ATLANTA, July 19, 2016 /PRNewswire/ -- Dinova LLC, the only innovative, proprietary marketplace exclusively focused on connecting expense account diners to quality restaurants nationwide, announced today that it has surpassed $5 billion in business dining spend influence. Dinova's marketplace has steadily increased by 7.8 percent in the first half of 2016 with the average transaction spend amount increasing by 9.4 percent YOY. Like other successful internet marketplaces, such as Airbnb and Uber, Dinova is quickly capturing market share and is progressing into a successful mid-size corporation.
The increases and uptick of Dinova's marketplace in the first half of the year are due in part to certain business dining trends, including a 7 percent increase YOY for Fast-Casual and Fine Dining spend in particular. This correlates with Dinova marketplace research, conducted with The BTN Group in April, which shows that companies are reporting a 33 percent increase in Fast-Casual spend, 34 percent increase in independent restaurant spend, and 16 percent increase in chain dining establishment spend. Over 56 percent of companies indicated that increases are due to more meals being purchased overall. Since Fast-Casual is the fasted growing segment in the restaurant industry, Dinova's increase in this category correlates with that industry trend as well.
Additional insights from the Dinova marketplace include an exceptional 19 percent YOY increase in the Healthcare vertical, 16 percent YOY increase in Consumer Discretionary companies and 14 percent YOY in the Information Technology vertical.
"Dinova's marketplace continues to thrive as we surpass the $5 billion milestone," said Vic Macchio, founder and CEO of Dinova. "Between the trends we're seeing in Fast-Casual and the increasing desire for unique and niche dining options, it is clear that restaurant diversity in our network is paying off."
As business dining spend increases, Dinova continues to add an increasingly diverse group of restaurants to its more than 14,000 restaurant partners nationwide. "We are thrilled to add Lazy Dog Restaurant and Bar, Fadó Irish Pub, and Chaya to our growing marketplace," said Macchio.
"Part of the foundation of our culture has always been to partner with our local businesses and Dinova is a way for us to stay true to who we are while exposing our brand to new business guests," said Chris Simms, founder and CEO of Lazy Dog Restaurant and Bar, a 19-unit casual dining chain operating in California, Nevada and Texas. "We are particularly excited for the opportunity to serve corporate card holders and offer them an exceptional dining experience and 'go to' place for meals during the work week. As a growing family founded restaurant group, we were looking for a partner that could grow with us as we expand into new markets and with Dinova's national presence, we are confident they are the right fit."
"In partnering with Dinova, we're glad we have an extended opportunity to help businessmen and women across the nation end a long day with great food, drink and a little banter," said John Piccirillo, director of marketing at Fadó Irish Pub. Fadó Irish Pub is a premier restaurant and pub with 13 locations across the U.S., and is known for its exceptional draft beer, creative cocktails, thoughtful dishes and embodiment of the Irish pub culture.
"We are excited to now have all three of our restaurants with Dinova, and feel that this partnership is a win-win for us to expand our base of business clientele," said Rachel Pattison, Marketing Manager of the Chaya Restaurant Group, a Japanese-fusion concept in San Francisco, Venice Beach and Downtown Los Angeles. "We look forward to cultivating a close relationship with the Dinova team in order to grow our business at all three locations."
Dinova LLC (www.dinova.com) is the only company providing an innovative, proprietary marketplace exclusively focused on connecting expense account diners to quality restaurants nationwide. Dinova influences more than $5 billion annually in business meals and entertainment expenses. Participating companies range from millions of small to medium sized businesses to hundreds of Fortune 500, and its 14,000+ restaurant network includes local independents as well as national full-service and limited-service restaurant chains, encompassing all price levels and cuisines.