News Briefs

Revenue Management Solutions (RMS), a global leader in restaurant data analytics, unveiled Price Studio, a groundbreaking AI-powered dashboard that will evolve strategic restaurant pricing and deliver new levels of profitability for restaurant brands.

Price Studio sets a new standard in restaurant pricing strategy by marrying RMS’ unparalleled expertise with the latest AI technology. The easy-to-use solution empowers franchisees and multi-unit brands to build and test the viability of complex pricing scenarios in a fraction of the time without negatively affecting customer traffic.

“Since 2019, average menu prices have increased as much as 40%, and customer traffic is declining,” said John Oakes, CEO of RMS. “In this environment, making well-informed pricing decisions is crucial. Price Studio incorporates data across the full pricing environment so brands can simulate price scenarios that create real value for customers and their business — all from their desktop.”

Powered by Experience and Innovation

Drawing on three decades of pricing expertise, RMS engineered Price Studio as part of a comprehensive suite of solutions that uses technology to simplify an increasingly competitive pricing landscape. The platform is the first to incorporate data across internal and external sources, including historical customer behavior, seasonality, RMS’ patented consumer price elasticity scores, competitor pricing insights from over 170,000 restaurants and POS data.

Comprehensive Insights for Profitable Decision-Making

Price Studio’s AI capabilities deliver price recommendations alongside actionable insights into revenue, traffic and cost implications. Through the easy-to-use dashboard, brands can test and implement pricing adjustments across entire menus and directly export them to their restaurant’s POS system, streamlining a process that traditionally would take months.

Users can uncover pricing opportunities across all menu items, compare margin impacts by price tier and category, and identify potential traffic risks and margin challenges. Price Studio ensures that pricing strategies align with marketing initiatives and brand pricing rules to guide users toward profitable pricing strategies at all levels, including individual locations, regions or entire systems.

Finding Value in Your Price Strategy

In addition to identifying opportunities to adjust pricing on popular items without negatively affecting sales, Price Studio flags items that might be overpriced and could benefit from a reduction, all through its intuitive dashboard. By quickly analyzing the potential outcomes of pricing changes, brands can craft a strategic, targeted and profitable pricing strategy that protects their customer value equation.

“Price Studio helps restaurants create profit-driven pricing strategies tailored to their customers' willingness to pay and their perception of value,” said Oakes. “Thanks to the platform, brands can test and learn in less time than ever before while still weighing the many factors that affect the value equation, such as menu mix, item trading relationships, brand integrity and changing customer behavior.”

Domino's Pizza Inc. introduces its new and improved loyalty program. 

Domino's Rewards offers loyalty members even more opportunities to earn and redeem points across its corporate and franchise store locations. Domino's enhanced rewards program allows customers to:

• Earn points for less
  • Loyalty members will now earn 10 points on every order of $5 or more
• Redeem points for even more menu items – and earn free Domino's after just two orders
  • Members can redeem a variety of points for more menu items:
    • 20 points: A free dipping cup, a 16-piece order of Parmesan Bread Bites or a 20 oz. drink
    • 40 points: An order of Bread Twists or Stuffed Cheesy Bread
    • 60 points: A medium, two-topping pizza; pasta; Oven-Baked Sandwich; or a 3-piece order of Chocolate Lava Crunch Cakes
• Earn more rewards
  • Loyalty perks are now even better, as members will have exclusive access to member-only deals, special discounts and opportunities to earn bonus points!

"We are thrilled to give the brand's loyal customers additional ways to earn free Domino's items more often," said Mark Messing, Domino's vice president of digital experience and loyalty. "At a time when most brands are scaling back their loyalty programs and making it more difficult to earn and redeem points, Domino's is doing the opposite. We want to make it easier to reward our customers and give them more options so they can get rewarded faster."

Marketing a LTO 

From now until Oct. 22, 2023, rewards members can take advantage of a limited time offer to redeem 20 points for a free order of Domino's new Pepperoni Stuffed Cheesy Bread, which is normally a 40-point redemption, in celebration of the product's recent launch. 

Stayntouch, a provider of cloud hotel property management systems (PMS), is proud to announce that it has delivered unprecedented levels of system performance and reliability, leading to a 96 percent customer retention rate of its hotel customers.

Independent hotels and brands often face technology performance challenges, which can harm their business, especially with legacy or unproven PMS providers. Stayntouch leverages AWS (Amazon Web Services) to power its cloud-native PMS, ensuring high performance, scalable architecture, and enhanced usability.

• 100 Percent System Uptime for Hotels | Stayntouch has consistently exceeded 99.97 percent system uptime, measured quarterly per its Service Level Agreement. The company has delivered a consistent 100 percent system uptime for over eight quarters.
• 70 Percent Greater Efficiency with Multi-Property Management | Stayntouch's intuitive design, combined with comprehensive multi-property functionality, enhances efficiency in setting up new properties and managing chain portfolios by up to 70 percent.
• 96 Percent Customer Retention Rate | With dedicated implementation and client success teams, 24/7 customer support, and response times under one hour, Stayntouch cultivates strong customer relationships, contributing to an impressive 96 percent client retention rate.

Prabol Bhandari, the chief technology officer at Stayntouch, said, "Our commitment to maintaining near-perfect system uptime underscores our dedication to reliability and excellence. By consistently delivering 一 and overdelivering 一 on this promise, we empower our hotel customers to operate seamlessly and delight their guests."

Yossi Maslaton, head of cloud infrastructure and security for Stayntouch, said, "Our cloud PMS has been built from the ground up to deliver the flexibility and comprehensive feature set necessary for clients to manage increasingly complex portfolios. With zero downtime for product updates, fixes, and security patches, we enable our clients to optimize their operations and achieve unparalleled efficiency gains."

Priya Rajamani, VP of implementation and support at Stayntouch, said, "Our 96 percent customer retention rate is a testament to our platform’s reliability and performance, in addition to our commitment to customer success throughout the client lifecycle. We cultivate strong, enduring partnerships with our clients through personalized support, rapid response times, and proactive solutions, ensuring their continued satisfaction and success."

Hospitality America is thriving. Coming off the heels of its most profitable year for their hotel partners, Ben Campbell has transitioned from Chief Operating Officer to President and Chief Executive Officer. Hospitality America Founder and CEO Chris Cargen has retired and will assume the newly created position of Chairman of the Board. This transition symbolizes the company’s unwavering commitment to sustained growth, operational excellence, and forward-thinking leadership.

Just weeks into his term, the 36-year-old chief is crafting his vision for the company, which includes growing from 17 hotels to 40 hotels in less than 10 years; expanding its portfolio to include more lifestyle and full-service brands; investing in tools and technologies to improve efficiencies, optimizing its capacity and profitability; and continuously enhancing the award-winning company culture for the betterment of employees and guests.

“Ben's journey to CEO is a testament to his dedication and expertise in the hospitality industry,” Cargen said. “His experience at every level of the organization has positioned him to lead Hospitality America's next chapter. Ben's strategic vision and dedication to excellence will continue to position Hospitality America as an industry leader among third-party operators."

Rapid Rise to the Top

Campbell began his hospitality career 15 years ago, working as a Department Manager with Delaware North Companies Inc. (assisting at the Carolina Panthers Stadium and then managing the company’s Concessions/Catering Departments). Journeying on to hotels, he served as Reservations and Revenue Manager for three Palisociety Hotels before working as Revenue Manager for OLS Hotels and Resorts (now Springboard Hospitality). In 2015, he joined Hospitality America, starting as Director of Sales, then held multiple General Manager positions until he was promoted to Regional Director of Operations and then Chief Operating Officer. It was in the COO role that Campbell began conceptualizing an ambitious vision for the company’s future.

“Throughout my career, I have always strived to be better,” Campbell said. “I firmly believe that when you see an opportunity, act on it – whether it’s securing third-party management contracts, helping guests, or recognizing and rewarding employees. Career development is extremely important. If there is one thing I want to project onto our associates, it’s the importance of learning something new every day. When that happens, promoting from within the company is a natural progression. While I plan to remain in the CEO role for quite some time, I would be honored to help grow the next successor.”

The Future is Bright

After attending the 35^th Annual Hunter Hotel Investment Conference last week, Campbell said he left the event knowing that the hotel industry is extremely positive, and that Hospitality America is in an enviable position for growth.

“People feel optimistic,” he said. “The hotel brands are reporting that their pipeline of units sold is greater than ever before. That said, there are not as many shovels in the ground as there could be. We are seeing a diversity of commercial real estate firms entering the hospitality space, such as multi-family, and that is where Hospitality America has a significant advantage. With Hospitality America, owners and developers get the scale of a bigger company with the individual attention of a smaller management company. We bring financial capabilities, scalability, and ease to just pick up the phone, call the CEO, and get individual attention.

"On behalf of Hospitality America, I want to express our gratitude for Mr. Cargen's years of outstanding leadership and mentorship,” he said. “I’m committed to his legacy, achieving our strategic objectives and maintaining our position as a top place to work."

Campbell’s advice to young people entering the hotel business is this: Work hard, learn much, and don’t be afraid to speak up.

Cloudbeds, the hospitality management platform powering more reservations and happier guests for independent lodging businesses around the globe, urged independent hoteliers to look beyond raising their average daily rates (ADR) as a hedge against high inflation.

The guidance comes from Cloudbeds’ 2024 State of Independent Lodging Report, which revealed lodging businesses can no longer rely on ADR increases as the main driver of hotel performance. Instead, they must proactively adopt additional strategies to offset the rising operational costs.

Despite many hotels already streamlining their staffing models and trimming housekeeping services, Cloudbeds emphasizes that independent hoteliers can explore further avenues to reduce costs and increase pricing, particularly in food and beverage services, parking, ancillary fees, and non-refundable rates.

Sebastien Leitner, VP of Partnerships at Cloudbeds, said: “While hotels have experienced record ADRs, it hasn’t been enough to offset a hike in operating expenses and global inflation. Hoteliers face a critical question going forward: if travelers are becoming increasingly price-sensitive, how much longer can pricing be pushed to offset rising costs? ADR is no longer an inflation hedge. Instead, we’ll see independent businesses turn towards streamlined operations that maximize profitability and delight guests.”

The technology provider highlighted that room rates surged by 20% in 2023 compared to their 2019 levels. However, amidst this increase, global inflation peaked at 8.7% in 2022 before declining slightly to 6.9% in 2023. Consequently, the rising operating expenses outpaced revenue growth for many independent hotels.

Cloudbeds’ findings are grounded in data from 10,000+ independent properties, encompassing boutique hotels and guest houses, B&Bs, and hotel groups in over 100 countries across North America, Latin America, Europe, and the Asia-Pacific region.

For comprehensive global insights into the independent lodging landscape in 2024, download a free copy of Cloudbeds’ annual ‘State of Independent Lodging Report’ at https://www.cloudbeds.com/hospitality-industry-report.

ParTech, Inc. (PAR), a global restaurant technology leader and provider of unified commerce for enterprise restaurants, announced that Wendy's^®, has selected PAR’s industry-leading loyalty and offer solution, PAR Punchh^®, to advance its already successful loyalty program into the next generation of customer engagement.

Wendy’s will leverage PAR Punchh’s AI-driven platform and Punchh Enterprise Support to enhance its loyalty program for customers who visit any of their nearly 6,500 locations across the United States and Canada. With PAR Punchh’s advanced loyalty expertise and personalization engine, Wendy's aims to advance its loyalty program with best-in-class gamified experiences, targeted offers designed to bring great food for a great value to its customers, and exclusive promotions tailored to individual customer preferences.

The open architecture of PAR Punchh ensures seamless integration into Wendy’s existing app and online ordering systems, optimizing their technology stack for both current and future operations. This integration will enhance the omni-channel experience, digitally and at the restaurant.

In collaboration with PAR Punchh’s team of loyalty strategists, Wendy’s will craft a comprehensive strategy, aiming to elevate the guest experience and drive customer satisfaction.

“Loyalty is not a feature, it’s an outcome – driving more customer lifetime value. We believe that coupling our technology with our skilled team of loyalty strategists not only gives brands the tools to build guest loyalty, but also puts us in the driver seat with them to deliver results," said Savneet Singh, CEO of PAR Technology. “The partnership we’re building with Wendy’s is going to help cultivate their ability to deepen relationships with their fans and stand out. Blending their iconic brand offerings with cutting-edge solutions is a winning combo!”

This collaboration is the latest example of PAR’s commitment to providing innovative solutions that drive revenue and foster strong, meaningful connections with guests. Over 200 global enterprises in 20 countries, including brands like Casey's, and Tropical Smoothie Café, LLC, rely on PAR Punchh to boost revenue by fostering strong customer relationships.