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As we begin to assess the realities of the Post-COVID19 (CV) world, businesses everywhere are facing an unprecedented challenge: how to survive and maybe even thrive amid this extraordinary "new normal." Restaurants and the entire hospitality industry are at the forefront of this challenge. Even as lockdown restrictions are eased, it's likely to be a long time before the dining experience returns to anything resembling the previous norm.
Domino’s Pizza (NYSE: DPZ) went public in 2004, and it has delivered a superior return to its shareholders, better even than Google (NASDAQ: GOOGL). “It’s pretty amazing,” said Joe Weisenthal. “The basic idea is that both Domino’s Pizza and Google went public around the same time. I think it was 2004. And if you look at the chart, they basically had a pretty similar trajectory.
Restaurant marketing has become much more complicated in the past few years. Those in charge promotions and generating new business at restaurants face both tough and interesting challenges. People looking to fill their stomachs now have a dizzying array of possible options, and restaurants must compete for customer attention beyond location.
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.
No one knows what the future of foodservice looks like, but there are crucial hints in the data, analytics and e-commerce. If we have learned anything during the last few months, it is that sticking to the, “it’s how we have always done it,” mentality won’t position restaurants for recovery. Leaders across all business sectors are accomplishing changes in days or weeks that normally would have taken months or years.
Efired /Shutterstock. During quarantine, the bakers who staff the hotline are providing baking — and emotional — support On March 14, COVID-19 was declared a national emergency in the U.S., hand sanitizer profiteers made headlines, and states had yet to issue stay-at-home orders. It was also Pi Day — that is, the date 3/14, which is often cheekily observed by baking or eating pie.
As New Jersey and New York reopen outdoor dining at restaurants and progress to “Phase 2” reopenings, hospitalizations are soaring in Arizona, Texas, Florida, and Tennessee. Global daily new cases are nearing another all-time high, with new outbreaks shutting down major cities like Beijing again this week. . Just yesterday, deaths from COVID-19 increased 1.9% in Florida, likely caused by Memorial Day celebrations and beach reopenings during the past three weeks.
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Hospitality Management Today brings together the best content for hospitality management professionals from the widest variety of industry thought leaders.
As New Jersey and New York reopen outdoor dining at restaurants and progress to “Phase 2” reopenings, hospitalizations are soaring in Arizona, Texas, Florida, and Tennessee. Global daily new cases are nearing another all-time high, with new outbreaks shutting down major cities like Beijing again this week. . Just yesterday, deaths from COVID-19 increased 1.9% in Florida, likely caused by Memorial Day celebrations and beach reopenings during the past three weeks.
OpenTable’s webinar series, In it Together , tackles key topics facing the industry during the COVID-19 crisis. What does hospitality look like in a time of emergency? How can we support our communities today, both financially and emotionally? Hosted by our COO Andrea Johnston, the platform brings together restaurant leaders and experts to foster conversation and share advice during uncertain times.
As restaurants across the nation begin to reopen for business, there are many challenges that they will face for the first time. Business as usual is a thing of the past! In what already was a difficult business in which to succeed, restaurateurs will have to navigate the unchartered waters of surviving during a pandemic and its aftermath, as we slowly return to business.
As the coronavirus pandemic swells into a second wave , government officials across the nation are reiterating the need for safety precautions. Los Angeles health inspectors said that over half of the 2,000 restaurants they visited this week were not complying with COVID-19 safety rules. Fed up with noncompliance, officials are escalating their warnings into financial penalties. “We’re seeing some people getting a little too comfortable about not wearing masks,” said Miami̵
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 Covid-19 virus has severely affected the restaurant industry globally. Dine-in facilities have been shut down, and customers are taking all possible precautions to prevent the transmission of this deadly virus. Malls and restaurants in Dubai are partially reopening, but food outlets have been advised to operate with reduced occupancy of only 30 percent.
When COVID-19 erupted earlier this year, scores of restaurants relied on online delivery marketplaces to deliver meals to their customers. The role these marketplaces have played during the pandemic, delivering restaurant orders right to people’s front doors, has become invaluable to many consumers. But is it invaluable to restaurants? While restaurants may increasingly rely on online delivery marketplaces, they can hinder a restaurant’s overall profitability – commission fees
Shutterstock. Recipes should be more like templates than immovable scripture — so why don’t we treat them that way? Lately, it’s felt a bit like I am pouring my anxiety into every pan I own. From long-simmering bolognese or experiments like chickpea-flour pancakes to the familiarity of chili omelets or Punjabi cuisine, I have been cooking up a veritable storm these past few weeks.
“I have great confidence in the restaurant business. We’ve been dealing with invisible enemies since our inception. We’ve called it bacteria. Bars and restaurants deal with bacteria every day,” says Jonathan Taffer, the host of the television show Bar Rescue which premiered in 2011 and is entering its 12th season with Paramount Network. .
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.
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? One Day in June – Eater. On June 2, Eater reporters documented restaurant reopenings in 17 cities across the globe, from Paris’ open dining rooms to Bogotá’s carryout-only protocols.
As restaurants cautiously begin to reopen in pockets of the U.S. and abroad, the restaurant industry remains far from full capacity. Over the past several months we have seen customers modify their business models to accommodate restrictions and consumer preferences. While many restaurants pivoted quickly to off-premises dining only, the model is not a fit for every brand.
Meals are served to children at a Black Panther Party free breakfast. | It’s About Time. Early Black Panther Party member Billy X Jennings helped feed a movement. Fifty years later, he still sees its impact. Billy X Jennings was fresh out of high school when he joined the Black Panther Party in the summer of 1968. The Party, which was barely a year old at the time, grew out of an opposition to racism and police violence toward Black people in Oakland, California — and later, around the country —
The U.S restaurant industry has lost $120 billion of revenues from March to May this year due to the coronavirus, according to a definitive National Restaurant Association survey of 3,800 restaurant operators. Founded a century ago , the National Restaurant Association’s flagship survey is widely considered second only to government statistics.
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 restaurant industry is one of the largest sectors of the economy to have been affected by the outbreak of coronavirus. While there are several indications of a global economic slowdown, foodservice operators are already taking measures to secure their business. As restaurants are closed, and Singaporeans are encouraged to stay home, online food orders have witnessed a considerable spike.
The Department of Labor (DOL) has addressed the thorny issue of when to pay tipped employees for non-tipped activities. In its Opinion Letter, FLSA2018-27, the DOL changes its prior position and clarifies the language in 29 C.F.R. §531.56(e) regarding when an employer can take the tip credit for duties performed by tipped employees that are generally considered non-tipped activities.
Shake Shack employees were accused of intentionally poisoning NYPD officers’ milkshakes. | Photo: PL Gould /Shutterstock. The Police Benevolent Association and the Detectives’ Endowment Association both made statements claiming that officers were intentionally fed bleach at a Manhattan Shake Shack location The New York City Police Department has debunked claims made by its own police unions accusing employees at a Shake Shack in Manhattan of deliberately poisoning officers via contaminated milks
Burger King launched another viral campaign yesterday, a Whopper Challenge intended to grow its young audience on TikTok. Any TikTok user who posts a video with a specialized soundtrack plus the hashtag #WhopperDance will receive a direct message with a coupon code for a $1 Whopper sandwich. Videos with that hashtag have generated 7.4 million views on TikTok so far.
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.
A growing number of inbound tourists and increasing disposable income has led to a changing wave of trends in the restaurant industry of Singapore. The industry is so competitive that new restaurants are opening up every single day. Restaurants are trying their best to retain customers since it adds up to the overall profitability. Let’s discuss what measures can fine-dine restaurants in Singapore take for customer retention.
With restaurants reopening under guidelines calling for decreased capacities, efficienct practices are top of mind. Modern Restaurant Management (MRM) magazine asked Mark Heymann, a labor expert and CEO of UniFocus, for his insights on navigating post-pandemic restaurant recovery through effective hiring and training. What are the best practices employers can put in place to welcome back apprehensive restaurant employees?
Shutterstock. Cruise companies have been fighting contagious viruses for years, which loyal cruisers say makes eating aboard as appetizing as ever In those early days of the novel coronavirus, as we all watched its terrifying spread from its point of origin, cruise ships dominated the headlines. Reports of big numbers of cases on board were bandied first as a precautionary tale, then simply a precursory one.
Illinois Governor J.B. Pritzker’s Phase 4 reopening plan will roll out across Illinois on June 26. As of today, that will also include Chicago. Mayor Lori Lightfoot announced today that all Chicago restaurants will be allowed to serve diners indoors at 25% capacity, which is one week earlier than her previously planned date of July 1. . “Our reopening will only work if residents continue to act responsibly.
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.
The novel coronavirus pandemic has had an immense impact on the restaurant industry. In fact, U.S. restaurant losses for April 2020 were projected to surpass $50 billion, according to estimates from the National Restaurant Association (NRA). While some states are allowing restaurants to resume business, others are delaying this process until later phases in their reopening plans.
Over the past few weeks, we have met with clients, attended roundtables, observed trends and polls, and have kept our creativity flowing, to develop design solutions to help sustain our food and beverage industry partners through COVID-19 and beyond. New design solutions we’re considering include temporary enclosures around existing seating groups, devising clever touchless delivery systems inside existing and new restaurants, rethinking the curbside pickup landscape for our mixed-use proj
Restaurants across the country are starting to open their doors back up to customers who’ve been eagerly waiting for their return. As a restaurant owner or manager, you’ve probably thought through your reopening plan, from how to distance your guests appropriately to keeping your staff safe and healthy in the transition. But have you thought about the safety of your water?
When the COVID-19 pandemic started to take effect, Elisia Flores, CEO of L&L Hawaiian Barbecue and company executives embarked on a listening tour with franchisees in 15 states and Japan that resulted in more than 95 percent of the 200 locations to not only remain open, but stay profitable. Taking this personalized approach helped many quickly adapt and modify operations using problem-solving skills tailored to the unique conditions of their individual markets.
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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