Modern Restaurant Management

OCTOBER 4, 2021

The data further signaled that price increases have had a significant impact on consumer restaurant habits. Nearly two-thirds (63 percent) of participants indicated they have ordered or visited less due to higher prices. Inflation and Pricing Concerns. · 63 percent of customers are impacted by recent price increases.

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Hotel Owner

OCTOBER 12, 2022

UKHospitality chief executive Kate Nicholls has welcomed the Government’s new Energy Prices Bill adding that it will provide “relief to all manner of hospitality businesses”. The publication of wholesale energy prices will also provide much-needed clarity for businesses.

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Pricing 104

Modern Restaurant Management

SEPTEMBER 15, 2021

Uncovering consumer confidence and preferences in an ever-shifting market as a result of COVID-19 restrictions, Restaurants Canada is shining a light on what restaurateurs and chefs can expect with the release of the 2021 Discerning Diner Report. Sales velocity is now -1 percent vs August 28, 2021. ” Supporting Local. California.

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Modern Restaurant Management

NOVEMBER 30, 2020

Perhaps the biggest question on restaurateurs’ minds right now is: “Do I plan for the 2021 I was expecting, or can I just go back to 2019?” My colleagues and I at EPAM Continuum have been thinking of 2021 and the trends that will soon be served to us. ” I hope 2021 is not about “How do you want the food?”

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SiteMinder

MAY 28, 2023

While prices for all German accommodation providers rose by seven per cent between 2019 to 2022, prices among those with 20 rooms or less grew 22 per cent in the same period. “However, generally, we have seen that smaller properties are leading the hotel industry in raising their pricing to reflect macroeconomic shifts.”

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Revenue Hub

FEBRUARY 9, 2023

After air travel was significantly reduced in 2020 and 2021, demand for air travel roared in 2022 as borders opened and travelers gained confidence. The price must be right When it comes to booking air travel, it’s all about price, with atypical, low pricing being the top thing consumers value.

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Pricing Budgeting Book Article 89

Modern Restaurant Management

JUNE 3, 2021

CGA’s consumer research has signs that sizeable numbers will be looking to the On Premise to mark events like these in 2021. “After months of restrictions, many consumers are ready to celebrate US public holidays and events in a big way in 2021,” said Alexandra Martin, Operator and Analytics Director at CGA.

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STAAH

APRIL 11, 2023

The integration brings two of the hospitality industry’s key service providers closer together and has simplified access to vital pricing intelligence, for joint customers. OTA Insight’s team of international experts supports more than 60,000 properties in 185 countries.

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EATER

DECEMBER 8, 2020

In the 2021 guide there are two new restaurants with three stars, two with two stars, and 18 restaurants earning their first Michelin stars. As always, the guide also covers more reasonably priced Bib Gourmand restaurants. These Are The Newly Starred Restaurants In The MICHELIN Guide Tokyo 2021 [Michelin]. Onarimon Haru.

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Pricing 104

Hospitality Net

MAY 2, 2023

Marriott International plans by May 15 to disclose resort fees in the total prices it displays in its initial search results on its website and mobile app. It’s the long-awaited outcome of a 2021 settlement with Pennsylvania — that required the Bethesda, Maryland-based hotel operator to include in fees in upfront total prices.

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Pricing 72

Modern Restaurant Management

JANUARY 31, 2022

In December 2021, average check was up 22 percent compared to the same period in 2019 and sales were up eight percent, according to Revenue Management Solutions, which released sales, traffic and average check trends for QSR restaurants in December 2021. Bureau of Labor Statistics, prices at limited-service restaurants increased by 7.10

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Pricing 189

Modern Restaurant Management

OCTOBER 24, 2022

year over year, with reviews mentioning inflation up by 22 percent compared to Q3 2021. Yelp found that food businesses are seeing one of the largest increases of inflationary experiences compared to Q3 2021, followed by restaurants. In response, consumer searches for budget-friendly dining and grocery options are higher than Q3 2021.

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Budgeting Pricing Magazine Marketing 182

EATER

FEBRUARY 2, 2021

Switzerland’s list of three-star restaurants, Michelin’s highest rating, remains steady in 2021 with Cheval Blanc by Peter Knogl in Basel, Le Restaurant de l’Hôtel de Ville in Crissier, and Schloss Schauenstein in Fürstenau all retaining their status. The MICHELIN Guide Switzerland 2021 reveals its selection [Michelin].

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Pricing 80

PhocusWire

MARCH 30, 2023

Highlights of the year for HomeToGo included the acquisition of AMIVAC in January and E-Domizil in March and acquiring the remaining 81% stake in Secra in June following its initial acquisition of 19% in 2021.

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Pricing 76

Modern Restaurant Management

JANUARY 26, 2022

Consumers described more inflationary experiences within their reviews on Yelp in 2021 than ever before, according to fourth quarter 2021 data for the Yelp Economic Average (YEA) report, a benchmark of local economic strength in the U.S. In 2021, business openings increased by eight percent to 559,715 up from 517,231 in 2020.

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Modern Restaurant Management

JULY 6, 2022

While 2021 was the year of the comeback for restaurants, 2022 is proving to be a very different story. Restaurant traffic, while recovering and up nine percent in 2021 compared to 2020, is still 4 percent below pre-pandemic levels, with smaller chains and independent restaurants down by nine percent, according to a study by The NPD Group.

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Pricing Marketing 197

Modern Restaurant Management

MAY 9, 2022

Our data shows QSRs have struggled to regain traffic since the second half of 2021. percent compared to March 2021. Even breakfast, which was trending upward throughout 2021, has started to decline, with YOY traffic down -0.4 In Q4 2021, 23 percent said they planned on ordering more. Pricing strategies.

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Boutique Hotel News

FEBRUARY 21, 2023

UK: Global travel technology company OYO has added 40 UK hotels to its platform and doubled its revenue in 2022 compared to 2021. The new OYO properties are located in Otterburn, Folkestone, Worcester, Swansea, Crewe, Kidderminster, Solihull, Peterhead and Boston.

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Modern Restaurant Management

SEPTEMBER 13, 2022

However, in June, the category started a downward trend, similar to declines in lunch and dinner that started as far back as Q3 2021. percent) from August 2021, compared to declines in traffic at lunch (-5.5 The average QSR price is at its highest since 2020 (+16.3 percent) and dinner (-3.9 percent), but basket size is down -5.3

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Hospitality Magazine

JULY 12, 2023

The pub, which had an asking price of $7.5 million, was sold in September 2021, with Peninsula Hospitality committing to renovate the two-storey venue and roll out a new food and beverage offering. Historic Sydney pub The Dry Dock will reopen late this year under new owners Peninsula Hospitality, run by Mike Everett and James Ingram.

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Pricing Magazine 246

7 Shifts

SEPTEMBER 7, 2021

Has the price of going to a restaurant increased? To answer this question, we compared 2019 vs 2021 restaurant receipts. We found a 14% increase in the total price on a receipt. Either diners have switched to ordering the more expensive items off the menu, or we're seeing very strong inflation of prices on menus.

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Hospitality Net

MAY 1, 2023

However, the Russian invasion of Ukraine in February 2022, which fueled huge increases in energy and food prices, overall inflation and therefore interest rates, resulted in a mixed picture for hotel transactions for the year. billion, total volume in 2022 fell short of 2021 by 18%, with 37 fewer transactions.

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Pricing Marketing 93

Modern Restaurant Management

AUGUST 22, 2022

Consumers continue to be hit hard by inflation as we see prices skyrocket for a variety of goods. These high prices are certainly taking a toll on consumer spending, which will eventually change their restaurant dining habits. percent compared to the same period in 2021, but simultaneously showing that the dine-in channel saw a 2.4-percent

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Modern Restaurant Management

JULY 21, 2022

percent compared to Q2 2021, according to the Revenue Management Solutions (RMS) Q2 Industry Trends Report. Come June, the Labor Department's Consumer Price Index saw that annual rate climb even further to 9.1 Consumers see a drop in gas prices , bringing them back to drive-thrus. QSR net sales for the quarter are up 1.4

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Modern Restaurant Management

NOVEMBER 21, 2022

percent compared to the same period in 2021. Additionally, menu prices at casual dining establishments rose by an average of 9 percent year over year from 2021. The decreased patronage along with inflation increases running costs, which means increased menu prices.

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Pricing Catering Information 197

Modern Restaurant Management

DECEMBER 20, 2022

Increasing menu pricing has helped to offset costs and so far, has continued to attract customers since grocery prices are outpacing the increases in restaurant tickets for dining out." The second is pricing. Menu prices have consistently risen since 2021. In June 2022, average price increase spiked from 10.7

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Pricing Scheduling Marketing Communication 197

PhocusWire

FEBRUARY 18, 2022

Data from Transparent and Amadeus shows hotels have tried tried to boost occupancy with lower rates in 2020 and the majority of 2021 compared with 2019.

Pricing 52

Pricing 52

7 Shifts

JANUARY 7, 2021

With a new year comes new challenges, and after the year for the industry that was 2020, we want to help set your restaurant up for success in 2021. Complete a competitor analysis This will not only inform decisions such as pricing and menu ideas—but it can serve as inspiration too. Share images your customers have taken to your Story.

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Marketing Blog Pricing Information 78

Modern Restaurant Management

SEPTEMBER 14, 2021

Across the country, prices for food are reaching all-time highs as inflation picks up and COVID-19 restrictions loosen, driving more consumers to resume dining, shopping and traveling. percent in July 2021, its largest monthly increase since February 1981, according to data from the U.S. Overall, year-over-year consumer prices rose 5.4

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Modern Restaurant Management

FEBRUARY 3, 2022

Seventy-four percent of full service restaurants (FSRs) managed to maintain or increase their sales during the pandemic; however, profit margins in 2021 declined to 10 percent, compared to 12 percent in 2019, according to third annual State of Full Service Restaurants Report released by TouchBistro.

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Modern Restaurant Management

MAY 22, 2023

It’s no surprise that inflation is taking a toll on the restaurant industry and Americans are noticing the price increases. ” Provoke Insights has been partnering with Modern Restaurant since October 2021. As a result, people are dining out less frequently. Full-service dining has seen the largest decrease in patronage.

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Budgeting Customer Service Pricing Magazine 180

Hospitality Magazine

MAY 31, 2023

Kojima launched the first Senpai store ‘Simulation’ in Darling Square in 2021, going on to open Senpai Ramen locations in Chatswood and Burwood. Diners are now able to order from a menu that covers sushi, nori burgers priced under $20, ramen, and share plates.

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Pricing Magazine 130

Boutique Hotel News

JANUARY 4, 2023

The startup, valued most recently at $9 billion, submitted fresh financial documents in September, 12 months after the company first filed to go public in 2021 with a Draft Red Herring Prospectus [DRHP] for a $1.1 billion IPO. Last year, OYO received regulatory approval to submit additional documents in order to go public.

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Document Pricing Marketing 239

Modern Restaurant Management

AUGUST 31, 2021

The report illustrates the continued impact of the COVID-19 pandemic on the restaurant industry and provides an updated look at key indicators and trends influencing the industry's recovery as of June/July 2021, including the current state of the economy, workforce, and food and beverage sales. million jobs in the first half of 2021.

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Modern Restaurant Management

OCTOBER 20, 2021

Nearly three-fourths of respondents reported using the channel at least 1x weekly, a slight decline from May 2021. Takeout and delivery also have remained constant since May 2021 — 66 percent used takeout at least one time weekly, and 52 percent used delivery. Why Takeout Still Reigns (And How Operators Should Price).

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Pricing 215

PhocusWire

NOVEMBER 25, 2021

RoomPriceGenie will show how independent hotels can use data-driven and intelligent pricing to compete with the revenue experts of this world.

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Pricing 52

Modern Restaurant Management

SEPTEMBER 11, 2023

But does pricing play a role? Whether from the East, West, or in between, respondents were birds of a feather when it came to price – most would tolerate price increases of up to 20 percent from the top two favorites before even considering switching brands. Both – with a smattering of price.

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Pricing Marketing 117