article thumbnail

2022 European Hotel Transactions

Hospitality Net

However, the Russian invasion of Ukraine in February 2022, which fueled huge increases in energy and food prices, overall inflation and therefore interest rates, resulted in a mixed picture for hotel transactions for the year. billion, total volume in 2022 fell short of 2021 by 18%, with 37 fewer transactions.

article thumbnail

Food prices a Christmas concern in Ireland

Food Safety News

A total of 62 percent of respondents identified the cost of food as their biggest concern as they plan Christmas dinner. This is an increase compared to 55 percent in 2022. Another survey by the Food Standards Agency also found people were worried about food prices. In 2022, only 26 percent made such a move.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Performance Greek Hospitality Industry Performance Q1 2023

Hospitality Net

The Greek luxury hotel sector registered significant growth in 2022 compared2019, supported by the return of the Americans. in 2022 compared to 2019. Travel receipts of international business travel to Greeceincreased by 6.1%

article thumbnail

Automation Can Help with Restaurant Staffing Shortages

Modern Restaurant Management

According to the National Restaurant Association’s 2022 State of the Industry Report, seven out of 10 restaurant owners report not having enough workers to keep their business open at full capacity. In the back of the house, rampant inflation and ongoing supply chain disruptions are cutting into margins.

Staffing 208
article thumbnail

Restaurant Startup Growth and Business Outlook for 2024

Modern Restaurant Management

However, a tight labor market and stubbornly high food prices will continue to weigh on restaurant margins in 2024. Unemployment has remained low throughout this tightening cycle and while wages rose in 2023, wage increases were more muted compared to 2022.

article thumbnail

The Restaurant Industry Two Years Into COVID

Modern Restaurant Management

According to The Wall Street Journal, food prices are estimated to rise on average five percent in the first half of 2022, while other sources point to a seven-percent increase by the end of the year. This estimate will likely be well under the price jump as fuel costs continue to rise. Increase in Costs.

article thumbnail

2021: A Year of Navigating Shortages

Modern Restaurant Management

Restaurants have faced labor shortages, supply and equipment shortages, and climbing food prices, with no past playbook on how to navigate the crisis. To help operators move forward, let’s take a look at some of the challenges the industry has experienced in 2021 and how they can come out on top in 2022 and beyond.