Cookies on HFTP Bytes

This site uses cookies to store information on your computer. Some are essential to make our site work; others help us give you the best possible user experience.
By using the site, you consent to the placement of these cookies. However, you can change your cookie settings at any time. Read our Privacy Notice to learn more.

I understand
  • HFTP Research Report: Pre-opening Expenditures in Hospitality

    A study of the pre-opening budget; the timeline for these expenditures; timeline for onboarding of staff; and the selection, installation and training of the technology component. By Agnes DeFranco, Ed.

  • New Global Directors Join the 2018-2019 HFTP Board

    The HFTP 2018-2019 Global Board of Directors was installed during the association's 2018 Annual Convention and introduces new directors Toni Bau, Carson Booth, CHTP and Mark Fancourt. These extensive director profiles give insight into the distinguished professions and personal goals of HFTP's newest association leaders.

  • Internal Controls and the Important Roles They Play in Eradicating Fraud

    Although I have been preoccupied with getting in the education sessions purely related to hospitality finance, technologies and hotel pre-opening, I made sure to participate in Fun with Fraud and Enchanting Employee Embezzlement in Clubs and Hotels presented by Jerry Trieber, CPA, CHAE, CFE, CFF, CGMA, HFTP Global past president and director of audit services/support at HEI Hotels and Resorts.

  • Members Only: 2018 HFTP Compensation and Benefits Report

    By Tanya Venegas, MBA, MHM, CHIA. Results to the biannual survey conducted by Hospitality Financial and Technology Professionals (HFTP). Information includes data on compensation and benefits trends for finance and technology professionals in the club and lodging industries.

How Bars, Pubs and Restaurants Must Adapt to Stay on Trend

Modern Restaurant Management·18 April 2019
According to several studies, more people are electing to stay in rather than going out. For example, where there were 60,800 pubs across the UK in the year 2000, by 2017, this number had dropped to 48,350. With super-cheap alcohol available in shops, to the younger generation preferring teetotal, pubs and restaurants are struggling to entice people to leave their homes for a night out. So, what are these businesses doing in order to stay relevant and innovative enough to encourage customers?

The Future of Restaurant Advertising Is Machine Learning

Modern Restaurant Management·17 April 2019
“Artificial intelligence” (AI) is probably one of the biggest consumer buzzwords of the last five years and it’s picked up extraordinary momentum as products like Amazon Echo and self-driving cars have hit the marketplace. But AI is far from new. The term was first coined in the 1950s and Fortune 500 companies have been harnessing its power, particularly for marketing and advertising, for over a decade.

Augmented Reality Set To Snare Restaurant Goers Before They Enter the Door

Modern Restaurant Management·16 April 2019
Millennials are willing to pay for premium dining experiences and want to share it with our friends on social media, in shared albums and other digital networks. Are we voyeurs? Sorry, maybe that’s off topic. But the reality is -- despite the narrative -- that us millennials love information -- not only about our peers but experiences we seek out.

Designing 'Place' to Build a Culture of Upselling

Modern Restaurant Management·16 April 2019
Mastering the art of the upsell is vital for maximizing the profitability of your restaurant. The truth is, however, that upselling is often far from your average employee’s mind as they’re busy serving guests. Providing great customer service simply requires juggling so many different things at once - remembering to offer an appetizer or dessert, or to remind guests of a new promotion, can often go out the window.

Stand Out from the Competition with Three Trendy Restaurant Marketing Strategies

Modern Restaurant Management·15 April 2019
In 2019, almost every suburb of America has a bustling hub of international restaurants, ready to whisk your taste buds around the world. To really succeed amongst this competition, follow these 3 hot restaurant marketing strategiesto stand out from the crowd.

Recent Activity on the Franchise 'No-Poach' Agreement Front

Modern Restaurant Management·15 April 2019
Litigation over the enforcement of “no poach” agreements continues to evolve. “No-poach” agreements have been used to promote brand consistency, efficiency and minimize employee turnover, and many franchise agreements of fast-food purveyors include such restrictions.

Uber Vouchers, Gather at OpenTable and Facial Recognition Delivery

Modern Restaurant Management·12 April 2019
Stop Food Waste DayCompass Group,, together with some of the most influential companies and celebrity chefs, is rallying millions of consumers to accelerate the fight against food waste with Stop Food Waste Day™. The White House has further elevated this effort, by acknowledging the month of April as Winning on Reducing Food Waste Month, supported by a historic interagency agreement between Food and Drug Administration (FDA), Environmental Protection Agency (EPA) and United States Department of Agriculture (USDA).

Tips and Tricks for Protecting Your Recipes

Modern Restaurant Management·12 April 2019
A hot new restaurant launches, and everyone is raving about that one special dish. Maybe it’s a new technique for crafting the creamiest macaroni and cheese or the fluffiest pizza dough. Perhaps it’s even grandma’s gooey chocolate-chip-cookie recipe. The restaurant rides the wave of success for a few months, and then disaster falls.

MRM Food Hall Focus: Are Food Halls Right for Your Restaurant Business?

Modern Restaurant Management·12 April 2019
Food halls are becoming more popular and you may be wondering if they might be a good option for your restaurant business.Food halls, like food courts, bring together a variety of different food vendors. Where they differ though is in quality.

Restaurant Profitability and Failure Rates: What You Need to Know

Modern Restaurant Management·11 April 2019
Success in the restaurant industry isn’t easy.The statistics aren’t pretty: 60 perrcent of restaurants don’t make it past their first year and 80 percent go out of business within five years. Despite the hurdles, many restaurant owners and operators believe that as long as they’re making money, they’re doing “good enough.” The failure in this approach is that it doesn’t account for a universal truth—costs increase.

MRM by Design: The Adult Playground at Circo Dallas

Modern Restaurant Management·11 April 2019
A restaurant with beachfront is an attraction in itself, but one that also features hanging monkey fixtures, a 15-foot wide chandelier and a homemade pasta station is the epitome of destination dining.Circo Dallas, the new spinoff of New York’s legendary Le Cirque, can be described as a treasure chest homage to the famed eatery that reigned for 40+ years as Manhattan’s premier restaurant to the stars.

What's App-ening: The Era of Restaurant Apps

Modern Restaurant Management·11 April 2019
We live in a digital world, and technology continues to be a growing trend in all industries. The restaurant industry is no different. Everything from third-party delivery, apps, online ordering, digital signage, artificial intelligence and automation technology.

Could Restaurants be Losing Out if they Aren't Dog Friendly?

Modern Restaurant Management·10 April 2019
Across the UK, the appearance of dogs in bars, cafes and restaurants is increasing significantly in the recent years, to the point that establishments have begun to host dog birthday parties in their bars. There is also dedicated cafes for dogs and cats, despite the stubborn traditionalists who are against it.Together, with The Kingslodge, a dog friendly pub in Durham, we explore how the impact that our canine friends have on the UK’s hospitality sector.

Three Misconceptions Restaurant Franchisors Have About Selecting PR Agencies

Modern Restaurant Management·10 April 2019
The franchised restaurant industry is huge, and an important sector within the even more enormous restaurant industry, with fast-food on top as the leader in unit count across the country. With so much competition in the franchise space, it can be difficult for a restaurant business of any size to find its way into media, in a way that is positive and not accidental. It is for this reason restaurant businesses of any size should consider creating a business relationship with an outside public relations (PR) agency. What does this mean?

The Secret of Restaurant Menus that No One is Talking About

Modern Restaurant Management· 9 April 2019
In Chicago, everyone knows what a “Chicago-style” hot dog is: a hot dog topped with onions, relish, a pickle, tomato, sport peppers, celery salt, and mustard. Now, let’s say your restaurant sells hot dogs and uses a third-party delivery service, and an order comes in for a Chicago-style dog with ketchup and no pickle.

Use Email to Pack Special Events With Your Best Customers

Modern Restaurant Management· 8 April 2019
The key to marketing special events in restaurants is putting the right message in front of the right customers. You want people who love your brand to know you’ve created something perfect for them. If you do it right, you can build a strong community and, ultimately, build your business.I’ve found the best way to do it is with quality over quantity.

Eight Signs of Undermanagement to Watch for in Your Restaurant

Modern Restaurant Management· 5 April 2019
Does your restaurant suffer from customer service issues? Conflict between employees? Performance problems? Low morale? If so, it’s possible (and even likely) that these problems can be traced back to undermanagement.

Five Mistakes Restaurant Owners Should Never Make

Modern Restaurant Management· 4 April 2019
There are so many different things that can go wrong in a restaurant business.It could be the littlest thing that causes the downfall of an entire business. It happens to so many restaurants.

How to Fund Startup F&B Businesses: SBA Community Advantage Loans

Modern Restaurant Management· 4 April 2019
Do you need funding to open your dream restaurant? Maybe you have a great idea for “the next big thing” in coffee or craft beer? While successfully launching a new venture takes a lot of money for equipment, staffing and supplies, this funding has long been hard to come by due to the “high risk” nature of startup businesses in the food and beverage (F&B) industries.

Lessons Learned: Six Leadership Skills that Increase Employee Retention

Modern Restaurant Management· 3 April 2019
There’s an old saying … people don’t quit jobs, they quit their boss. Managers have a big impact on turnover and retention: the number one reason employees quit their jobs is because of a poor manager performance.

How Data-Driven Is Your Supply Chain?

Modern Restaurant Management· 3 April 2019
Food safety. Consumer transparency. Real time visibility. These words are often discussed in the restaurant industry but there remains much work to be done to align the foodservice supply chain with the demands of today’s guest. Educated and motivated consumers want to spend their hard-earned dollar at restaurants that they can trust.

ADA Compliance for Your Restaurant's Website and Mobile Apps: What You Need to Know

Modern Restaurant Management· 2 April 2019
What does the ADA say about websites?The ADA does not specifically mention that websites or mobile applications need to be accessible. The interpretation of the ADA to require website compatibility has stemmed from section 36.303 of the ADA Title III regulations, which covers Auxiliary Aids.

Six Ways to Reduce Food Waste in the Restaurant Supply Chain

Modern Restaurant Management· 2 April 2019
Around one third of all the food harvested and produced across the globe goes to waste. That’s a pretty sobering statistic, especially with so many people going hungry around the world. But new technological innovations are helping companies curb food waste so that they can increase their bottom line and put food to good use before it ends up in the local landfill. From smart thermostats to supply chain analytics, new startups and venture capitalists are focusing on one of the world’s biggest problems.

MRM Research Roundup: April-Fool's-Day 2019 Edition

Modern Restaurant Management· 1 April 2019
This edition of Modern Restaurant Management (MRM) magazine's Research Roundup features some "very interesting" trends the experts at Kimpton Hotels & Restaurants revealed on April 1, top emerging brands, biophilic design trends, bad hygiene, restroom cleanliness and LGBTQ workplace equality.

What You Can Learn from Three Weird, but Successful Restaurant Marketing Ideas

Modern Restaurant Management· 1 April 2019
Quite often the large corporate restaurant chains play it safe and stick to the straight and narrow. Every now and then though, a brainstorm will turn into a tornado and everything goes a little crazy. We take a tongue-in-cheek look at three weird restaurant marketing ideas that actually worked. Of course if you’re brave enough, you can try them, too.

How to Grow your Restaurant Business with Data

Modern Restaurant Management· 1 April 2019
It’s a simple fact: Consumers have no shortage of options when it comes to choosing a restaurant. For those of us growing our brand, we are tasked with cutting through a crowded marketplace to keep guests coming back.

Newletter

Thank you for subscribing. Your email address has been added to our mailing list.
Close
To subscribe to the Finance Bytes Newsletter please enter your contact details below.
An error occured, please check your input and try again.
I do want to receive the Finance Bytes email newsletter.
By submitting this form, you have read and agreed to the Privacy Notice of HFTP.
You may unsubscribe to these emails at any time.
CancelSubscribe