Modern Restaurant Management

NOVEMBER 7, 2022

Striking a balance between value and price. Is it possible to strike a balance between value and price to satisfy both parties? To answer that question, Revenue Management Solutions (RMS) examined two factors: the impact of price increases on QSR sales performance and consumers’ perception of value. Is it possible?

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Modern Restaurant Management

FEBRUARY 4, 2022

Though many of the market forces that shaped the restaurant industry in 2021 were closely linked to disruption from the pandemic's onset in 2020, 2022 brings new challenges — and opportunities. Unprecedented labor and supply chain pressure will drive most of the restaurant trends that will define 2022, industry analysts say.

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Modern Restaurant Management

DECEMBER 1, 2021

In October, the USDA reported year-to-date averages, noting that food-at-home (grocery store) prices have increased 2.5 percent and food-away-from-home (restaurant) prices have increased 3.6 percent, and food-away-from-home prices are expected to increase between 3 and 4 percent. If current projections from the U.S.

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Modern Restaurant Management

DECEMBER 14, 2021

Modern Restaurant Manaagement (MRM) magazine asked restaurant industry insiders to discuss the key challenges they believe restaurants will face in 2022. Restaurants will continue to grapple with labor shortages and supply chain disruptions throughout 2022. Supply chain : Supply chain issues will be a key challenge in 2022.

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Modern Restaurant Management

JANUARY 25, 2022

Prices for raw products were consistent, and while there were fluctuations, it was nothing like today. At this restaurant, lack of cooler space required smaller, frequent, higher-priced food deliveries—and perishables were harder to store and find. In other words, go for the same effect, but at a much lower price.

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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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Modern Restaurant Management

DECEMBER 28, 2021

For example, a CBS MoneyWatch article from June of this year cited several well-known fast-casual brands' move to boost prices as much as 4 percent to help offset higher labor and other costs. More recent price increases have nearly doubled this number. are the fast-casual franchise model of the future.

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Modern Restaurant Management

DECEMBER 16, 2021

Tight menus, for set prices, at times offering previously unapproachable product at approachable prices. 2022 will be the year where the restaurant industry shows the world how flexible and techno-savvy it really is. Six key predictions for 2022 include: A focus on building an agile, resilient supply chain.

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Boutique Hotel News

FEBRUARY 21, 2023

UK: Global travel technology company OYO has added 40 UK hotels to its platform and doubled its revenue in 2022 compared to 2021. Recently, OYO released its annual global travel trends index which revealed that London, Plymouth, Middlesbrough, Leicester, and Brighton were the UK’s most popular holiday destinations of 2022.

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Modern Restaurant Management

JULY 27, 2022

Most notably, consumer spending at restaurants appears to be holding-up relatively well this summer despite aggressive menu-price increases in the first-half of the year." Consumer spending at restaurants appears to be holding-up relatively well this summer despite aggressive menu-price increases in the first-half of the year.

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Hotel Owner

JANUARY 11, 2024

The Atholl Hotel in Aberdeen has reduced its asking price from £3.5m The hotel’s totalised net turnover for the year ended 30th November 2022 was £2.07m. down to £3.2m to “better reflect” the market. Co-owners Gordon Sinclair and Richard Nicoll first marketed the 34-bedroom property in June last year.

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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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Revenue Hub

OCTOBER 22, 2024

As we look toward 2025, global pricing trends reveal a resilient industry, but one marked by stark regional differences. Latin America leads the charge Latin America has emerged as the star performer in hotel pricing recovery. The hospitality landscape in 2024 is a study in contrasts. With a remarkable 12.2%

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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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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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Hospitality Magazine

JANUARY 24, 2024

Freyja fast became one of the city’s most lauded restaurants with Bang at the helm since 2022. The menu is priced at $350 per head, and includes a welcome glass of Pernet et Pernet Champagne. Bookings are now open with sittings commencing at 6pm from 8-10 February.

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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. Substantial price hikes on restaurant menus are causing consumers to choose other options aside from eating or taking out, and a ‘tipping point’ is on the horizon where inflation will depress overall demand.

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Modern Restaurant Management

MAY 9, 2022

In our April 2022 monthly industry impact report, QSR sales in the US are flat at 0.2 percent in Q1 2022 compared to the same quarter last year. And as we examine Q1 2022, we see that QSR performance continues to lag. In March 2022, traffic was down -8.5 percent in the first three months of 2022.

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Modern Restaurant Management

SEPTEMBER 13, 2022

When looking at the impact the breakfast daypart had on trends for August 2022, we found that: For most of 2022, breakfast maintained relatively positive traffic performance YOY. percent YOY and has been trending positively since June 2022. The average QSR price is at its highest since 2020 (+16.3

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Hospitality Net

JUNE 3, 2024

The 2022 vintage was of outstanding quality and its release in the spring of 2023 followed several years of rising prices. Since then, the market has taken a turn for the worse: sluggish demand combined with significant inventories have sent prices into a downward spiral.

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Hospitality Net

APRIL 12, 2023

USD in 2022 compared to the previous year, the prices for additional services such as breakfast, room service, and spa treatments were only raised by an average of 7%. While the Average Daily Rate (ADR) in Europe increased by 18.5%

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Hospitality Magazine

MARCH 27, 2024

The wine professional spent 11 years at Merivale overseeing the beverage programs of more than 70 venues until his departure in 2022. And while each wine has been meticulously selected, bottles at Hunters Hill Wine Room cover a wide range of price points to suit every budget.

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Finance & Development : Lodging Magazine

AUGUST 10, 2023

DALLAS—Commercial real estate prices are showing signs of stabilizing as inflation moderates and the Federal Reserve nears the end of its interest rate hiking cycle, according to a new CBRE survey. Commercial Real Estate Prices Show Signs of Stabilization appeared first on LODGING Magazine.

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Hospitality Magazine

SEPTEMBER 16, 2024

From cyber security, tipping, and payment solutions to financial wellbeing, practical business advice, and produce price tracking, technology innovators are helping each part of the industry run more effectively and efficiently. Its new price tracking feature allows purchasers to access real-time pricing across 4,000 items and suppliers.

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Modern Restaurant Management

OCTOBER 24, 2022

Restaurants and customers are feeling the effects of inflation, according to the third quarter 2022 data for the Yelp Economic Average (YEA) report, The report reveals that inflation experiences have intensified for consumers in every state in the U.S. percent from 2022,” added Mudan.

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Modern Restaurant Management

JULY 21, 2022

In May 2022, the annual rate was 8.6 Come June, the Labor Department's Consumer Price Index saw that annual rate climb even further to 9.1 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.

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Modern Restaurant Management

APRIL 10, 2024

And despite warnings of an imminent recession at the end of 2022, the U.S. Adapt to Growing Price Fatigue Since the pandemic, controlling food costs has been a major challenge for restaurant operators. When prices for staple ingredients like chicken rose dramatically in 2023, restaurant operators were forced to increase their prices.

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InnQuest

JULY 11, 2022

Listed below are some of the most influential and profitable hotel marketing strategies for 2022 – . This is why we offer competitive pricing, without sacrificing quality or functionality in our software solutions. Book a demonstration of our award-winning hotel management software here.

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Boutique Hotel News

MARCH 14, 2023

This represents a premium of around 52 per cent on the volume-weighted average price (VWAP) in the three-month period leading to the end of January. As part of the agreement, Cvent stockholders will receive $8.50 per share in cash. The transaction is expected to close mid-year 2023.

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Hotel Owner

APRIL 4, 2023

Award-winning hotel Raithwaite Sandsend, located in Whitby, North Yorkshire, has been sold as a joint venture to property developers Galliard Homes and O’Shea Group off a guide price of £12m.

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Hospitality Magazine

AUGUST 19, 2024

The most popular time to order food on DoorDash is 6pm on Saturday, with the platform noting a 31 per cent increase in same-store orders, a 4 per cent rise in same-store pickup orders, and 32 per cent growth in same-store delivery orders from financial year 2022-2023.

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Modern Restaurant Management

APRIL 26, 2023

At a high level, the findings indicated that reported usage across restaurant segments and revenue channels has fallen compared to Q4 2022. On the bright side, sales continue to perform positively compared to last year, primarily driven by price increases throughout 2022. percent YOY) exceeded Food-At-Home prices (+8.4

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Modern Restaurant Management

JANUARY 30, 2024

Net sales are primarily driven by average check increases and pricing opportunities are diminishing. With little margin for taking price, brands will need to adopt a broad perspective, focusing on creative traffic-driving strategies, and get down into the specifics by analyzing local competitor and consumer data. Inflation slowed to 3.4

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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. However, when asked in Q1 2022, just 81 percent had made a weekly stop. Gen Z respondents reported a decrease in full-service visits, too, from 33 percent in Q4 2021 to 15 percent in Q1 2022.

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Modern Restaurant Management

NOVEMBER 1, 2022

Restaurant guests in cost-saving mode are eating out less and more conscious of menu prices, according to Restaurants: Consumer Trends Fall 2022/Winter 2023 a report produced by Provoke Insights in collaboration with Modern Restaurant Management (MRM) magazine. The study was in-field from Autumn 2022.

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Modern Restaurant Management

MARCH 15, 2024

billion in sales in February 2022. Many processors offer different deals, technology, pricing and other unique options. Interchange Plus – the pricing adds a markup of a set percentage above the interchange rate to each transaction, having the processor take the markup as its payment.

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Boutique Hotel News

JANUARY 16, 2023

“Top-line performance has generally been robust as we emerged from Covid during 2022 and although inflationary pressure has been impacting the UK economy, it is encouraging that there are signs of this starting to ease; wholesale gas prices have fallen in recent days and data shows that the economy unexpectedly grew in November 2022.

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