ATLANTA, March 2, 2015 /PRNewswire/ -- Dinova LLC reported today that overall restaurant spending by American companies grew 5.6 percent year-over-year in 2014. Corporations also dined out more often; transaction volume was up 3.6 percent in 2014. Data was gleaned from Dinova's clients, which include more than one-third of the country's highest-travel-spending companies and spend more than $2.5 billion annually on dining and catering.
With restaurants registering impressive overall fourth quarter and December gains, corporate spending led the way. Companies spent nine percent more than in December 2013, registering a six percent increase in transaction volume. TDn2K's Black Box Intelligence reported that same-store sales grew 3.1 percent in December, the best month on record since January 2012.
From the perspective of Dinova network restaurants, December was a landmark month. After a concerted marketing effort by Dinova staff and influencers within corporations, Dinova's clients spent 130 percent more at Dinova network restaurants during the holiday season than in 2013. (Dinova's clients gain more value from their dining spend when they steer more in-house catering and travelers to Dinova network restaurants.) Dinova's overall fourth quarter numbers were consistent with full-year results.
"Looking across 2014, corporate dining helped keep restaurants afloat during the weather-challenged first quarter, and consistently delivered steady business as the economy improved and more companies put travelers on the road," said Dinova founder and CEO Vic Macchio. "Interestingly, the increases we saw in October and November did not mirror the larger growth of transient dining spend. Corporate dining, at its base, is steady and predictable, and restaurants with access to corporate event planners and travel managers enjoy a less volatile planning environment. These restaurants are less susceptible to the economic damage that can be done by weather-related events or energy issues."
Dinova connects restaurants and corporations in a nationwide network, driving valuable business dining to restaurants and enabling corporations to reduce travel and entertainment expenses. Dinova's network includes more than 12,000 independent and chain restaurants, encompassing all price levels and cuisines.
DINOVA NETWORK RESTAURANTS PROJECTED TO SEE GAINS IN 2015
Turning to the corporate dining spend forecast for 2015, Dinova anticipates growth ranging from five to 8.5 percent from its corporate clients. The Global Business Travel Association projects that U.S. business travel spend will increase 6.2 percent to more than $310 billion, with overall trips increasing by nearly two percent. The National Restaurant Association anticipates overall restaurant sales in the U.S. will grow 3.8 percent in 2015, exceeding $709 billion.
"All these road warriors need to eat, whether it be a quick breakfast on the go or a private dining event for clients," said Macchio. "With airfares and hotel rates also on the rise, companies are increasingly aggressive about leveraging their dining spend, using more Dinova network restaurants, and maximizing the value of the spending done by travelers and event planners."
DINOVA EXPRESS ENHANCES RESTAURANT EXPOSURE TO CORPORATE EVENT PLANNERS
Dinova is launching a new program to give its network restaurants access to event and meeting planners at the headquarters and regional offices of its corporate client base. On March 3 in New York City, Dinova will conduct its first "Dinova Express" tour, an excursion that will bring event planners from seven prominent companies – cumulatively representing more than $41 million in annual dining spend - to multiple Dinova network restaurants with private dining facilities.
"It can be difficult to reach planners inside corporations who often make decisions about where executive groups will eat on a given night," said Kris Moon, senior director, strategy and development at the James Beard House. "Dinova's ability to facilitate access to these influential employees is a prime reason for our participation in their network." The James Beard House offers an impressive dining environment featuring a roster of rotating guest chefs who create unique tasting menus for one night only and which are enjoyed both by individuals and groups. The James Beard House will be part of the March 3 event.
Dinova LLC (www.dinova.com) connects restaurants and corporations in a nationwide network, driving valuable business dining to restaurants and enabling corporations to reduce travel and entertainment expenses. Automation makes the process seamless to both diner and restaurateur, with no loyalty cards or key entries required. Dinova is headquartered in Johns Creek, GA, a suburb of Atlanta.
SOURCE Dinova LLC