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Deloitte: Travel leaders embrace automation, technology

Hotel Business

. “The rapid ascension of automation and other emerging technologies presents an opportunity to address this disruption while still helping ensure the travel experience remains front-and-center. Nearly half of leading tech adopters among airport (57%) and hotel (43%) leaders expect automation to decrease labor costs.

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Will the hospitality sector see an end to the cost of living crisis?

Hotel Owner

Since my early years, I have developed my leadership and management skills across many roles in various operations, each presenting its own set of distinctive hurdles and intricacies! Now, however, we find ourselves in the midst of another formidable hurdle – the cost of living crisis.

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Labor Cost Percentage for Restaurants: The Ins and Outs

Synergy Suite

Periodically evaluating staffing levels during different shifts and adjusting schedules based on customer demand ensures a fine balance between providing quality service and controlling costs. Evaluate staff scheduling and labor efficiency by comparing labor costs to customer traffic. Implement similar strategies where applicable.

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Prime Costs: Understanding and Application for Restaurants

Synergy Suite

Operating a thriving restaurant involves more than merely presenting delectable dishes and designing a welcoming ambiance. It requires a keen understanding of your restaurant’s finances and, in particular, the concept of prime costs.

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Inventory Turnover Ratio for Restaurants: Maximizing Inventory Efficiency

Synergy Suite

Cost Reduction One of the most direct benefits of an improved inventory turnover ratio is the reduction in holding costs. Lower inventory turnover ratio often results in higher holding costs as your capital is tied up in inventory that isn’t being sold quickly.

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The Break-Even Point: A Key to Restaurant Financial Success

Synergy Suite

Focus on reducing both fixed and variable costs: Food Cost Control: Monitor your food inventory, reduce waste, negotiate with suppliers, and consider menu engineering to highlight high-margin items. Labor Efficiency: Schedule staff efficiently, cross-train employees, and implement technology to streamline operations.

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MRM Research Roundup: Mid-December 2019 Edition

Modern Restaurant Management

For the first time, Tripleseat conducted a survey to share with leaders in hospitality the amount of hours professionals put into each event to make sure that every one of their clients' events are a success, as well as their experience in the industry, type of training received, salary earned, among others.

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