Modern Restaurant Management

MARCH 3, 2023

Key findings illustrating the industry's economic conditions include: Growth will continue : The foodservice industry is forecast to reach $997 billion in sales in 2023, driven in part by higher menu prices. million by 2030. Consumer spending at foodservice outlets was up 4 percent due to higher prices, reports The NPD Group*.

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Revenue Hub

SEPTEMBER 13, 2023

According to the Sustainable Hospitality Alliance, per-room carbon emissions need to be reduced by at least 66% by 2030. For example, Hilton is one of the first major hotel companies to take innovative and science-based action to address climate change by pledging to reduce their waste by over 50% by 2030.

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Revenue Hub

JUNE 11, 2024

A study by PwC predicts that the most significant boosts to GDP from AI will be in China (26% in 2030) and North America (14.5%), totaling a staggering $10.7 trillion and accounting for nearly 70% of the global economic impact. The economic gains from AI are not to be underestimated. billion by 2026, growing at a CAGR of over 9.7%

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Serviced Apartments

DECEMBER 12, 2024

Radhika Gorsia, account executive at Aries, highlighted a 20-25 per cent uplift in existing and new clients wanting to relocate in the Middle East. For example, the UAE will add 23,000 bedrooms by 2030. This year’s Altos featured panel discussions, presentations, and an awards ceremony.

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Boutique Hotel News

OCTOBER 28, 2022

This intense year of development represents a major milestone in Qatar’s goal to welcome six million visitors a year by 2030. Kostas Nikolaidis, STR’s account executive for the MEA region says: “There is no doubt that Qatar hotels will enjoy record-breaking performance for the upcoming World Cup period.

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Modern Restaurant Management

NOVEMBER 17, 2020

In order to push catering for this holiday season, restaurants can provide pricing incentives in order to attract more customers, offer a-la-carte options for holiday meals, and push out more marketing material showing their sanitary precautions when preparing food to ease consumer's worries. percent CAGR between 2020 and 2030.

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The Restaurant Times

JUNE 6, 2023

CAGR from 2023 to 2030. With this information readily available, you can make informed decisions regarding pricing and menu engineering to maximize profitability. Vendor Management and Price Comparison Maintaining strong relationships with vendors and suppliers is essential for any restaurant. million in 2022.

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Modern Restaurant Management

FEBRUARY 18, 2020

In my fiscal and strategic view, restaurant groupings of multiple locations and offerings using one accounting, HR, and legal system will continue to disrupt the industry, AND those single-location restaurant business models struggling to eke out a living. competition for quality team members and retention of them. Saleem Khatri, CEO of Lavu.

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7 Shifts

AUGUST 2, 2023

found Gen Z workers are set to triple by 2030 , reaching 51 million. Make sure to consider these key factors from both the administrative and employee perspective: Pricing: Consider whether the platform charges a flat fee (monthly or annual), a percentage of tips, or a combination of both. A report commission by Snap Inc.

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The Restaurant Times

MARCH 6, 2023

This is because your net profit margin accounts for all restaurant-related costs, not just those related to food preparation and service. Their menu prices also tend to be higher than those of other restaurant types because they have higher labor, overhead, and operational costs than other businesses.

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Modern Restaurant Management

OCTOBER 16, 2020

It provides the whole organization a really effective way to manage purchasing and price updates on a daily basis” Biggest Fall Food and Drink Trends. A new study by SOMAR-certified market research and consulting firm’s opines food authenticity market to grow at a steady pace through 2030. by 2030 over the value in 2020.

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Modern Restaurant Management

DECEMBER 16, 2019

November and December purchases typically account for upwards of 50 percent of annual gift cards sales. While gift cards account for 6.3 Global food prices are rising worldwide. Twenty-six countries in the index report food price inflation of 5 percent or higher in the past year. The Role of an Event Professional.

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Modern Restaurant Management

FEBRUARY 10, 2020

with the plant-based burger accounting for up to 10 percent of all Whoppers sold. The pledge aims to reduce signatories’ greenhouse gas emissions from food purchasing by 25 percent by 2030. Both Burger King and Carl’s Jr. have doubled down on the plant-based opportunity in the past year. to its menu.

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