Oliver Grant
Investor & M&A Contributor
Oliver writes the buy-side perspective for The Bottom Line. He's a partner at a hospitality-focused family office and has personally closed eleven restaurant acquisitions in the last six years.
He files monthly, mostly when the marketplace surfaces a listing he wants to argue about in print. His pieces tend to be the ones brokers screenshot and forward to their clients.
Outside TableTransfers he sits on three operator boards and teaches a unit on hospitality LBO modeling at a leading business school.
More articles from oliver-grant
the bottom line
·12 min read
FAT Brands has to sell. Here's what the AI premium does (and doesn't) buy a multi-brand QSR.
the bottom line
·11 min read
The setup into Wingstop Q1: Citi's Buy call, the same-store sales floor, and what Smart Kitchen has to prove
the bottom line
·9 min read
Chipotle Q1: comps positive, AI talk modest, and the 32% loyalty number that should worry every fast casual
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·12 min read
Yelp's local-ad engine is cracking. The AI pivot won't save Q2.
the bottom line
·8 min read
Toast's Q3 Print, the Uber Partnership, and the Drive-Thru Question No Analyst Will Ask
the bottom line
·10 min read
Don't Pay the AI Premium: A Buy-Side Thesis on Restaurant M&A in 2026
the bottom line
·9 min read
Limehome's €75M Is a 90-Day Funding Window Opening — Here's the Math on Why Hotel-Tech Is Hot Again
the bottom line
·13 min read
How I'd Price a 12-Unit Cafe Group This Week, Step by Step
the bottom line
·11 min read
The 2025 Restaurant Ticker Scoreboard: Chili's, Toast, Hilton — and the Spread That Should Worry Vendor CFOs
the bottom line
·9 min read
Sweetgreen's $186M Automation U-Turn: What the Wonder Deal Says About AI ROI
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·9 min read
Three Hotel Tapes, One Trade: MAR Up, HLT Down, H Sideways
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·10 min read
Block/Square's Restaurant Pivot Is Bullish, Contrarian and Possibly Underpriced
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·12 min read
Yelp's AI Bet Is a Real Call Option Investors Are Mispricing
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·9 min read
Thoma Bravo Closes Olo: Pricing the Take-Private Discount
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·9 min read
Darden Raises FY26 Guidance. The Casual-Dining Bull Case Gets Re-rated.
the bottom line
·11 min read
The Olo Take-Private Template: What Restaurant SaaS Founders Should Learn from $10.25
the bottom line
·10 min read
The Big Three Distributors Print: Who Actually Owns the Independent Restaurant
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·9 min read
Sweetgreen vs. Cava: The Unit-Economics Divergence
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·9 min read
The Compliance Bill Comes Due: Pricing the EU AI Act for Hospitality Investors
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·12 min read
Earnings Week Debrief: What Hilton, Wyndham, Chipotle and LVS Told You About AI Capex
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·12 min read
The Hotel-PMS Map Just Tilted: Cloudbeds-Canary Strategic Alliance
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·11 min read
What Q1 2025 Transcripts Actually Said About AI Spend
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·10 min read
EU AI Act's August GPAI Deadline Now Six Weeks Out
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·11 min read
The Hilton-Marriott-Hyatt AI Premium, Triangulated From One Week of Earnings
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·9 min read
The FreshAI 168: Wendy's Commits, McDonald's Wavers, and the Test of Who Really Has Scale
the bottom line
·10 min read
What the McDonald's CEO Is Actually Saying About AI in 2025 (and What He Isn't)
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·10 min read
The April Fundings Sweep: A $130M Check-Stack That Says Investors Picked Their Voice AI Horses
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·10 min read
Reading the Delaget Premium: What PAR Paid For
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·10 min read
Voice AI's Pre-Money Math: What Operators Should Underwrite
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·12 min read
Against the AI Premium: What Operators Should Pay
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·10 min read
Why Investors Should Stop Treating Toast and Block Like the Same Trade
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·13 min read
Earnings Week Unpacked: Where the AI-and-Hospitality Multiples Expand From Here
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·11 min read
Restaurant SaaS Valuations After May: How the Rerating Actually Works
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·11 min read
Wendy's FreshAI Math: Why Investors Should Care About the Next 500 Stores
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·9 min read
Voice AI's Funding Lull Is Over — Track These Eight Names Into GTC Week
the bottom line
·12 min read
Yum/Nvidia and the Restaurant-Tech Multiple Reset
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·10 min read
Against the AI Premium: Why Toast's Q4 Won't Justify a Re-rating
the bottom line
·10 min read
The 12-Unit Cafe Valuation Primer: What Wingstop's Smart Kitchen Comp Means for Independents
the bottom line
·9 min read