News Briefs

Teriyaki Madness (TMAD), the fast casual concept with 125 locations, is looking to partner with seasoned hoteliers in key markets.

Rahul Patel, a Teriyaki Madness franchisee in Dayton, Ohio, and hotelier, dishes on his experience: "I wanted to diversify my portfolio. ...TMAD stood out to me because it is a simple concept that is growing with healthier food and good portions." 

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Another successful hotelier and Teriyaki Madness franchisee, Darshak Patel of Sioux Falls, S.D., says: “The food is a different concept, it is what the people want, fresh and healthy. From top to bottom, everyone at the corporate office treats me like an equal. Having had no prior restaurant experience, it was important to me to know I will be supported fully. Teriyaki Madness has done that to the fullest.” 

An average of 3-6 employees needed per shift and a total of 12-20 employees typically on payroll are typically needed.

In the first quarter, Teriyaki Madness opened shops in New York City; Cypress, Texas; Fort Collins, Colo/; and Longview, Texas; and signed deals for a total of 17 new shops.

Existing shops (open for 12 or more months) also saw a notable 3.97% increase in AUVs (Average Unit Volume) Q1 YOY, plus 2.2% increase in SSS (Same Store Sales) Q1 YOY. 

Looking to the remainder of the year, the brand is targeting the greater San Francisco, Phoenix, Los Angeles, Houston, Chicago, and Dallas areas, as well as northern New Jersey up through Massachusetts and of course open nationwide. 

Interested hoteliers can visit: www.franchise.teriyakimadness.com. 

For electric vehicle owners in British Columbia, Tim Hortons is now fueling road trips in more ways than one.  The company has announced the expansion of its electric vehicle charging station pilot launched earlier this year in Oakville, Ontario, by unveiling six new charging stations at restaurants throughout  British Columbia.

Tim Hortons announced the pilot in February in an effort to study the technology, its usage and opportunities.

"We have been thrilled with the results of the pilot so far.  Usage of the charging station in Oakville has surpassed our expectations and we received many calls with requests to expand the pilot," said Paulo Ferreira, Senior Director, International Strategic Restaurant Design and Building Standards, Tim Hortons. "With more than 3,300 eligible restaurants across the country, we continue to look for opportunities to expand the pilot and contribute to the EV infrastructure."

The BC expansion, supported by the Province of BC's Community Charging Infrastructure Fund and Koben Systems Inc. (KSI), placed charging stations strategically in Nanaimo, Langford, North Vancouver, Burnaby, Abbotsford and Coquitlam to create paths within the province, allowing guests to travel from restaurant to restaurant strictly on electric power.

Tim Hortons offers charging stations as a courtesy to guests at six locations.  As of March 31st, 2013, Tim Hortons had 4,288 system-wide restaurants, including 3,453 in Canada, 808 in the United States and 27 in the Gulf Cooperation Council. 

The City of New York has set a minimum pay rate for app-based restaurant delivery workers.

Starting July 12, app-based restaurant delivery workers in New York City will be paid $17.96 per hour, approximately 30 cents per minute before tips.  The hourly rate will increase to $19.96 when it is fully phased-in on April 1, 2025, and will be adjusted annually for inflation.

Restaurant delivery apps will also have flexibility in how they pay the gig workers the new minimum rate. According to the statement, apps have the option to pay delivery workers per trip, per hour worked, or develop their own formulas, as long as their workers make the minimum pay rate of $19.96, on average. Apps that pay workers for all the time a worker is connected to the app. Apps that only pay for trip time (the time from accepting a delivery offer to dropping off the delivery) must pay at least approximately 50 cents per minute of trip time in 2023, not including tips.

According to a statement by the NY Mayor's Office, the city's estimated 60,000 delivery drivers make an average of $7.09 per hour.  Department of Consumer and Worker Protection (DCWP)  considered all comments submitted during the public comment period. For more information visit DCWP's website.

Breezeway, the property operations platform, has launched 24/7 guest support, allowing hosts and property managers to deliver memorable hospitality experiences in person, knowing that comprehensive guest assistance is readily available around the clock. 

The team at Breezeway Assist recognizes the importance of the human touch in hospitality, answering phone calls and text messages 24/7, 365 days a year. Breezeway leverages AI technology to gather accurate information and promptly deliver personalized responses to guests within a few minutes. 

Breezeway Assist uses data from guest reservations, messaging, property guide, and operational tasks to respond to guests. Property managers and hosts can choose to use Assist whenever they want — as an after-hours service, handling all guest interactions, or as a way of taking the pressure off in peak season. 

When guests reach out, the Breezeway Assist staff will address guest questions and create tasks in property managers’ workflow so they can see what interactions have taken place, even escalating urgent issues when necessary. 

The idea for Assist was borne out of the knowledge that guests who feel taken care of are far more likely to leave positive reviews, make referrals, and even book a return visit. The vast majority (95%) also prefer text rather than voice communication, opening up an incredible opportunity to leverage data stored on Breezeway’s platform to provide premium customer support at scale.

Breezeway Assist is the embodiment of People Powered AI, helping small businesses operate more efficiently and freeing up valuable time so teams can do more. Early results are incredibly promising. In fact, one Breezeway customer enjoyed a 78% improvement in guest sentiment after implementing Breezeway Assist. "We are getting 10X the value compared to a generic after-hours answering service,” stated Jacqueline Wilson, President of Biloxi Biloxi Beach Resort Rentals. “I trust Breezeway. They understand the industry, and onboarding with Breezeway Assist was seamless."

Jeremy Gall, CEO and Founder of Breezeway, explains: "Assist represents the continued expansion of Breezeway’s operations platform; another example of how hosts and managers can leverage operational data and workflows to drive more consistent hospitality experiences.” 

To learn more about Breezeway, visit https://www.breezeway.io/assist-demo. 

PPDS, the exclusive global provider of Philips professional displays and complementary solutions, is proud to have made a winning start at InfoComm 2023, with the Philips Tableaux digital signage series being named winner of the inaugural sustainability category at the annual SCN Installation Product Awards.

Held on the eve of the show at the Orange County Convention Center in Orlando, leading manufacturers from around the world gathered for the coveted and hotly contested annual award ceremony, which recognises the most innovative commercial AV products launched in the past 12 months, with winners determined by a public vote.

PPDS has taken a leadership stance in developing technology to significantly reduce power consumption of both new and existing products, without compromising quality of performance. The Philips Tableaux is a prime example of these efforts, providing incredible benefits for hospitality environments, including hotels, kiosks, bars, restaurants, cafes and other food and beverage establishments.

A new generation of digital signage

On display for the first time at InfoComm 2023 on Philips booth 929, Philips Tableaux marks the introduction of a brand new digital signage category for PPDS, becoming the first global display manufacturer to introduce a full size, Advanced Colour ePaper (ACeP) solution.

Already a multi award winner, Philips Tableaux is a pioneer for the full colour (including blue), energy efficient and eco-friendly digital displays, available at launch as a 25” 16:9 display, and with more sizes quickly due to follow. The groundbreaking displays deliver vivid content while running unplugged, using zero power to show an image 24/7/365. A super low power source is only required when content is being updated (just 0.0025kWh for one image change) – via USB, LAN or Wi-Fi connection – and power consumption immediately reverts to zero when the new image has been uploaded. Content updates can be managed manually or entirely remotely, using PPDS’ in-house or third party display management platforms.

Global appeal

Philips Tableaux are ideal for businesses seeking to effortlessly digitise paper-based signage, or to swap out existing digital displays showing static content more energy efficiently, with no refresh rates and no back light needed.

Martijn van der Woude, VP Global Marketing and Business Development at PPDS, commented: “We are absolutely delighted to have received this fantastic award here in the US, adding to the accolades for Philips Tableaux in Europe and showing it is a winning product across the continents. Having been voted a winner by the public also gives us an additional sense of pride. Sustainability is a key focus for PPDS, and something we, as a team globally, are incredibly passionate about. We couldn’t have asked for a better start to InfoComm 2023 here in Orlando.”

Franck Racapé, VP Global Commercial, added: “On behalf of PPDS, I would like to thank everyone who voted for Philips Tableaux for this prestigious award. The interest and excitement around this product have been overwhelming, and this, in tandem with this new award, is further validation that our strategy to deliver highly impactful and sustainable solutions is the right one. We can’t wait to show the Philips Tableaux, along with our other digital signage, dvLED (including the new Philips In-Room LED 6300 series) and interactive solutions to the North American market.”

Cvent Holding Corp. (“Cvent”), an industry-leading meetings, events and hospitality technology provider, announced the completion of its acquisition by an affiliate of private equity funds managed by Blackstone ("Blackstone") for $8.50 per share in cash, representing a total enterprise value of approximately $4.6 billion.

The transaction, which was previously announced on March 14, 2023, includes a significant minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and participation from existing stockholder Vista Equity Partners (“Vista”). As a result of the transaction, Cvent's common stock has ceased trading and will be delisted from the Nasdaq Stock Market.

Reggie Aggarwal, founder and CEO of Cvent, commented: “Events are more important and more complex than ever before. We believe this partnership with Blackstone positions Cvent to continue leading the market for best-in-class technology to maximize event ROI and impact. We will continue to aggressively invest in the innovative solutions organizations need to more deeply engage with their customers, prospects, and employees that are so critical to their success.”

David Schwartz, a Senior Managing Director at Blackstone, said: “Cvent has long been a go-to event management partner for organizations of all kinds, enabling them to embrace technology solutions in an increasingly digital world. We’re thrilled to support its continued growth and product advancements, bringing Blackstone’s global resources to bear and leveraging the firm’s deep expertise and thematic focus on hospitality, events and real estate.”

“Vista is proud of the partnership we’ve built with Reggie; the transformative change that Cvent has driven in the meetings and events ecosystem is a testament to how we help founders realize their company vision,” said Monti Saroya, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “Both he and his leadership team are torchbearers of innovation, ingenuity and culture, and we look forward to seeing what they accomplish next.”

 

Advisors

Qatalyst Partners acted as financial advisor to Cvent, and Kirkland & Ellis LLP acted as legal counsel to Cvent.

J.P. Morgan Securities LLC acted as financial advisor to the Special Committee, and Goodwin Procter LLP acted as legal counsel to the Special Committee.

Simpson Thacher & Bartlett LLP acted as legal counsel to Blackstone, and Evercore, Morgan Stanley & Co. LLC and UBS acted as financial advisors to Blackstone.