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anonymous

Blasting the 'gastro ceiling' with financial literacy - 0 views

  • former World Bank executive
  • trustee of the James Beard Foundation and co-founded the JBF Women’s Leadership and the Women’s Entrepreneurship Leadership programs
  • The culinary “gastro ceiling” is especially appalling with less than 7% leading women executive chefs
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  • scholarships and more education will not make a dent in parity. It’s not a lack of entrepreneurial spirit either — according to the National Restaurant Association, 40% of restaurants are women-owned businesses, or WOB, and startups by women are growing much faster than the industry overall.
  • grim reality that 96% of WOB do not cross $1 million in revenue. Fewer than 8% seek external financing,
    • anonymous
       
      Despite leading the way in education and opportunities, women are not accessing enough financial backing to support larger businesses
  • less than 4% of Small Business Administration loan dollars, and less than 2% of venture capital dollars.
  • o raise external financing and be successful entrepreneurs, however, women have to vanquish three areas.
  • women increasingly develop discomfort with math
  • by women learning to pitch themselves
    • anonymous
       
      Step One: Build confidence by learning how to pitch, not apologizing, not phrasing comments as questions, and not letting others take credit for their work.
  • investing in public speaking and negotiations coaching.
    • anonymous
       
      One way to accomplish this
  • 67% of executive women are in support roles (HR, Marketing, IT, et al) as opposed to running their own line businesses
  • ulinary world, women abound in the softer side (pastry, baking, freelance, cold stations, personal chefs
  • own best advocate
  • Policy should also incentivize commercial lenders and venture capital/private equity to do the same with their loan dollars
  • bottom-up solution of livable minimum wages and parental-leave benefits
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    Despite women leading the way in scholarship and culinary education, they are suspiciously vacant at the top of the leadership ladder. According to Bloomberg, only about 7% of executive chefs are woman, and "67% of executive women are in support roles...as opposed to running their own line of business." This doesn't appear to be because of a lack of entrepreneurial spirt, as "405 of restaurants are women-owned businesses or WOB, and startups by women are growing much faster than the industry overall." This made me reflect on my own city, as I do see women in executive positions, such as Stephanie Izard, Sarah Grunenberg, and Mindy Segal, they all got to their positions in very different ways. Probably the most successful, with currently 7-8 restaurants, is Izard, she got her start by winning a reality tv show and then joining forces with two male business owners (BOKA). Grunenberg also started visa vi the reality TV route, and now eventually owns and runs a very successful restaurant downtown. Mindy Segal is the only woman executive in this group that has built her business, her cookbooks, her brand, and now her cannibis retail, mostly by herself. It is interesting to relate these women to this article because while they are all three incredibly successful, only one was able to pull herself there through the three points mentioned in this article. In order for women to break the glass ceiling in restaurants and culinary, they will need to accomplish three main goals: 1. Gain confidence, 2. Increase their aspirations, and 3. Learn and Maintain Financial literacy. The "grim reality (is) that 96% of WOB do not cross the $1 million in revenue...(and) fewer than 8% seek external financing. Women "receive less than 4% of Small Business Administration loan dollars and less than 2% of venture capital dollars. For confidence, this article recommends to women to learn how to advocate for yourself. Use coaches, practices public speaking, and learn how to pitch your business
kpony001

Hilton launches meetings-focused Signia brand | Hotel Management - 0 views

  • At a launch event in New York City, Hilton President/CEO Christopher Nassetta noted
  • “There is a gap, we believe, in the upper end of the meetings and events space.
  • [They wanted] the type of technologies that will help them run their meetings much more efficiently and make it better [and] more customizable for their meeting attendees.”
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  • While luxury hotels may be popular for some events, all of the details and fixtures that separate an upper-upscale hotel from a five-star property can push the price point out of reach. 
  • With that input in mind, HIlton decided  a new brand was necessary to capture the shifting market.
  • They wanted more flexibility, much more daylight, modern architecture, an impressive space.”
  • The Hilton team talked with owners and developers of meeting-focused hotels for several years to get a handle on the brand.
  • an upgraded culinary experience—“not only in the banquet and catering spaces, but in the restaurants and the grab-and-goes and the destination bars,”
  • Over the years, the team talked to existing customers, members of its Honors loyalty program and even travelers who aren't part of the program, asking what it would take to get them into the ecosystem.
  • The more customers we talked to, the more they say that they think a premium meetings and events product would really be something that would resonate for them.”
  • Looking ahead, the team sees international potential for Signia Hilton, particularly in Asian countries that are looking to host large-scale events in upscale spaces
  • Most Signia Hilton properties, he added, will probably be new-build, and the team will work with both existing partners and new developers alike as each opportunity comes along.
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    At a recent even at NYC, the CEO of Hilton, Christopher Nassetta, announced that the Hilton team is developing meeting focused hotels as a means to get the upper hand on event management. These hotels are being built with events such as conventions and business meetings in mind while constructing a five-star property. Thus, a new brand, Signia, was created as a means to improve upon flexibility in its architecture, as well as more daylight, modern design, and more spacious volume, as well as an upgraded culinary experience, and technologies that help run meetings more efficiently, likely updates in their event management system. This premium quality is something that has been constantly asked by them from customers. In the future they are planning to stretch out internationally.
asanc036

7 restaurant technology trends to watch in 2022 - 2 views

  • Many restaurants have turned to tech in the last couple of years, even if reluctantly, to adapt to a new reality.
  • 1. Online ordering systems and delivery apps
  • he food delivery market is now worth more than $150 billion globally, which has more than tripled since 2017 largely attributed to the pandemic, according to statistics from McKinsey.
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  • 2. Contactless payment
  • It’s estimated that contactless payments will triple from $2 trillion to $6 trillion worldwide by 2024, and having such options are reportedly extremely important for 34% of customers.
  • 3. Online table reservation system
  • initiative Experiences
  • OpenTable is offering
  • unique culinary events and dining experiences
  • Ramen Nights in celebrity chef Hugh Acheson’s dining room, a ‘side-dish’ of line dancing lessons or a fixed-price tasting menu,
  • 4. Digital kitchen ‘boards’
  • Kitchen Display Systems (KDS) are a digital menu board for kitchen staff
  • Directly linked to the restaurant’s point-of-sale (POS) system, the screen displays orders automatically according to priority and flagging any special dietary requests.
  • 5. Automated inventory management software
  • racking meal delivery times and monitoring inventory to signal when a product is out of stock,
  • tracking food and beverage stocks, anticipating quantities and even scheduling reorders
  • implementation of such software
  • reduce food wastage, which is reportedly costing the hospitality industry $100 billion annually.
  • (AI) technology, companies like Kitro
  • cut food waste and costs
  • platforms like Too Good to Go also save restaurants from wasting their food surplus
  • 6. QR codes
  • QR codes
  • allows customers to access online menus, order and pay – without contact –
  • 7. Air purification technology
  • bipolar ionization
  • purifies the air and surfaces in indoor spaces by neutralizing contaminants
  • systems which make use of ultraviolet light
  • f both air and surface sanitization
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    "Technology and innovation are what have helped, even saved, restaurants as they transform how they operate to not just survive, but thrive, in this new connected and contactless era" "Third-party food delivery apps like UberEats, Foodpanda, or Door Dash will continue to be an important solution for those not able to offer in-house ordering and delivery services" "Contactless technology is going mainstream, and it's not just about placing an order online, but also about paying with a smartphone, smartwatch or smartcard via an app or touchless device" "technology-enabled reservation systems, restaurants can manage seating, waitlists, customer loyalty and dining preferences as well as collect vital client data be it for contact tracing or market insights" "Kitchen Display Systems (KDS) are a digital menu board for kitchen staff helping restaurants streamline back-of-house operations" "companies like Winnow are helping restaurant owners and managers cut food waste and costs and run their businesses more efficiently and sustainably" "auto-scanning barcodes with smartphone cameras on posters, tables, coasters, doors or websites allows customers to access online menus, order and pay - without contact" "air purification technologies to promote 'clean air'" https://diigo.com/0lmspn
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    Some of these technologies such as food delivery services, and conctactless payments I have grown used to as a consumer. However, technology like KDS to improve the back of house operations or air purification technologies are more behind the scenes type of technologies that I have not given much thought so I found this article interesting.
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    Many restaurants are adapting to a new reality. Some of the digital trends to watch in 2022 are as follows: 1. Online ordering systems and delivery apps - Food delivery market worth more than $150 billion globally. 2. Contactless payment estimated to triple from $2 trillion to $6 trillion by 2024. 3. Online table reservation system such as Open table Experiences initiative offering unique culinary events and dinner experiences. 4. Digital kitchen boards such as KDS, a digital menu board for kitchen staff linked to the restaurant's POI which displays orders automatically and efficiently. 5. Automated inventory management software tracking food and beverage stocks, anticipating quantities and scheduling reorders. 6. QR codes that allow customers to access menus online, order and pay. 7. Air purification technology like bipolar ionization and ultraviolet light.
Jennifer Koren

Keys to Mobile Engagement Success - 2 views

http://hospitalitytechnology.edgl.com/top-stories/Keys-to-Mobile-Engagement-Success-87649 There is no denying that Smartphones have taken the market by storm. Consumers are able to make grocery lis...

technology hotel travel tech mobile

started by Jennifer Koren on 03 Sep 13 no follow-up yet
Brittany K. Ward

Customer Expectations Linked to Restaurant Accounting Systems - 0 views

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    Every restaurant manager is highly concerned about guest satisfaction. This article touches on how accounting systems are theoretically used to increase customer satisfaction in the restaurant. The article first points out to focus on the 'four parts of the meal'; these are the food quality, culinary experience, the service experience, and the aesthetic experience. They take these four dimensions and create and accounting system around their expectations which was inspired by activity-based costing. Meaning they value the customer experience more than the cost of making the product. The metaphor the article uses to simplify this theory, "A pinch of salt costs nothing, but may make a large contribution to the experienced value of a bowl of lobster soup". Another important input that an accounting system has is being able to monitor customer expectations and assessment of the meal. This is a great tool for managers to be able to keep track of customer data.
jspie001

Post-Covid Restaurant Staff Shortages Could Accelerate Automation And Robots - 0 views

  • “We can’t get people in quick enough. We can’t get them properly trained. They’re, in some cases, not as good as their predecessors because their predecessors have more experience,” Institute of Culinary Education’s Dean of Restaurant and Hospitality Management at Rick Camac said. “We’re bringing in some people who are pure entry level and we’re trying to teach them the business of hospitality and without enough time to do adequate training.”
  • “If there is a burger joint in New York that has a great following and wants to expand, we can upload that recipe in Naperville, and customers will get the exact same burger,” Nala Robotics President and Co-founder Ajay Sunkara told Restaurant Hospitality. On the West Cost there’s a robot restaurant focused on Chinese food that will be opening.
  • “We see Carry as a kind of harvesting sidekick for workers. It’s an autonomous harvesting companion,” Reddy said. “What it can do in the real world is transport up to 500 lbs. of crops in all terrain and all weather. It can increase production efficiency by up to 30 percent, which means it pays for itself in only 80 days.”
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    This article highlight how robotics can be used to have consistency in staff across multiple markets while also addressing the shortage of qualified applicants in todays competitive market. As time goes forward efficiency and reliability of robotic workers and AI will become ever more prevalent and emerging products like the ones in this article are very good examples of the direction and trends of staffing in the future.
jeanique13

Why Hotel Developers Are Turning To Event Professionals To Design Their Spaces From The... - 0 views

  • event management experts are more qualified than anyone from the hospitality industry to work hand-in-hand with your design and architectural teams and build an event space that matches your event objectives, as well as your event brand identity.
  • gain, demonstrating the rapid growth and demand for standardization of the events industry as it applies to hospitality.
  • Just like the hotel hires quality assurance professionals for hospitality, hotels should begin budgeting for quality assurance professionals in the events sector to ensure their current spaces are up to code, or their future spaces will be built to acquire the maximum event-driven revenue.
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  • Hotel developers have recognized the need to create experiences within their hotel, resort or venue, meaning they are now redesigning the existing spaces within their restaurant, beachside, poolside or ballroom areas - specifically to cater towards events.
  • "As meeting and event planners, it is our responsibility to stay current with trends, whether it's colors, themes, décor elements, culinary creations or technology,"
  • An event management professional has a comprehensive view of all these event components, and more, necessary not only for proper event execution, but from the perspective of the client's needs.
  • As the orchestrater of all event vendors and the clients, event management professionals ensure transparent and consistent flow of information from hotel to vendor, vendor to vendor, vendor to client, client to guest, etc. Therefore, they understand the event from the holistic perspective of all the different parties involved, the pain points of each of the different elements from their perspective, and the solutions and preventative measures needed.
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    companies and people are wanting more evolved events design and decor and technology being apart of it. A dimly lit ballroom just isnt cutting it anymore. Event Managers are in high demand to work with hotels to create a space that can host all kinds of events in one venue.
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    As the need for event planning rising more and more over the years Hotel developers are assuring the need to hire event planners to help boost their sales and awareness for their property by redesigning and maintain their current areas. This allows many hotel owners to help create memories while leaving a great taste on the guest who requested the venue. he job of event planners are very critical because they go through every detail and trends to gather ideas for the clients. They have to keep in contact with property for any changes or layout to ensure it meets to clients needs.
mmilian

1 Hotels makes its Asia debut with a huge eco-luxury resort at Haitang Bay - 2 views

  • If your preferred holiday destination is somewhere in Europe or Southeast Asia, you could be forgiven for not having heard of 1 Hotels. Launched in 2015 with two properties in Miami and New York, it has since become a fixture among eco-conscious travellers across
  • In the mould of brands like The Sukhothai or Six Senses, the newly opened 1 Hotels Haitang Bay proposes a vision of luxury accommodation that is big on environmental and cultural sustainability. The property “draws inspiration from the rugged beauty of [Hainan Island]”, going beyond the now rather typical shtick of filtered water and fewer linen changes to give guests a tangible eco-conscious experience.
  • just some of the culinary destinations guests are invited to sample; all making use of the an off-site organic farm that supplies the hotel with Hainan’s best seasonal produce.
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    An article about an Eco Friendly luxury hotel. Its nice to see a company that focuses on green initiatives in their entire property, not just in the lobby, or in the public areas. The property in Miami Beach is amazing.
bbalthaser

U.S. Hotels - Controlling Telecommunications Costs - By Robert Mandelbaum and Michael K... - 0 views

  • Telecom costs increased at a greater pace than total operating costs across all chain scale categories except luxury hotels.
  • undergoing IT audits and consolidating telecom vendors across portfolios
  • upgrade certain technologies
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  • an IT audit and evaluation.  This is designed to detail an organization’s current technology landscape, how it performs and what additional needs exist.
  • Additionally, as portfolios become larger through acquisition across the globe, being able to limit disruption and deploy the best technology becomes even more important.
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    Expenses relating to telecommunications in the hospitality industry have seen an increase despite a decline in returns for products offered to guests like fees for phone calls and internet. The article explains the rising costs and how operators can control costs regarding telecommunications. "Between 2015 and 2019 telecommunications costs went up faster than operating costs across the board." One reason was due to the complimentary phone and internet offered at some properties. IT Audits, consolidation of telecom providers, and technology upgrades are three ways organizations can manage costs. IT audits involve looking at an organization's current tech plan and its performance. What does it need beyond what it has? Then consolidating the vendors used. Controlling costs especially when technology is changing will benefit owners and operators as it helps them "limit disruption and use the best tech".
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    Coming from a culinary background controlling costs is everything especially when it comes to food. In tech, it's way more than just what the customer sees or eats. I think IT audits would be a must nowadays in the hospitality sector as it provides a clear view of what is being utilized and a road map to where we can go and how we can skim the fat to make a better product for management and customers. I suppose consolidating tech would be like using one provider for a variety of tech solutions or software that includes many BOH applications in one place. That would be handy to have and management effectiveness would increase as you wouldn't need to educate employees on multiple platforms.
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