Restaurant And Hospitality News -- December 22, 2014
By Christine Kern, contributing writer
In news this week, The Burger King acquisition of Tim Horton’s gets green light; some tips for controlling restaurant vendor costs; a Starbucks Five-year plan, and the new 2015 Conde Nast Traveler Gold List.
Burger King Gets Green Light From Tim Horton’s Shareholders For Acquisition
The Nation’s Restaurant News reported that Tim Horton’s Inc. shareholders have approved the $11.4 billion acquisition deal by Burger King Worldwide Inc. The combined company will be the third-largest restaurant operator in the world, with 18,000 units and $23 billion in sales, and will take the name Restaurant Brands International. The new company will be headquartered in Canada, though the two brands will continue to operate separately.
Controlling Restaurant Food Costs
This article from the Nation’s Restaurant News outlines several approaches to vendor product price management for restaurant chains, including comparing actual to contracted prices; double-checking invoice prices against vendor price sheets; adopting back office solutions to automate comparisons and remediate discrepancies; and the “cross your fingers and hope for the best” approach.
Starbucks’ Five-Year Plan That Includes Mobile Ordering/Delivery, and Expansion of Premium Brand
The Nation’s Restaurant News reported that Starbucks has released its five-year plan for diversified growth, and it will mean rolling out mobile ordering and delivery services, doubling food sales in the U.S., and the expansion of a premium Starbucks Reserve brand. The five-year plan should usher in “a new era of customer convenience,” according to Starbucks CEO Troy Alstead, and revenue is projected to reach $30 billion by 2019, with 30,000 locations.
Conde Nast Traveler 2015 Gold List Revealed
Conde Nast Traveler has released a reinvented Gold List, selected by Conde Nast Traveler editors, writers, and network of influencers, according to eHotelier. Some of the U.S. locations on the list included: Rancho Valencia Resort & Spa, Rancho Santa Fe; Ritz-Carlton Half Moon Bay; Halekulani, Honolulu; Hidden Pond, Kennebunkport; Four Seasons, St. Louis; Bellagio, Las Vegas; The Carlyle (Rosewood), New York; Watch Hill Inn; Montage Deer Valley; and Four Seasons Hotel Seattle.
Restaurant and Hospitality Talking Points:
EHotelier provided this interesting piece called “Quotes for hoteliers to live by,” which includes a number of witty aphorisms that can impart wisdom for hoteliers. Some of the advice includes, “Efficiency is doing things right; effectiveness is doing the right things” (Peter Drucker); and “Luxury lies not in richness and ornateness but in the absence of vulgarity: (Coco Chanel).