No-Shows Crimp Fine Dining Restaurant Profits
Update: 2024-05-02
Description
No-shows remain in the 20% range in the fine-dining industry, Head of Tock Matt Tucker tells Bloomberg Intelligence, despite demand that far outstrips supply, hurting unit profitability. In this episode of the Choppin’ It Up podcast, Tucker sits down with BI’s senior restaurant and foodservice analyst Michael Halen to discuss how the prepayment of reservations can help fine-dining establishments maximize revenue. He also comments on the shift to earlier dinner reservations, the state of the M&A market for restaurant-tech companies and unique ways restaurants are implementing dynamic pricing.
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