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A lot of people would assume that fraud in the restaurant industry doesn’t extend beyond dine-and-dashers and bad cheques, but those with experience in the industry, especially at the level of popular franchises and chains, will tell you that fraud is more common than most people recognize. The food service industry has had a tough couple of years, and a large part of what has kept restaurants afloat has been a move to digitalization.
In the current business context, most hospitality organizations are finding themselves wanting to strike the right balance of "building back better" without jeopardizing a speedy recovery and keeping sustainable business practices at the heart of it all.
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.
The landscape of the restaurant industry has changed forever due to Covid and the operational complexities that the pandemic introduced. As brands scrambled to change their business models – whether through the adoption of touchless payments, delivery and curbside pickup, or the use of QR codes to access online menus – consumers were also forced to adapt their dining behaviors.
NFT restaurants are dining clubs for the metaverse. But also sometimes IRL. Got it? Just weeks before Christmas, with the restaurant industry reeling again from the omicron variant, chef Tom Colicchio was tweeting about penetrating the metaverse. In a series of tweets, he announced CHFTY Pizzas , a new NFT (non-fungible token) venture with Top Chef alum Spike Mendelsohn.
A jewel in the Swiss crown of fine dining, Chef Franck Giovannini heads the Hotel de Ville restaurant in Crissier, famed for its long standing 3 Michelin stars. Elegance, simplicity and respect for all produce and ingredients are the hallmarks of this world class establishment. Chef Giovannini is currently patron of EHL’s Culinary & Restaurant Management Certificate program (CREM) and shares patronage with Vitalie Taittinger of EHL’s MSc in Wine & Hospitality.
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A jewel in the Swiss crown of fine dining, Chef Franck Giovannini heads the Hotel de Ville restaurant in Crissier, famed for its long standing 3 Michelin stars. Elegance, simplicity and respect for all produce and ingredients are the hallmarks of this world class establishment. Chef Giovannini is currently patron of EHL’s Culinary & Restaurant Management Certificate program (CREM) and shares patronage with Vitalie Taittinger of EHL’s MSc in Wine & Hospitality.
When designer Monica Jeffers saw the aging, dated restaurant she was going to remodel, she thought, “A T-bar grid ceiling! How the heck am I going to deliver this beautiful, elegant restaurant with a T-bar ceiling?” Ironically, this thought sets her apart. All too often, designers pay little if any attention to the ceiling. Jeffers understood the design value of the expansive surface overhead.
Vibrantly colored, highly caffeinated, health-focused drinks have taken over social media, but for the proprietors of these beverage-slinging “nutrition clubs,” the realities can be far less bright They’re all over Instagram : multicolored beverages in layers of unnaturally bright oranges, greens, and blues, each flavor layered into a cup of ice to show off the vibrant colors.
Cruisewatch says it will use the new round to develop its AI-backed text and speech recognition tools and automation services for third-party agencies.
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.
The company announces its series of in-person and virtual events for the year, to include the 2022 Avoya Travel Conference, 2022 Avoya Travel Land Forum and many more.
“A penny saved is a penny earned.” No truer words were spoken by Benjamin Franklin and is a mantra that resonates deeply for businesses in the food service industry—many of whom are in recovery mode in the midst of the COVID-19 pandemic. With operational costs sky high and profit margins razor thin (ranging on average from three to nine percent ), restaurant operators are continually looking to keep costs down without degrading quality or service.
Whatever the rationale behnd the decision, Sabre has made a calculated move that it will have to face head-on from the industry and its partners, or change in the coming days and weeks.
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.
As the restaurant industry becomes more and more competitive, it’s becoming increasingly difficult for restaurant owners to capture people’s attention and reach more customers.
Since the late summer of 2021, many major U.S. cities have implemented requirements for patrons to show proof of COVID-19 vaccination in order to dine indoors at restaurants. At a time when over one-third of U.S adults remained unvaccinated, the launch of this unprecedented policy was met with concern by many in the restaurant industry. If visitation from these unvaccinated consumers were to be lost entirely, or even fully shifted to less profitable channels like delivery, many restaurant owners
Workers with World Central Kitchen are feeding refugees from Ukraine. | World Central Kitchen. World Central Kitchen, Bakers Against Racism, and restaurants and bars are raising funds and showing solidarity with Ukraine Within hours of Russia’s invasion of Ukraine, restaurants and relief organizations across the globe had already sprung into action.
Sabre was the first of the main GDSs to issue a statement that it has axed its distribution with the Russian goverment majority-owned airline, with Amadeus following shortly after.
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 new year is here, and so is the restaurant rush. Brimming with resolutions, your customers will now be back with renewed vigour to your establishments. The ongoing pandemic has changed existing business models, and it is imperative for restaurant owners in the US to adapt to them and streamline their restaurant operations. If you’re looking to run your restaurant operations in 2022 efficiently, we have created a comprehensive list of 5 tips to improve your restaurant operations. . 5 T
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. Restaurant menu prices continue upward as the U.S. Department of Labor reported an inflation rate of 7.5 percent on an annual basis.
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.
Since the inception of social media, food has often been a trending topic. This is fantastic news for the food business, as recipes, kitchen techniques and trivia can now be easily shared with a genuine voice. It does, however, mean that sticking out from the crowd can be difficult. When it comes to generating exposure for your food business, there are numerous social media platforms and Influencer Marketing activation options to explore.
This edition of MRM Research Roundup features The State of What Feeds Us, Dry January, top cuisines on Instagram and. QSR 2021 Performance. Revenue Management Solutions released its analysis of US quick-service restaurant (QSR) performance for 2021. Overall, traffic continued its post-pandemic decline, but the global data solutions provider believes double-digit increases in average check will remain — and demonstrate a fundamental change in consumer behavior.
A few restaurant products currently on the market. | Nat Belkov/Eater. Over the past few years, restaurants everywhere have started selling fancy pantry products, but the trend started decades ago In 1979, as America recovered from double-digit unemployment, diners craved something real and uplifting, and at K-Paul’s Louisiana Kitchen, Paul Prudhomme snagged national headlines for filling that void with big Creole and Cajun flavors.
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.
Customers in restaurants and bars have veered and stretched for a year and a half to adapt to the altering reality of going out in a pandemic. Masks on, masks off, shutdowns, curfews, social isolation, and staff shortages may all come and go in tandem with coronavirus caseloads and the economy’s health. However, these weird times have created a lot of smaller, less well-publicized events — innovations, modifications, and idiosyncrasies — that have the potential to last.
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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