Remove Business Remove Cost Reduction Remove Pricing
article thumbnail

What Can I Do to Reduce My Restaurant Supply and Labor Costs?

Modern Restaurant Management

Nobody has time for that when there is a crowded dining room, to-go orders flying out the window and customers complaining about their favorite menu items going up in price. At the end of the day, there are so many ways you can minimize your operational costs and make things easier for both you and your staff.

article thumbnail

What Restaurants Need to Know About PPP Forgiveness, Including Recent Changes 

Modern Restaurant Management

Imagine a pandemic shut your entire business down and thinking, “this will be temporary… a few weeks,” as many restaurant owners believed in late February and early March. One of the most popular provisions within the CARES Act was the Paycheck Protection Program (“PPP”), especially for small business owners.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Data: How Independent Hotels Can Compete With Large Chains

Revenue Hub

NB: This is an article from Lighthouse Subscribe to our weekly newsletter and stay up to date Ensuring your business is performing at its best and managing your property while simultaneously delivering exceptional guest experiences is a tricky balancing act.

article thumbnail

Growing a Restaurant Strategically – The Keys Are Alignment, Timing and Control

Modern Restaurant Management

There’s an art to scaling any small business intelligently. Typical restaurant KPIs involve monitoring costs around food, labor and supplies, pricing adjustments, table turnover rates during peak periods, customer wait times, promotion effectiveness, brand sentiment on review sites, and training completion rates.

article thumbnail

The Modern Revenue Manager: 7 Keys to Success

Revenue Hub

NB: This is an article from Amadeus Revenue managers are tasked with maximizing revenue and profitability, balancing occupancy and pricing, developing effective competitive demand strategies, understanding evolving guest needs, and more. Many of these sustainability efforts provide cost reduction benefits as well.

Pricing 107
article thumbnail

How to Drastically Cut Expenses in Your Restaurant (and Stay Profitable During COVID-19)

7 Shifts

So here’s the question a lot of restaurateurs are asking: how do you start drastically cutting expenses to give your business the best chance of recovery? If you change or restrict your staffing needs, then you will be able to reduce costs by nature of your service concept. Your prices – Last, but surely not least, are your prices.

article thumbnail

Accor launches Global Leadership Council to reshape corporate travel

Hotel Owner

Established to create a forward-looking vision for business travel and corporate meetings, the GLC connects business leaders responsible for corporate travel across diverse industries with senior executives from Accor. It is essential for both our clients and hospitality businesses to adapt to new demands and priorities.