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Catering to Families: The Untapped Potential in the Restaurant Industry

Modern Restaurant Management

Despite a general decline in dining frequency, families have shown resilience and an increased appetite for dining out, according to Revenue Management Solutions' Q1 Consumer Survey, “ Dining Dynamics in 2024: The Shifting Landscape of Consumer Tastes.” Strategies for Attracting Family Business Given a -2.1

Catering 194
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Competitors: Know Who They Are and How to Price Against Them

Revenue Hub

It also means monitoring their offerings and pricing. Pricing: Properties that offer similar room types at similar prices. Target markets: Properties that cater to specific traveler types, such as leisure, corporate, families, couples, or groups. Some hotels tie their pricing to just one or two competitors.

Pricing 98
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The dining trends Australian Venue Co. are investing in

Hospitality Magazine

The following series is filled with valuable insights from the country’s leading operators on everything from milestone moments to the impact of the cost-of-living crisis, what they’re tipping will be big in 2024, and the current staffing landscape. The next op-ed comes from Australian Venue Co Executive Chef Telina Menzies.

Catering 246
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How Sizing Up The Competition Improves Your Business Plan

Modern Restaurant Management

They want to see that you have researched your market , and your competition is part of that market landscape. Menu and Price Points. This includes places that may be a price point above or below yours. Closely related to the menu and price point is the quality of food your competitors are serving. Food Quality.

Pricing 230
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Competitor based pricing for hotels: A complete guide

SiteMinder

What is competitor based pricing? Competitor-based pricing or competition-based pricing is a data-driven approach where businesses use advanced analytics to set their prices based on competitors’ rates. But it’s not just about matching or undercutting competitors’ prices.

Pricing 105
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Meet the latest innovations in hospitality tech

Hospitality Magazine

Hospitality has rounded up some of the top players in the tech landscape that are offering useful services that are sure to boost efficiency in the workplace. The business deploys services that provide food access, enjoyment, and ease of use for diners and caterers, which is fundamental to the design.

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Inflation Takes a Bite at the Restaurant Industry; How Can Operators Cope?

Modern Restaurant Management

As is the norm in the widespread economic landscape of 2022, inflation has well-and-truly hit the restaurant industry. Additionally, menu prices at casual dining establishments rose by an average of 9 percent year over year from 2021. So what can restaurateurs and food business operators do to cope in this economic landscape?

Pricing 197