THE INTELLIGENCE
News, insight and analysis
THE INDUSTRY REACTS TO US ELECTION RESULT On his return to power next year, the new President will be greeted by a restaurant sector burdened by pressures and hoping for an advocate. “We congratulate President-elect Donald J. Trump and Vice President-elect J.D. Vance, and the newly elected members of the US Senate and House,” said Michelle Korsmo, president and CEO of the National Restaurant Association. “We look forward to working with members of both parties to advocate for policies that create an environment where restaurants can thrive as a cornerstone of our communities and our economy.”
STAFF IN UK HOSPITALITY NOW RECEIVE ALL TIPS New legislation that came into force in the UK on 1 October 2024 means service staff now receive 100% of tips paid by diners. The Employment Act and the statutory Code of Practice (on the fair and transparent distribution of tips) applies to restaurants, pubs and bars, as well as many other service and hospitality-based companies.
The change comes in the same year that a survey revealed a 100% increase in the number of UK businesses using the tipping function on their card readers. The same survey, carried out my RSM UK, also found that the average tip in bars and pubs has increased by 54%, while cafes and restaurants have seen a 13% increase.
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AMERICAN EXPRESS TIGHTENS GRIP ON RESTAURANT-BOOKING MARKET WITH LATEST ACQUISITION With the announcement that American Express has purchased online restaurant reservation platform Tock, the company will extend its control of the booking-market in the US. In the $400m deal American Express has bought the technology firm, first launched by Nick Kokonas of Alinea restaurant in Chicago. It already owns competitor app Resy, where access to special tables and exclusive events are among the benefits for fee-paying American Express
card holders. Tock currently works with 7,000 restaurants across the US.
ISTOCK.COM
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