Modern Restaurant Management

NOVEMBER 30, 2020

Perhaps the biggest question on restaurateurs’ minds right now is: “Do I plan for the 2021 I was expecting, or can I just go back to 2019?” My colleagues and I at EPAM Continuum have been thinking of 2021 and the trends that will soon be served to us. ” I hope 2021 is not about “How do you want the food?”

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Modern Restaurant Management

AUGUST 16, 2021

Consumer spending at restaurants was up +32 percent in the April-May-June 2021 quarter compared to the same quarter last year, and for a pre-pandemic view, flat compared to the same quarter in 2019. As of June 2021, food service and drinking places employed 11.3 million as of June 2021, 97 percent of the 151.1 percent overall.

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Modern Restaurant Management

MAY 5, 2021

Sales velocity is now -5 percent vs April 10, 2021. Sales velocity is now -3 percent vs April 10, 2021. Sales velocity is now -7 percent vs April 10, 2021. Sales velocity is now -7 percent vs April 10, 2021. Sales velocity is now -4 percent vs April 10, 2021. ” Businesses pay a high price for digital errors.

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Modern Restaurant Management

JANUARY 15, 2021

The experts at 7shifts’ released a data-backed study titled “How Restaurants are Evolving Labor with Third-Party Delivery in 2021." To get a sense of how sit-down restaurants are faring to start 2021, foot traffic analytics firm Placer.ai Our industry is resilient and consumer demand for restaurants remains strong.”

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Accounting Marketing Document Article 169

Modern Restaurant Management

JUNE 3, 2021

CGA’s consumer research has signs that sizeable numbers will be looking to the On Premise to mark events like these in 2021. “After months of restrictions, many consumers are ready to celebrate US public holidays and events in a big way in 2021,” said Alexandra Martin, Operator and Analytics Director at CGA.

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Hospitality Magazine

APRIL 10, 2024

As agave prices in Mexico continue to fall and demand for premium-and-above tequila moderates in the United States, alcohol market analysts IWSR says brand owners have an opportunity to improve product quality at lower price points.

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Pricing Marketing 130

Modern Restaurant Management

JANUARY 31, 2022

In December 2021, average check was up 22 percent compared to the same period in 2019 and sales were up eight percent, according to Revenue Management Solutions, which released sales, traffic and average check trends for QSR restaurants in December 2021. Bureau of Labor Statistics, prices at limited-service restaurants increased by 7.10

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Pricing 189

Revenue Hub

JANUARY 17, 2024

Surging ADR: Noteworthy Escalation in Average Daily Room Rates Average daily rate per room values, known as ADR, experienced a greater global growth in the last 3 years than in the last two decades prior to COVID-19 pandemic, resulting in the highest hotel prices since records began (Figure 1). Evolution of hotel room price from 2002 to 2023.

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Pricing Travel and Tourism Article Presentation 109

Modern Restaurant Management

JANUARY 26, 2022

Consumers described more inflationary experiences within their reviews on Yelp in 2021 than ever before, according to fourth quarter 2021 data for the Yelp Economic Average (YEA) report, a benchmark of local economic strength in the U.S. In 2021, business openings increased by eight percent to 559,715 up from 517,231 in 2020.

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EATER

SEPTEMBER 20, 2023

In the bread aisle, you see two loaves identically wrapped; both are perfectly edible, but one is a day older and costs half the price. This is a business practice called dynamic pricing, and it may be coming soon to a supermarket near you. The price is changing throughout the [time] horizon.” Which do you choose?

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Modern Restaurant Management

OCTOBER 24, 2022

year over year, with reviews mentioning inflation up by 22 percent compared to Q3 2021. Yelp found that food businesses are seeing one of the largest increases of inflationary experiences compared to Q3 2021, followed by restaurants. In response, consumer searches for budget-friendly dining and grocery options are higher than Q3 2021.

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Hotel Owner

OCTOBER 12, 2022

UKHospitality chief executive Kate Nicholls has welcomed the Government’s new Energy Prices Bill adding that it will provide “relief to all manner of hospitality businesses”. The publication of wholesale energy prices will also provide much-needed clarity for businesses.

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Pricing 104

Modern Restaurant Management

JULY 6, 2022

While 2021 was the year of the comeback for restaurants, 2022 is proving to be a very different story. Restaurant traffic, while recovering and up nine percent in 2021 compared to 2020, is still 4 percent below pre-pandemic levels, with smaller chains and independent restaurants down by nine percent, according to a study by The NPD Group.

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Revenue Hub

OCTOBER 3, 2023

ZHAW School of Management and Law, based in Winterthur, Switzerland, conducted a study of 37 hotels that implemented dynamic pricing in 2021 and 2022, evaluating the effectiveness and impact of the RoomPriceGenie revenue management system. What are the internal effects on competencies after starting with dynamic pricing?

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Modern Restaurant Management

MAY 9, 2022

Our data shows QSRs have struggled to regain traffic since the second half of 2021. percent compared to March 2021. Even breakfast, which was trending upward throughout 2021, has started to decline, with YOY traffic down -0.4 In Q4 2021, 23 percent said they planned on ordering more. Pricing strategies.

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Modern Restaurant Management

SEPTEMBER 13, 2022

However, in June, the category started a downward trend, similar to declines in lunch and dinner that started as far back as Q3 2021. percent) from August 2021, compared to declines in traffic at lunch (-5.5 The average QSR price is at its highest since 2020 (+16.3 percent) and dinner (-3.9 percent), but basket size is down -5.3

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Revenue Hub

FEBRUARY 9, 2023

After air travel was significantly reduced in 2020 and 2021, demand for air travel roared in 2022 as borders opened and travelers gained confidence. The price must be right When it comes to booking air travel, it’s all about price, with atypical, low pricing being the top thing consumers value.

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SiteMinder

MAY 28, 2023

While prices for all German accommodation providers rose by seven per cent between 2019 to 2022, prices among those with 20 rooms or less grew 22 per cent in the same period. “However, generally, we have seen that smaller properties are leading the hotel industry in raising their pricing to reflect macroeconomic shifts.”

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Hospitality Magazine

JULY 12, 2023

The pub, which had an asking price of $7.5 million, was sold in September 2021, with Peninsula Hospitality committing to renovate the two-storey venue and roll out a new food and beverage offering. Historic Sydney pub The Dry Dock will reopen late this year under new owners Peninsula Hospitality, run by Mike Everett and James Ingram.

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Modern Restaurant Management

OCTOBER 20, 2021

Nearly three-fourths of respondents reported using the channel at least 1x weekly, a slight decline from May 2021. Takeout and delivery also have remained constant since May 2021 — 66 percent used takeout at least one time weekly, and 52 percent used delivery. Why Takeout Still Reigns (And How Operators Should Price).

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Pricing 215

Hospitality Magazine

JULY 16, 2024

Rising invoice payment defaults have also continued to rise since mid-2021. Monetary policy settings teamed with rising prices of essentials have all had negative effects on Australian small business. The average values of invoices held by businesses has also fallen 49.9

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Pricing Magazine 237

7 Shifts

SEPTEMBER 7, 2021

Has the price of going to a restaurant increased? To answer this question, we compared 2019 vs 2021 restaurant receipts. We found a 14% increase in the total price on a receipt. Either diners have switched to ordering the more expensive items off the menu, or we're seeing very strong inflation of prices on menus.

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Modern Restaurant Management

SEPTEMBER 14, 2021

Across the country, prices for food are reaching all-time highs as inflation picks up and COVID-19 restrictions loosen, driving more consumers to resume dining, shopping and traveling. percent in July 2021, its largest monthly increase since February 1981, according to data from the U.S. Overall, year-over-year consumer prices rose 5.4

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Modern Restaurant Management

FEBRUARY 3, 2022

Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.

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STAAH

APRIL 11, 2023

The integration brings two of the hospitality industry’s key service providers closer together and has simplified access to vital pricing intelligence, for joint customers. OTA Insight’s team of international experts supports more than 60,000 properties in 185 countries.

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Modern Restaurant Management

AUGUST 31, 2021

The report illustrates the continued impact of the COVID-19 pandemic on the restaurant industry and provides an updated look at key indicators and trends influencing the industry's recovery as of June/July 2021, including the current state of the economy, workforce, and food and beverage sales. million jobs in the first half of 2021.

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Modern Restaurant Management

JULY 21, 2022

percent compared to Q2 2021, according to the Revenue Management Solutions (RMS) Q2 Industry Trends Report. Come June, the Labor Department's Consumer Price Index saw that annual rate climb even further to 9.1 Consumers see a drop in gas prices , bringing them back to drive-thrus. QSR net sales for the quarter are up 1.4

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Modern Restaurant Management

NOVEMBER 21, 2022

percent compared to the same period in 2021. Additionally, menu prices at casual dining establishments rose by an average of 9 percent year over year from 2021. The decreased patronage along with inflation increases running costs, which means increased menu prices.

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Boutique Hotel News

JANUARY 4, 2023

The startup, valued most recently at $9 billion, submitted fresh financial documents in September, 12 months after the company first filed to go public in 2021 with a Draft Red Herring Prospectus [DRHP] for a $1.1 billion IPO. Last year, OYO received regulatory approval to submit additional documents in order to go public.

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Document Pricing Marketing 239

Modern Restaurant Management

JANUARY 12, 2022

The pandemic has permanently altered the consumer-restaurant relationship with operators investing in technology and real estate to align with changing consumer preferences, according to the 2021 Restaurant Franchise Pulse survey, conducted by TD Bank. Christmas Day delivers second-highest day for check value across 2021.

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Modern Restaurant Management

DECEMBER 20, 2022

Increasing menu pricing has helped to offset costs and so far, has continued to attract customers since grocery prices are outpacing the increases in restaurant tickets for dining out." The second is pricing. Menu prices have consistently risen since 2021. In June 2022, average price increase spiked from 10.7

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Pricing Scheduling Marketing Communication 197

Modern Restaurant Management

APRIL 27, 2020

OpenTable added new features and price cuts for 2020 as they recognize the road to recovery will be long and difficult. These advanced features are now paired with discounted pricing to reduce the reopening costs of our customers and to encourage new restaurants to join OpenTable. First is an enhanced restaurant management platform.

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Hospitality Magazine

AUGUST 21, 2024

Hills Collide will continue to produce its own products, including wine, vermouth and gin, ensuring good quality at affordable prices. The event will celebrate Gruner Veltliner from both Australian and Austrian producers.

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Special Events Events Presentation Pricing 245

Modern Restaurant Management

SEPTEMBER 27, 2021

Six major themes are expected to drive restaurant operator profitability and beverage attachment post-COVID, according to the Coca-Cola 2021 Fountain Foodservice Beverage Strategy Survey. "While most consumers do not expect the pandemic to end in 2021, they are already considering their future lifestyles, including dining behavior."

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Modern Restaurant Management

JUNE 7, 2022

With gas prices over $4 a gallon, a drop in drive-thru traffic is not surprising, and our historical data shows a positive correlation. Gen Z respondents reported a decrease in full-service visits, too, from 33 percent in Q4 2021 to 15 percent in Q1 2022. But the drop in Gen Z's frequency is notable.

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Budgeting Pricing 208

Modern Restaurant Management

MARCH 21, 2022

Even after the pandemic-fueled tumult of 2020, few would have predicted the extent to which the industry has been shaped in 2021 by such factors as a major labor shortage, supply-chain issues, and soaring inflation. Even in the best of times, commodity prices change on a daily basis. Back-Office Tech Plays a Critical Role.

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Modern Restaurant Management

NOVEMBER 5, 2021

Since then, sales have fluctuated in response to surges of COVID-19 cases, climbing up to $72 billion in August 2021. Predictive analytics enables you to match internal data, like sales history, with external data such as natural disasters, weather patterns, and even gas prices. Total restaurant industry sales in the U.S.

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