What you need to know about restaurant accounting
Restaurant accounting is a uniquely complex process. Financial transactions pass through a variety of employees, including hosts, servers and bartenders. With all these inputs, a comprehensive accounting process is a must for restaurant owners — it helps you maintain accuracy, stay legally compliant and maximize profits. Importance of efficient restaurant accounting Restaurant accounting is the process of recording, monitoring and analyzing a food-service company’s financial transactions. A solid accounting system tracks the restaurant’s finances, providing a clear picture of the health of the business. Efficiency is critical, especially in the restaurant industry — restaurants often operate on tight profit margins,…
What you need to know about tip pooling
Tips are an integral part of the restaurant industry. They motivate employees to provide exceptional service, creating an experience that brings customers back time and again. For employers in many states, tips can also make up the difference between the server minimum wage and the federal minimum wage. If you’re looking for ways to distribute tips more fairly among employees, tip pooling is one option. What are the tips for pooling? Tip pooling is a practice where restaurant employees put all or part of their tips into a communal pool. The employer divides the total funds among eligible workers, either…
Your guide to great food critic reviews
Restaurateurs understand the weight of food critic reviews. A negative review could threaten to shut a restaurant’s doors, while a positive review can make a restaurant fill up reservations for weeks. In an industry where the approval of your work can make or break your business, it can be nerve racking to interact with food critics. To increase your chances of a positive rating, make sure your restaurant is prepared for a critic’s visit. The role of a food critic A food critic’s job is to visit restaurants, try the food, and write about the experience. Depending on the publication,…
InterContinental Hotels Group (LON:IHG) Lowered to Sell at Redburn Partners
Redburn Partners lowered shares of InterContinental Hotels Group (LON:IHG – Get Rating) to sell a rating in a research note issued to investors on Tuesday morning, reports Marketbeat Ratings. Several other equity analysts have also recently issued reports on the company. Jefferies Financial Group lifted their price target on InterContinental Hotels Group from GBX 5,500 ($67.54) to GBX 6,200 ($76.14) and gave the company a buy rating in a research report on Wednesday, January 25th. JPMorgan Chase & Co. reduced their price objective on InterContinental Hotels Group from GBX 6,200 ($76.14) to GBX 6,000 ($73.68) and set a neutral rating…
How To Make a Restaurant Schedule
Restaurant scheduling is both an art and a science — it must simultaneously serve the business, satisfy customer demand, and account for employees’ needs. Given the complex factors involved, it’s safe to expect a certain amount of trial and error. Stick with it and you can create a workable restaurant schedule that keeps operations running smoothly and efficiently. Why is restaurant scheduling important? Restaurant scheduling creates the framework for your operations. A predictable schedule makes it easier to assign duties, plan deliveries and ensure busy shifts are adequately staffed. It also helps you spread out the workload, ensuring every employee…
S$0.13 (vs S$0.042 loss in FY 2021)
Hotel Properties (SGX:H15) Full Year 2022 Results Key Financial Results Revenue: S$525.5m (up 53% from FY 2021). Net income: S$76.4m (up from S$21.7m loss in FY 2021). Profit margin: 14% (up from net loss in FY 2021). EPS: S$0.13 (up from S$0.042 loss in FY 2021). earnings-and-revenue-growth All figures shown in the chart above are for the trailing 12 month (TTM) period Hotel Properties Earnings Insights Looking ahead, revenue is forecast to grow 10% pa on average over the next 2 years, compared to a 12% growth forecast for the Hospitality industry in Singapore. Performance of the Singaporean Hospitality industry.…
Restaurant Technology Trends for 2022
The growing demand for off-premise dining has made it even more attractive for restaurants to expand operations. Investing in the latest restaurant technology and digital innovations can help with everything from streamlining order taking to managing multi-channel marketing. Your ability to incorporate technology into your restaurant can have a huge impact on customer experience. The modern diner is tech savvy, and expects their favorite places to grab a bite to be up to date with the latest tech trends. The online food delivery industry currently generates more than $26.5 billion a year. By 2024, that number is projected to surpass…