Hospitality businesses in Australia are now catching up from the impact of lockdown and uncertainty during the pandemic. While some recovery has brought improved revenues, significant industry-wide labour and supply shortages have hampered operations and guest sentiment.
Metrics matter. Understanding which ones you need to care about can have a big effect on your bottom line. It’s up to operational leadership to measure them, monitor them, and make them not only the focus of their annual initiatives – but to make those metrics important for restaurant managers too.
Technology alone can’t affect the causes of cost price inflation. Hospitality systems can’t undo labour legislation, failed harvests or political turmoil, and with hotels in urban markets still seeing revenues dip as much as 52 percent compared to 2019, operators need to utilise every possible method to cut costs.
Since the pandemic started every industry has faced its fair share of extraordinary issues, from Covid-induced closures to ongoing supply chain disruptions, just to name a few.
The quick service restaurant (QSR) industry has been one of the hardest hit by the pandemic’s crippling challenges. The stay-at-home orders and social distancing restrictions have changed the industry as we know it.
The exponential growth of so-called Big Data is unprecedented and is matched by its enormous potential to change the way we all live, work and think.