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According to a U.S. Industry report, there are approximately 9,918 independent Catering/Banquet
Hall establishments in the U.S. with industry revenue of over 6 billion dollars.
Catering/Banquet Halls can be independently operated or associated with Restaurants
and/or Hotels. The primary activities of Catering and Banquet Halls are providing
single event based food services with catering for Weddings, Retirement, corporate
functions, seminars and conferences and other parties. Some Catering Businesses
also offer outside catering as well, transporting meals and snacks to events or
prepare food at an off-premise site.
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According to the American Community Survey of the U.S. Census Bureau the U.S. states
with the largest Indian American populations, in order, are California, New York,
New Jersey and are among the fastest growing ethnic groups in the United States.
Therefore, with the growing population as well as the growing popularity of the
Indian cuisine, Indian restaurants are one of the fasting growing segments in the
food industry.
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Coverages necessary for Catering, Banquet Halls and Restaurants will include Commercial
Property and General Liability, Commercial auto, Loss of Business Income, Loss of
Refrigeration, Liquor Liability, Business Contents, Theft by Employees and Umbrella
Coverage. With Maya’s presence and influence in the South Asian Marketplace, it
will be able to capture a sizable market share in this business segment.
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