Revenue Management

🍴 In the Stephens Annual Investment Conference in November, One Restaurant Group CEO Emanual "Manny" Hilario observed Thursdays to Saturdays becoming "dead days" for dining, with a shift to earlier in the week. San Francisco restaurants noted similar trends. During BJ’s Restaurants Q3 earnings call in late October, a rise in weekday traffic was reported. Placer.ai data showed an 11.3% increase in foot traffic at Dave & Buster’s on Thursdays in Q3 compared to the previous year. Promotions like BJ’s Pizookie Meal Deal and Dave & Buster’s Wednesday discounts are being used to boost midweek visits. OpenTable data revealed an 11% increase in Wednesday dining year-over-year, with 43% of Americans planning to dine out then. Toast's Restaurant Trends Report indicated an uptick in Monday to Wednesday reservations, with Monday (+11%), Tuesday (+11%), and Wednesday (+8%) in Q3 2024 compared to Q3 2023. However, Saturday remains the busiest day at 27%. Placer.ai also found a shift towards non-traditional dining days since 2019, with Monday visits growing from 10.2% to 10.7% in 2024, Friday visits declining from 17.6% to 17.1%, and Wednesday visits increasing from 11.1% to 11.4%. Furthermore, OpenTable data showed a 10% increase in solo

🍝 Char siu, Cantonese barbecued pork, is gaining popularity in US restaurants due to increased interest in Asian flavors. Chefs are incorporating char siu in various dishes, elevating it with premium meats and modern styles. It appeals to those seeking globally inspired comfort foods, with 14% of American consumers having tried it. Its presence on menus has expanded by 29% in the last four years, with a projected growth of 30% in the next four. Notably featured in restaurants in Las Vegas and Honolulu.

📈 The Consumer Price Index rose 0.3% in November, now 2.7% higher than November 2023. Menu prices increased by 3.6% compared to last year, with limited-service meals up 3.7% and full-service meals at 3.6%. Grocery/supermarket inflation grew 1.6% year-over-year, marking the 20th consecutive month it lagged behind restaurant price increases. Egg prices surged over 40% month-over-month due to avian flu. Overall food prices jumped 9.9% since 2022, the fastest annual increase since 1979.

🍴 Bret Thorn, Senior Food & Beverage Editor at Nation’s Restaurant News since 1999, also joined Restaurant Hospitality in 2016. He wrote The New York Sun's Kitchen Dish column from 2005-2008 and was based in Thailand writing for Manager magazine and Asia Times from 1992-1997. Thorn graduated magna cum laude from Tufts University in 1990 and studied at Le Cordon Bleu in 1986. Won the 2006 Jesse H. Neal National Business Journalism Award, inducted into Disciples d’Escoffier in 2014, and authored entries in the Oxford Encyclopedia (2012) and Oxford Companion (2015). He's based in Brooklyn, NY.

🎄 NIJU, a Japanese "home-cooking" restaurant in Mayfair, offers Christmas and New Year’s Eve menus with a Japanese twist. Throughout December, guests get free Japanese fried chicken (karaage) with two glasses of Champagne. The New Year's Eve menu features dishes like A4 Wagyu beef tartare and has two seatings at 5.30pm (£175pp) and 8pm (£225pp). The Christmas menu, available in the private dining room throughout December, costs £200 per person. Offers include live entertainment, DJs, and optional drinks pairings.

🍽 In April 2024, Restaurant Hospitality and Restaurant Business introduced "Menu Talk," a podcast featuring editors Bret Thorn and Pat Cobe. Over 40 chef interviews have been recorded in 2024, with guests ranging from Portillo’s to chef Michael Mina. The "Extra Serving" podcast by Nation’s Restaurant News also continued monthly. Thirteen top chef conversations from 2024 are highlighted, with more to come in 2025. Listeners are encouraged to subscribe to both podcasts.