Tashas founder Natasha Sideris upbeat about UAE, despite regional tensions
Tashas Group CEO Natasha Sideris on navigating a 30 per cent revenue drop, cutting costs and staying on track for expansion
08 April, 2026
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For Natasha Sideris, founder and CEO of Tashas Group — which operates one of the UAE’s most recognisable casual dining chains, tashas — the past few weeks have been defined less by headlines and more by recalibration.
When the Iran war broke out on 28 February, she initially feared the worst — a potential 50 per cent drop in revenue across parts of the business.
The reality, while still painful, has been more contained.
Across the group — which spans more than 40 restaurants across the UAE, South Africa, the UK and Saudi Arabia — she says her outlets in the Emirates are now tracking closer to a 25 to 30 per cent decline, with performance varying sharply by location and concept.
Since the outbreak of the war, regional tensions have disrupted travel, dented consumer confidence and triggered a slowdown across parts of the UAE’s hospitality sector, particularly in tourist-heavy and high-density areas.
“So we’ve got a number of brands in the portfolio… and all of those brands are trading differently,” she said in a video interview with Gulf Business.
Watch the full interview below:
The variation is stark. Some outlets are trading in line with previous years, including tashas in Al Bateen, Abu Dhabi. Others are down between 25 and 30 per cent, while higher-end concepts and tourist-driven venues have taken the biggest hit.
“People are a little bit more scared of being in denser areas… Marina Mall, for example, is a little bit more affected,” she said.
The timing has compounded the pressure. The onset of the conflict coincided with Ramadan, historically a quieter period, and now rolls into the summer months, when demand typically softens further.
The result, she said, was an immediate need to act.
“We reacted really quickly… we needed a little bit of a war chest.”
That response included a series of operational changes. Menus were cut almost in half — from around 55–60 items to closer to 25–30 — removing higher-cost dishes and simplifying supply chains.
“That takes a lot of pressure off the supply chain and allows us to control pricing,” she said.
The group also took the more difficult step of reducing staff costs. Employees were given a choice between layoffs and temporary salary cuts.
“We either have to retrench 30 per cent of the staff or we all have to take a 30 per cent haircut… let’s all suffer together,” she said.
The decision, she added, was supported internally, but remains under constant review.
“Now, whether we’re going to have to make tougher calls… we don’t know how long this will continue.”
Internally, the business is now operating on a near real-time footing, with frequent reviews of performance and short-term outlook.
“Every week is a surprise… it’s a constant evolution,” she said.
Even within a single city such as Dubai, resilience is proving highly location-dependent. Beachfront venues and those with strong local clientele have held up better than those reliant on tourism or located in dense commercial districts.
Against that backdrop, Sideris remains cautious — but not defensive. The group is continuing with expansion plans in the UAE, including new openings across Sharjah, Al Ain and Ras Al Khaimah in the coming months.
“We are not stopping. We believe in the region; we will modify operations to suit the lower turnovers for now,” she said.
Her outlook hinges on timing. A near-term easing could see a recovery towards the end of the year. A prolonged disruption would push that timeline further out.
“If this thing can come to a head, we could normalise by October, November,” she said. “If it carries on, then early next year.”
Zooming out: pressure builds across hospitality
Beyond Tashas Group, the pressures Sideris describes are beginning to surface more widely, echoed by other industry leaders she speaks to regularly.
“I think everyone’s having a very similar experience,” she said, referencing conversations within a CEO group of hospitality operators.
The backdrop is a war-driven shock to regional travel and costs. In the immediate aftermath of the conflict, tens of thousands of bookings were cancelled, while airspace disruptions hit mobility across key routes.
The wider impact is significant. The Middle East’s tourism sector is estimated to be losing around $600m per day in visitor spending, with forecasts suggesting inbound travel could fall 11 to 27 per cent in 2026 if tensions persist.
For operators, that is now feeding through in real time.
On the demand side, fewer tourists and disrupted flights are weighing on footfall, particularly in destination dining and high-density areas. On the cost side, higher fuel prices are pushing up food, logistics and operating expenses.
The response is increasingly consistent across the sector: simplify menus, tighten procurement and focus on core, high-margin dishes: mirroring the steps taken by Sideris.
At the same time, many are leaning on domestic demand and loyal customers to stabilise performance.
The result is a market balancing strong long-term fundamentals with short-term volatility.
“It’s a constant evolution,” Sideris said.
For now, the focus remains on preserving cash and staying agile.
“It’s a matter of time.”
