Modern Restaurant Management
JULY 7, 2020
In February 2020, the National Restaurant Association announced projections that restaurant industry sales would reach $899 billion this year, experiencing four-percent growth “mirroring general economic conditions.” That seems like a lifetime ago. The COVID-19 pandemic has caused restaurant sales to plummet. In many states, revenue has declined by as much as 80% over the same time period in 2019.
EATER
JULY 9, 2020
Grabbing sustenance from the People’s Bodega | Jaya Saxena. The People’s Bodega is a traveling food and necessities pantry providing protesters with the fuel they need to keep going Over the past month, mass protests calling for the abolition of police and a national reckoning with anti-Blackness have spread across the country. In that time, various volunteers and organizations have risen to the challenge of feeding those on the frontlines, like the Sikh gurdwaras serving dal to hospital workers
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7 Shifts
JULY 10, 2020
Restaurants took a major hit from COVID-19 in 2020, with sales dropping by 79% in mid-March. If your restaurant was forced to shut down during the worst of the pandemic, then you’re not alone. And now, many states and provinces have already begun rolling out their plans to reopen the economy, and many restaurateurs are now planning out their grand re-opening.
Restaurant Engine
JULY 5, 2020
Most insurance companies have denied claims from restaurant owners resulting from the COVID-19 pandemic. Business owners counterclaim they are entitled to benefits in Business Interruption Insurance policies that protect against lost income after a covered peril affects a policyowner. Insurance companies typically cite the contract clause of force majeure as justification for denying claims.
Speaker: David Worrell, CFO, Author & Speaker
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.
Modern Restaurant Management
JULY 8, 2020
One year ago we walked into a Cambridge, Massachusetts restaurant for the first day of field research. Our palms were sweaty from the excitement and anxiety. We were greeted by the manager of the restaurant and shared with him the concept of contactless dining, an experience where dine-in guests can view menus, order, and pay directly from their mobile phones.
EATER
JULY 10, 2020
These contestants remind me what joy feels like | Supermarket Sweep/Facebook. There’s nothing more comforting than the pure nostalgia of this delightfully deranged ’90s classic In the ongoing horror that is this global pandemic, a pure beacon of light shone down from the heavens onto my Netflix app in the form of several seasons of Supermarket Sweep , a 1990s game show that involves adult humans running around supermarkets like absolute maniacs.
Hospitality Management Today brings together the best content for hospitality management professionals from the widest variety of industry thought leaders.
Restaurant Engine
JULY 9, 2020
Workers in the restaurant industry have lost double the number of job losses than any other NAICS industry. From March through June, the industry has laid off 3,130,900 workers. Restaurants are on track to lose $240 billion in revenue by the end of the year. Economists at the National Restaurant Association (founded 1919) agree , “Restaurants were hit harder than any other industry during the pandemic, and still have the longest climb back to pre-coronavirus employment levels.” The c
Modern Restaurant Management
JULY 7, 2020
Food delivery aggregators: You’re well past your expiration date. While there are a slew of challenges facing both diners and restaurants as the COVID-19 pandemic continues, one notable element often omitted from conversation are the delivery drivers who actually make these services work, but we’ll get to that in a moment. The basic issue here is the math: Restaurants already operate on margins of about 10 percent once they’ve paid for ingredients, space, and their workforce, s
EATER
JULY 7, 2020
A look at the local organizers, homemade McMuffins, and pop-up bodegas that are powering demands to defund the NYPD [link].
The Restaurant Times
JULY 5, 2020
Amid the pandemic crisis, restaurant operators all across the globe are facing unique challenges to fulfill the new consumer expectations. With lockdown restrictions finally starting to ease, restaurants are beginning to plan what the next wave of a new normal could look like. The prime focus of restaurant brands is around providing functional benefits and operational changes to ensure that both the diners and employees have a safe, contact-free experience.
Speaker: Jennifer Hill
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.
Restaurant Engine
JULY 10, 2020
Analysts have published surprisingly upbeat commentary on several restaurants during the past few weeks. Highly trained, well paid, and supported by sizable research teams, Wall Street’s analysts often appear on television to discuss their influential forecasts. Yesterday, analysts at the $23 billion investment bank Credit Suisse initiated coverage of Darden Restaurants with an Outperform rating and share price target of $95, suggesting upside of 33% from Darden’s current valuation.
Modern Restaurant Management
JULY 6, 2020
Let’s start with an uncontroversial premise: California’s complex, ever-changing gauntlet of employment laws is difficult for any company to navigate. Yet you may still be wondering why, aside from the headache, does it matter for my restaurant? If you’re fortunate enough not to have been on the receiving end of a civil or administrative complaint from an employee or a government employment agency, you may not realize just how deep the downside risk can be in employment dispute
EATER
JULY 7, 2020
“Everyone I know working in restaurants right now is scared. Just wearing a mask would alleviate so much anxiety for us.” [link].
Xotels Hotel Revenue Management
JULY 10, 2020
Even more so during the COVID-19 crisis. Covid-19 has exposed weaknesses both in hotels managing Revenue Management internally as well as the traditional outsourcing model and Revenue Management software providers. Nowadays, hotels need to be more resilient and agile than ever before. Being prepared for anything, whereby reducing risk is top priority.
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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.
Restaurant Engine
JULY 7, 2020
The popular hashtag #BlackoutTuesday from June 2 has returned in a new event, Blackout Day 2020, occurring right now. Instagram’s algorithmically selected cover post for the hashtag #BlackoutDay2020 states the following synopsis of the day, “Today, I am participating in The Blackout Coalition’s economic protest by not spending ANY money and, if I must spend, I pledge to only do so at Black Owned Businesses.” Instagram users have posted over one million times with the #Bla
Modern Restaurant Management
JULY 7, 2020
In this edition of MRM News Bites, we feature the latest delivery platform consolidation, the release of PPP loan information and ServSafe Dining Commitment. Uber To Acquire Postmates. In a $2.65 billion in an all-stock transaction that brings together two top players in third-party delivery, Uber will acquire Postmates. Following the closing of the transaction, Uber intends to keep the consumer-facing Postmates app running separately, supported by a more efficient, combined merchant and deliver
Hotel Management Network
JULY 9, 2020
The Buccini/Pollin Group (BPG) has announced the acquisition of the Renaissance Baltimore Harborplace Hotel in the US from Sunstone Hotel Investors. The post Buccini/Pollin Group acquires Renaissance Baltimore Harborplace Hotel appeared first on Hotel Management Network.
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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.
Restaurant Engine
JULY 8, 2020
Restaurants are doing their best to assure their patrons remain safe while dining. Since yesterday, the U.S. has added 46,329 new cases of COVID-19 and 322 more people have died from the disease. Operators are becoming increasingly mindful of safety protocols, not only for health reasons but also to avoid fines or forced closure by police departments. “If we receive a complaint from a member of the public who is concerned that a restaurant is not in compliance, we will investigate and insp
Modern Restaurant Management
JULY 8, 2020
Many industries have suffered severe financial losses due to the coronavirus lockdown – perhaps none more so than the restaurant industry. Lendio recently gathered statistics on the $8 billion in PPP loan approvals that we helped facilitate for 100,000 small businesses. We found that of all industries we helped generate loans for, the restaurant industry ranked third in volume (behind construction and healthcare) at just over $150 million.
EATER
JULY 10, 2020
Over the past week, chef Maya Lovelace has shared dozens of sobering allegations about some of Portland’s most lauded restaurants, shaking the city’s buzzy dining scene to the core. The extent of the fallout still remains to be seen. [link].
The Restaurant Times
JULY 8, 2020
The number of food delivery orders placed online has seen a staggering increase in Saudi Arabia in recent years. According to statistics, the revenue in Saudi’s food delivery market is expected to show an annual growth rate of 9.8% by 2024. Online ordering is not only favorable for customers but it also an excellent way for restaurants to increase the overall sales volume and provide better customer support.
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.
Restaurant Engine
JULY 8, 2020
Create an engaged team and watch them provide better customer service. Working in a restaurant is a fast-paced environment that often leaves your employees exhausted and stressed out. There is the chaotic, very quick lunchtime rush, substitutes on diners’ orders, and things to remember on an ongoing basis. Plus, in today’s environment, restaurant staff has to work tirelessly to keep clean and safe.
Modern Restaurant Management
JULY 10, 2020
Tapping into its data hub that shows real-time data from more than 350,000 restaurants and restaurant professionals across the US and Canada., the team at 7shifts created an infographic that tells how restaurants have been impacted by COVID-19 as well as indicators of what to expect moving forward. “While we're seeing strong early signs of restaurants bouncing back, it's going to happen slowly and not without precautions," said CEO Jordan Boesch. "With restaurants cutting s
EATER
JULY 8, 2020
Paddleboarding in Minnesota’s Voyageurs National Park | Getty Images. America’s larger parks are attracting major crowds. Here’s where to avoid them As summer creeps into full swing and cities across America do the dance of easing, and then reinstating, COVID-19 restrictions, people are clamoring to be someplace — anyplace — besides their own homes.
The Restaurant Times
JULY 6, 2020
Cloud kitchens, also known as dark kitchens, virtual restaurants, delivery-only restaurants, and ghost kitchens, have disrupted the restaurant industry and opened up new horizons for restaurant operators. The cloud kitchen concept has already been making a mark in geographies such as India and Singapore, where the demand for doorstep food delivery is continually increasing.
Speaker: Joe Sharpe and James Carlson
Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.
BizBash
JULY 9, 2020
While COVID-19 may have thrown shade on this year's summer plans, we're breaking through the clouds to shine a spotlight on summer 2019's steal-worthy event ideas.
Modern Restaurant Management
JULY 9, 2020
The global pandemic of Covid-19 is fast tracking infection control technologies and products in public restrooms. While cleanliness has always been a goal in designing restrooms, coronavirus has underscored the need for hygienic, sterile and safe environments. Companies, educational institutions and municipalities are all now evaluating new procedures and products for their restroom facilities.
EATER
JULY 9, 2020
Heinz UK. Plus, Alinea makes a coronavirus canape, and more news to start your day We all scream for salad cream. In proof that not even brands are immune from the cabin fever-ideas of quarantine, Heinz UK has introduced “ Creamz ,” DIY kits that allow you to make ice cream of various Heinz condiments — ketchup, mayonnaise, salad cream, BBQ sauce and Saucy Sauce (basically a mix of ketchup and mayo).
OpenTable
JULY 5, 2020
Every week we’re rounding up some of our favorite articles with trends and tidbits from the world of restaurants. Tell us: what made your reading list this week? Indoor Dining Will Be Postponed in New York City – Grub Street. NYC’s restaurants and bars had planned for indoor reopening on July 6, but that timeline is now delayed. Mayor Bill de Blasio announced this week that the next reopening phase will be postponed due to rising coronavirus cases across the country.
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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.
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