Market Trends

🍷 Orange wine, also known as amber wine or ramato, is a white wine that gains a unique taste similar to a dry red wine from extended skin contact during production. It pairs well with various dishes and reflects ancient winemaking practices. As per Datassential, orange wine appears on 1.1% of U.S. restaurant menus, marking a 32% increase in the last four years.

📈 PAR Punchh released its "PAR Punchh Loyalty Trends Report," revealing innovative loyalty program strategies in the restaurant industry. Key findings: loyalty programs drove a 12% increase in loyalty sales from 2022 to 2023, a 5% overall rise in consumer spending, morning sales growth due to office returns, and a 25% loyalty sign-up rate among Gen Z. In-store ordering accounted for nearly 40% of transactions, underscoring the value of omnichannel presence and POS systems. CEO Savneet Singh emphasized the importance of understanding loyalty behaviors for market success. The report is based on data from Punchh's platform, used by over 30% of top 100 restaurant brands.

🏢 In Q2 2024, the U.S. hotel construction pipeline hit a record with 6,095 projects and 713,151 rooms, a 9% and 8% YOY increase respectively. Under construction are 1,171 projects/147,611 rooms, up by 10% and 4% YOY. Projects to start in the next 12 months stand at 2,350, a 5% YOY increase. Early planning stages see 2,574 projects/297,162 rooms, up 13% and 15% YOY. Extended-stay projects comprise 36% under construction. The upper midscale (2,262 projects/219,547 rooms) and upscale (1,417 projects/175,343 rooms) scales dominate, accounting for 60% of total projects. In 2024's first half, 250 hotels with 29,777 rooms opened, with expectations for 650 hotels/74,228 rooms by year-end, a 35% increase from 2023's 480 hotels/60,922 rooms. Forecast for 2025 is 779 hotels/87,405 rooms, and for 2026, 928 projects/101,796 rooms, a 1.8% supply increase.

🍠 Summer squash, including zucchini, pattypan, and chayote, has grown in restaurant menu appearances by 38% over the past four years, now found on 1.4% of U.S. menus. 81% of U.S. consumers recognize summer squash, which stands out for its versatility in various dishes without adding excess moisture, according to Datassential market research.