaurants for 20 years in various roles which included: Regional Manager and General Manager.
From your point of view as President and CEO of Beverly Hills Chamber of Commerce, what is the business sentiment in Beverly Hills going into 2023?
Beverly Hills is obviously a very unique city and certainly one of the most notable in terms of luxury and high-end wealth. Businesses I've spoken to on Rodeo Drive have had a very strong 2022. Restaurants are starting to get busier, especially with outdoor dining continuing through at least 2023. I think that's going to be very positive. The first quarter will be interesting. We'll see how the new political atmosphere that's being developed is going to affect not just here, but people who travel here. That's where we faltered a little bit in 2022. We didn't have international travelers visit us as often, simply because the Euro was so weak and a lot of people ended up going to or staying in Europe. However, we are hearing that there will be a big push to get them back in 2023. We're expecting a big return of the Middle Eastern, European, and Asias business this year. I think this will be a big improvement over 2022, compounding our success growing business with residents and domestic travelers.
Well, that's definitely a more optimistic view that many of us like to hear.
We're blessed to have a lot of new businesses that have opened or will be opening. There are some major projects that are now in the works and developing over the next several years. The Cheval Blanc hotel project has been approved and we anticipate an opening in four to five years. The recently approved One Beverly Hills project will see the construction of three towers with a 5-star 42 room hotel and luxury condos right on the edge of our city adjacent to the LA Country Club. The new gateway entrance to Beverly Hills from the west is gonna be magnificent.
What about big events in 2023 and beyond? Will that bring in more visitors?
Nearby SoFi Stadium will host the 2023 College Football Playoff National Championship. Teams travel big and Beverly Hills is a major destination for players and fans. For Father's Day, we will have the U.S. Open Championship at LA Country Club, right next door. That will bring hundreds of thousands of people into the area. Toward the end of 2023, the NCAA Division I men's basketball finals and playoffs will be hosted at Crypto.com Arena. Coming up in 2026 is The FIFA World Cup at SoFi Stadium, which will be huge. And this all leads up to the Olympics in 2028. Hudson Bay Companies announced a major project for their Saks Fifth Avenue property in their area right next to the Beverly Wilshire, proposing offices, restaurants, expanded retail, and mixed-use residences. I think the city is extremely fortunate to have these kinds of projects and companies investing here. It says a lot about Beverly Hills.
What new businesses or restaurants have you excited?
Erewhon Market opened up recently and hasn't slowed down. Sweet Green, Jon and Vinny's, and Shake Shack all recently opened and are doing very well. The Mastro brothers are opening Steak 48, a 10,000 sq. ft. steakhouse near Rodeo this year. The Hideaway opened on Rodeo Drive in the Rodeo Collection as well. The food is great, a little pricey, but it is Rodeo Drive and I don't even know if there's such a thing as inexpensive dining out anymore (laughs). Maple & Ash is opening on Beverly Drive. Philz coffee on South Beverly drive, and Marea, a very famous restaurant out in NY is coming to the Mandarin Oriental Residences on Camden Drive with Michelin Star chef Daniel Boulud.
How about consumer trends and the economy, how do you see it shaping up this year?
I think during Covid the city fared much better than many other cities both here in California and across the country. And it was because of local residents who shopped locally and supported local business. We lost some businesses, but nothing compared to what cities around us did. I think after a long two years of not being able to enjoy dining and shopping as much as before, our residents and visitors are excited for a more normal 2023. The energy on the streets of Beverly Hills is magnetic. And, of course, a topic that’s very big on people's minds is safety. I was in a meeting this morning with probably about 50 businesses from Beverly Hills hosted by our police department. We had an hour-long discussion about holiday preparedness and learned that crime is DOWN 34% in just the last three months alone. The messages is that Beverly Hills is one of the safest places to be in Los Angeles county.
Thank you Todd. 2022 has definitely been a year for the books and one that we've learned a lot from and have a lot to look forward to in 2023. — As told to Jessica Varone