Modern Restaurant Management

FEBRUARY 1, 2023

And in 2023, that’s the problem most hiring managers in the restaurant industry are facing. When deciding where to recruit restaurant workers online, many job platforms promise to plaster your jobs across the Web for a fixed price. We all know that for restaurants – reputation is everything. It all comes down to your staff.

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Modern Restaurant Management

APRIL 10, 2024

According to September 2023 numbers from the National Restaurant Association , 49 percent of restaurants reported year-over-year increases in same-store sales. economy demonstrated resilience in 2023—with GDP, employment rates and consumer spending remaining relatively stable or even growing. Coffee in 2023.

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Modern Restaurant Management

DECEMBER 21, 2022

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. In 2023, we can anticipate businesses really focusing in on value and doing what they can to attract and retain both employees and guests. Don’t be afraid to increase price.

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Hotel Owner

MARCH 15, 2023

Corporation tax is set to rise from 19% to 25% for firms with profits over £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget. For households, the chancellor revealed that the Energy Price Guarantee will remain at £2,500 until June. by the end of 2023.

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Boutique Hotel News

JANUARY 16, 2023

[SPONSORED CONTENT] Cvent highlights some key findings from its latest Travel Manager Report and how venues can best capture demand in 2023. According to the new Cvent Travel Manager Report: Europe Edition December 2022 , corporate travel managers seek value, sustainability, and cost-cutting opportunities in 2023. Supplier takeaway.

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STAAH

NOVEMBER 29, 2022

With the industry still recovering from the pandemic and inflation impacting both revenues and operational costs, what should budget 2023 consider? The unprecedented volatility has made the task of budgeting for 2023 daunting. Opt for dynamic pricing. Heard of zero-based budgeting? Start with data gathering.

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Revenue Hub

AUGUST 10, 2023

Budget concerns driven by rising inflation can affect leisure traveler’s plans – but the right strategy can help to ease those concerns. Subscribe to our weekly newsletter and stay up to date Our recent survey identified the key things that influence travelers when making vacation decisions and how price plays into it.

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Revenue Hub

OCTOBER 20, 2023

Budget season is upon us, and around the world hotel owners and operators are buried deep in data trying to come up with 2024 performance numbers. NB: This is an article from Hotstats What unique challenges are hotels facing in the 2024 budgeting and planning process? Rooms Profit Margin by Country 2019 – 2023 3.

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Modern Restaurant Management

DECEMBER 27, 2022

Inflation is causing food prices – and food insecurity – to soar. . Luckily, tech solutions have become more affordable and accessible for food businesses of all sizes and budgets, allowing them to increase transparency, accuracy, safety, and quality. . Technology can boost business operations in a variety of ways.

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Revenue Hub

FEBRUARY 9, 2023

While demand for air travel is expected to continue rising in 2023 as Asia Pacific opens, it will be essential to ensure airlines are paying attention to travelers’ needs and expectations to develop their airline marketing strategy. As economic pressures rise in 2023, price will continue to impact how travelers make their decisions.

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Modern Restaurant Management

DECEMBER 21, 2022

Modern Restaurant Management (MRM) magazine asked experts for their thoughts on trends and challenges that will affect the restaurant industry in 2023. "With consumer behaviors now firmly established around off-premise dining solutions due to the pandemic, off-prem will remain a prevalent option for 2023. For part two, click here.

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InnQuest

AUGUST 3, 2023

However, many visitors also come back because they believe the hotel’s price-to-value ratio is competitive. Power’s 2022 North America visitor satisfaction report , the pandemic has significantly accelerated the rise in guest expectations and loss in guest happiness across almost all hotel segments, from budget to luxury.

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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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Hotel Owner

OCTOBER 17, 2022

Newly appointed chancellor Jeremy Hunt has reversed almost all of the mini-budget commitments made by previous chancellor Kwasi Kwarteng last month, in a statement made at the Treasury today (17 October). Hunt has also confirmed that the energy price guarantee will no longer last for two years, and will instead last until April 2023.

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Modern Restaurant Management

FEBRUARY 27, 2023

Restaurant365’s State of the Industry Customer Survey shows that 60 percent of surveyed customers plan to expand their businesses in 2023 despite expected increased labor and food costs. Businesses can run promotions, such as early bird specials, to attract budget-conscious diners and use an email database to get the word out.

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Modern Restaurant Management

JULY 9, 2024

percent YOY) and throughout 2024 were primarily due to price increases, which have surged nearly 50 percent in some segments since the pre-pandemic era and were still up 3.0 Additional insights into QSR sales, traffic, and pricing trends are in the Revenue Management Solutions June Trend Report. Positive net sales in May (+1.9

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Modern Restaurant Management

MARCH 23, 2023

But in 2023, month-over-month trend lines have evened out. percent YOY) was the top-performing QSR channel in February 2023. Yet QSRs are slowing down price increases to meet tightening budgets. The average price flattened, up 14.0 A week ago, we lauded a flat line (on a graph, that is). percent YOY. Dine-in (+29.8

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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. percent in Q4 2023.

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Modern Restaurant Management

MAY 22, 2023

“As budgets are tightening, restaurants must acknowledge that eating out is becoming a luxury,” Provoke Insights President Carly Fink told MRM. It’s no surprise that inflation is taking a toll on the restaurant industry and Americans are noticing the price increases. The study was in-field in April 2023.

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Hospitality Magazine

DECEMBER 1, 2024

Other considerations Budget Budget is often aligned with occasion and can vary greatly depending on your customers’ confidence with wine. There are quality Australian wines at all price points, and the customer will have a more enjoyable experience if you stick to their budget, and may be more inclined to order another bottle.

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Hospitality Magazine

FEBRUARY 6, 2023

People will adjust their budgets and choices, and you’re flexible enough to meet them with fresh new offers. A digital menu gives you endless flexibility to experiment with new dishes, drinks and pricing. If something doesn’t work, it’s gone in minutes, or you can raise the price if it’s a success. Upgrade your menu.

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Hotel Business

JANUARY 4, 2023

Hospitality management platform Cloudbeds has shared its predictions for the five key trends set to shape the hospitality industry in 2023. Cloudbeds predicts travelers will still continue to seek out unique experiences, so even lower-budget properties that can deliver on that will benefit from all the value-seeking travelers next year.

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Hotel Business

JANUARY 29, 2024

Top findings include: Hotels are projected to pay employees a record of more than $123 billion in wages, salaries and other compensation in 2024, up from $118 billion in 2023 and $102 billion in 2019. billion in 2023 and $43.4 billion in 2023 and $24.3 billion in 2024, up nearly 5% from 2023 and almost 24% above 2019 levels.

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Boutique Hotelier

FEBRUARY 16, 2023

We caught up a handful of excellent hotel chefs to discover what’s on their menus for 2023 and how they are working to overcome the challenging F&B landscape over the next 12 months. What challenges are you facing with both menu creation and sourcing the right suppliers at the right price? How do you decide on new menus?

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Revenue Hub

FEBRUARY 9, 2023

Currently, 42% of American travelers say high travel prices have kept them from traveling in the past month, down from 49% in December. In addition, over half of American travelers say that travel is a priority in their budget in the near term. Travel costs has abated as a travel deterrent compared to last month.

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Hotel Owner

NOVEMBER 30, 2022

Oliver Brown, the general manager of Wivenhoe House Hotel, said: “In 2023, hoteliers will be expected to build their business strategy on conscious decision-making behind the scenes. We already have more on the books for 2023 than we did this time last year for 2022. Conscious considerations and decision making.

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Modern Restaurant Management

AUGUST 2, 2024

2024 By the Numbers Participants reported continued food and labor cost increases with slight shifts compared to the end of 2023. Those totals are down from the end of 2023 when 89 percent said labor costs increased, with 54 percent reporting 1 percent to 5 percent. LTO Impact A new Placer.ai

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Modern Restaurant Management

OCTOBER 20, 2023

2023 brought new challenges to the table for the restaurant industry, from rising food prices due to inflation to continued disruptions in the supply chain. A Restaurant Pulse Check by Vericast found that nearly half of consumers plan to spend less on dining out in 2023. billion consumers with restaurants every year.

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Hotelogix

NOVEMBER 28, 2024

Follow these practices to make the most of your system: Keep Rates Competitive - Adjust prices frequently based on demand, market trends, and competitor rates. Many systems offer automated pricing tools. Focus your efforts and marketing budgets accordingly. Use these to stay on top of potential issues.

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Boutique Hotel News

OCTOBER 17, 2022

UK: New chancellor Jeremy Hunt has announced that the majority of measures in his predecessor Kwasi Kwarteng’s mini-budget will be scrapped. The energy price guarantee will no longer last two years – it will last until April next year and then be reviewed.

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Boutique Hotel News

JANUARY 27, 2023

The company, which has €18 billion of assets under management, has committed to reducing embodied and operational CO2 emissions by 30 per cent and 50 per cent respectively before the end of 2023. 2023 is likely to see further political and economic uncertainty which will see winners and losers on the exchange rate see-saw.

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Revenue Hub

NOVEMBER 15, 2022

If your hotel is not currently considering including new technology in the 2023 budget, below are 5 things you may wish to consider – plus an added bonus: 1 reason NOT to adopt new technology. 2023 is time to do less with more. Ask your team what they need and include their wish list in your budget considerations.

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Modern Restaurant Management

JANUARY 13, 2023

Since the pandemic, restaurants have endured a plethora of issues ranging from fluctuating dining restrictions to supply chain issues to rising food prices. Evidently, restaurants will still have to work to meet increased demand, and customer service must be a focal point even when tightening budgets.

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Modern Restaurant Management

JANUARY 30, 2023

Technologies such as the Internet of Things (IoT) can help them maximize 2023 financials by: Offering a better experience to diners and employees Increasing efficiencies and lowering expenses These technologies empower restaurants in various ways—from automating tasks to identifying emerging risks.

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Hotel Owner

OCTOBER 17, 2023

The RSM Hotels Tracker: Focus on Asset Classes found that whilst occupancy levels still sit behind pre-pandemic levels, many consumers are also trading down to budget hotels, meaning middle market hotels are being squeezed. for budget hotels. in August) and budget hotels (£48.44 in July, falling to £333.33 to £101.49 in August).

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Hotel Owner

FEBRUARY 15, 2023

in January 2023, compared with a fall of 0.1% The largest downward contribution to the change between December 2022 and January 2023 came from transport (particularly passenger transport and motor fuels), and restaurants and hotels, with rising prices in alcoholic beverages and tobacco partially offsetting upward contribution to the change.

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Revenue Hub

FEBRUARY 6, 2023

Subscribe to our weekly newsletter and stay up to date The latest set of inflation data, which the Bureau of Labor Statistics released in January 2023 based on December 2022 data, showed a 0.1% dip in prices from November. According to a study by NerdWallet, hotel prices are still very much on the rise. To this effect, the U.S.

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