Understanding Value
Keith Schofield
Restaurant Consultant
Details In Retail
Director of Restaurant Operations
The Townsend Hotel
Webster’s defines Value as:
the price or cost of something
usefulness or importance
a strongly held belief about what is important
No thing has any inherent value beyond that which an individual ascribes to it (i.e. value is relative). The primary objective in the hospitality industry is to discover [...]
Measuring Consumer Confidence – Check Their Wine Bottles
by Keith Schofield
Director of Operations,
The Townsend Hotel
Restaurant Consultant,
Details In Retail
One unfortunate side effect of the world financial turmoil is the proliferation of economic pundits manipulating statistics to underscore the credibility of their prognostications. A veritable alphabet soup of acronyms (GDP, S&P, ADR, GNP, FTSA, etc.) indicate either we haven’t hit bottom yet, we’re well on [...]
Menu Prices on the Rise
By Keith Schofield
Restaurant Consultant for Details In Retail
The climb in oil prices has been placing enormous upward pressure on commodities across the board. Higher transportation and fertilizer costs translate to unprecedented pricing levels for rice, flour, oil, produce and every other item in a restaurants cooler and storeroom. Profit margins and the necessity of meeting [...]
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