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With profit margins ranging on average from three to nine percent , restaurants are continually looking to keep costs down. How do restaurant operators find efficiencies to minimize costs without degrading quality or service? The industry has since entered recovery mode , but returning to pre-pandemic levels won’t be easy. Consumers have shown interest in returning to restaurants, but it’s a slow march, not a cavalcade.
Running a restaurant day-in and day-out takes a ton of mental energy. It can be difficult to come up for air and really look at the why behind what you're doing. Schedules are made, payroll is run, and employees checked-in with—but it's tough to know if you're working as efficiently or as profitably as possible. With 7shifts restaurant reporting and analytics, you can analyze your restaurant labor performance and make strategic decisions that reduce costs & increase profits.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
Today, guests expect to be provided with a consumer-centric hotel experience from the word go, including when they are choosing a destination. They also want new experiences, faster customer service, the utmost comfort, and the list continues to grow. So, how can hotel operators meet these needs?
When was the last time you really looked at your restaurant? It’s time. You have a restaurant website. It has photos on it, and it includes an online menu. Your restaurant website works for what you need. Or does it? If your website is more than three-five years old, it’s time to take a long hard look at the customer experience. While it is important that your website works for what you need, it’s even more important for it to work for what your customers need.
Every industry felt the impact of the labor crunch during the pandemic and now, as recovery efforts are underway, businesses are struggling to recover employees quickly enough to meet the rise in demand. Particularly impacted by the staffing shortage, restaurants are struggling to beat the labor crisis, with staffing shortages felt in both back-of-house and front-of-house staff.
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Every industry felt the impact of the labor crunch during the pandemic and now, as recovery efforts are underway, businesses are struggling to recover employees quickly enough to meet the rise in demand. Particularly impacted by the staffing shortage, restaurants are struggling to beat the labor crisis, with staffing shortages felt in both back-of-house and front-of-house staff.
The National Restaurant Association recently published a table listing the top concerns for restaurants over a three-year period. Not surprising, as it has been reported on consistently, recruiting employees is the top concern for restaurants in fall of 2021, after Coronavirus shook up our economies and our definitions of success. Coronavirus did take first place as a concern in 2020, when the pandemic was front and center and still shutting down or modifying dine-in practices.
The restaurant sector is busy and competitive. To stand out from the crowd, driving customer experience is vital for restaurants. In turn, this requires developing a distinct brand image. Your restaurant branding communicates who you are and what to anticipate from you, from your marketing to your menu to your main meals. The food’s flavour, the staff’s demeanour, and the decor’s style must all come together to produce something unforgettable. .
Before the pandemic, hotel brands were at a crossroads with increasingly brand agnostic consumers and ever-expanding brand portfolios. But there is evidence that the pandemic may have led to consumers’ renewed appreciation for a well-recognized brand name that assures quality and instills trust. This change in consumer behavior will impact brand management strategies in several significant ways.
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
Control your restaurant spending to propel your restaurant growth in 2022. It’s been a wild ride for restaurants since Covid came around. Restaurants all across the country have gotten creative and pivoted in ways they could never have imagined, all while keeping their doors open. Even before Covid, your goal is and has always been to control food and labor costs.
There’s no denying consumer behavior has fundamentally shifted over the last couple of years, and it’s transformed the landscape of the restaurant industry along with it. Indeed, we’ve entered a new era of customer habits –– much of it catalyzed by the pandemic, but some of which was already beginning to take shape even prior.
The holidays are on their way - and for many restaurants, that means an increase in sales. Even in the pandemic year of 2020, before vaccines, we saw bumps in both sales and shifts scheduled in and around the tent pole holidays. Many restaurants are still working around hiring and staff retention struggles, meaning they may be unable to fully capitalize on the demand of the holidays.
Driven by a diverse and exciting ecosystem of passionate, ambitious, and often young entrepreneurs, the Food & Beverage (F&B) sector is a highly competitive environment full of immense challenges and exciting opportunities. Expert Market’s 2024 industry report, sponsored by Toast, is informed by a survey of 522 U.S. food and beverage professionals, from restaurant owners to food service managers, providing insights into the real-time challenges and opportunities within the industry.
Sustainability is a concept that has gained popularity everywhere, including in the restaurant industry. It is the key to a long-lasting and effective F&B business. When it comes to food trucks, a lack of sustainability can give rise to multiple problems. For a mobile business like food trucks catering to multiple locations, it is relatively harder to keep everything clean and be eco-friendly.
Today, guests expect to be provided with a consumer-centric hotel experience from the word go, including when they are choosing a destination. They also want new experiences, faster customer service, the utmost comfort, and the list continues to grow. So, how can hotel operators meet these needs?
Moxy Portland Downtown and Graves Hospitality announced their search for local chefs to launch their Food Cart Alley. In a neighborhood long known for its food trucks, Food Cart Alley is designed to permanently incorporate local purveyors into the hotel, allowing guests to have access to a variety of culinary options while simultaneously opening up to Alder for a street connection.
With today’s food trends moving toward the direction of fresh, healthy, local, and sustainable, the term “plant-based” continues to enter the conversation on every playing field. Plant-based food businesses, events, and pop-ups are frequently entering the market and it has become exceedingly clear that this is not just a fad. Often associated with the term “Vegan”, plant-based foods have evolved and now target all types of eaters: vegans, vegetarians, flexitarians,
Managing HR tasks like payroll, compliance, and employee data can overwhelm small businesses. That’s where a Human Capital Management (HCM) solution comes in. Our eBook, Why Every Small Business Needs an HCM Solution: A Comprehensive Guide , shows how an HCM system automates tedious processes, ensuring your business stays compliant and efficient. You’ll learn how to simplify payroll, eliminate costly errors, and empower your employees with self-service tools.
The right concept is crucial when opening your restaurant , a new location, or refreshing your brand. Get your concept right and you'll be on your way to rave reviews, recommendations, and loyal clientele. Get it wrong—with a menu that doesn't fit the ambiance or pricey dishes not suited for the clientele—and would-be regulars will at best feel confused and at worst never return.
Nicolas Budzynski is Global Operations Director for LPM Restaurant & Bar which is a Riviera-inspired restaurant and bar, based in Dubai. He overlooks the restaurant operations and brand development for LPM globally. Nicolas graduated with a Bachelor’s Degree in Hospitality Management from the Institute Paul Bocuse in Lyon, France. Since then his graduation, he has gained experience across various markets and regions (including the Middle East, Turkey, Asia, Europe, and the USA) with an array
Before the pandemic, hotel brands were at a crossroads with increasingly brand agnostic consumers and ever-expanding brand portfolios. But there is evidence that the pandemic may have led to consumers’ renewed appreciation for a well-recognized brand name that assures quality and instills trust. This change in consumer behavior will impact brand management strategies in several significant ways.
Dive into the transformative potential of business automation within the hospitality sector. This comprehensive overview showcases how innovative technologies can streamline operations, reduce costs, and elevate guest satisfaction. Discover the advantages of integrating systems like automated check-ins, CRM, and energy management to not only save on expenses but also to provide a seamless and personalized guest experience.
BETHESDA, Maryland—With travelers back on the road, Marriott Bonvoy unveils a new breakfast program across four brands within its portfolio: Residence Inn by Marriott, SpringHill Suites by Marriott, Fairfield by Marriott, and TownePlace Suites by Marriott. Beginning in October at a limited number of hotels, the breakfast will feature a morning menu that caters to consumers’ tastes for customizable breakfast items, from hot sandwiches with a range of toppings to build-their-own bowls with their f
As restaurants hire new employees, they are finding it more difficult to come across experienced workers who can also train other team members. A major pain point for our clients has been navigating regulatory compliance issues such as corporate officer updates, alcohol license and permit renewals, and training team members in proper alcohol service protocol.
The holiday season is upon us. Big parties, holiday specials, and private events are, too. But this holiday season, like last year's, will be a unique one for the restaurant industry. We're still feeling the effects of the pandemic. The vaccine spring turned to a late-summer surge from the Delta variant, setting restaurant recovery back. We can't be sure what the next few months will look like, but we can look to last year's data to understand what lies ahead.
Jakob N. Layman | www.jakoblayma. Pailin is the kind of unassuming restaurant that puts diners at ease immediately and makes the rest of the world fall away [link].
Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.
The restaurant business is a fast-growing industry that is getting more competitive every passing day. To be successful, you have to be on top of your game by leveraging the available resources. It is important to note that all proper functioning restaurants may not be successful. But local restaurateurs are often oblivious to the power of the internet and still prefer traditional practices.
What can hospitality learn from retail when rethinking the customer experience? The retail sector is no stranger to having to adapt to new market conditions, with the competition from e-commerce. The more innovative retailers have transformed their real estate space into successful destinations by focusing on the physical experience of shopping, and arguably learning some lessons from hospitality on how to create unique experiences.
While sales continue to climb for restaurants in nearly every category, the upward trend is hard-fought. Dining rooms are open, but staff isn’t available. Commodities are in demand, but supply is short. Customers are coming but in new and disparate channels. Workers are back in their offices, sort of. So how do operators plan for 2022? To help guide its clients, who range from emerging full-service to large QSRs, Revenue Management Solutions took the temperature of more than 900 diners acr
This edition of MRM's "Ask the Expert” features advice from Buyers Edge Platform. Please send questions to Modern Restaurant Management (MRM) magazine Executive Editor Barbara Castiglia at bcastiglia@modernrestaurantmanagement.com. Taking inventory is one of the most tedious processes in restaurant operations. Chefs spend countless hours counting inventory, purchasing new ingredients, and tracking down more cost-effective substitutions for products that are either cancelled or out
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
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