Sometimes Money Does Buy Love Gecko Hospitality podcast

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Sometimes Money Does Buy Love

Show Me The Money

Valentine’s Day is the 2nd busiest time for restaurants, the 1st is Mother’s Day. For Valentine’s Day, about 81% of reservations are made for two people, this means it can get a little crowded! Americans are expected to spend about $20 billion on everything that is included for Valentine’s Day, this is a little over 1 billion more than the year prior.

When Valentine’s Day falls on a Saturday there are usually more walk-ins rather than reservations. Couples should book their reservations at least eleven days in advance to ensure a spot. This ensures you are able to reserve a spot at your favorite restaurant. When Valentine ’s Day doesn’t land on a weekend, couples tend to prepare early, celebrating the weekend before or after.

Good news for servers - tips tend to be higher around Valentine’s Day. This is because the person who pays the bill doesn't want to look cheap with whom they are impressing! The popular types of restaurants to dine at on Valentine’s Day are Italian (27%), French (18%), and Spanish (16%) restaurants. When picking out a restaurant for the special day, 42% of people pick their significant others favorite restaurant. The average cost of Valentine’s Day dinner nationwide is about $150.00.

Preparing For The Big Day

Preparation for Valentine’s Day could be as simple as changing tablecloths to red, lowered lights, and playing romantic music. Many restaurants get in the holiday spirit by trying to create a “heart” in the food the customer orders. Restaurants can shape almost anything into a heart such as pizzas, sushi, cakes, and fruits. People between the ages of 25 and 44 are more likely to dine out than any other age group. Preparing for this holiday includes planning, prepping, training new staff, and presenting your menu before anyone else. Done right, a restaurant can make about triple the revenue compared to any other night. Creating a special one-day promotion such as Bonefish Grill’s surf and turf dinner for $29.90 per person offers an affordable option for those who are on a budget but still want to have a nice Valentine’s Day dinner.

For some restaurants, Valentine's Day is a make or break period. Preparing for a holiday that is this busy can only help restaurants on the big day. This Valentine's Day, it is expected that more couples will spend more this holiday than any other year, showing that sometimes money does buy love.

20 episodes