Person of the Week

Alex McCrindle - a tribute

Alex passed away on Wednesday, 4th of November at the age of 63. The Chief Executive Officer of Lindley Catering was highly experienced in the stadia environment having previously worked at the old Wembley Stadium and London Arena. An accountant by training, he was passionate about quality and standards of service in the sector. Alex was a man of high moral principle and integrity, and greatly respected within the industry. He will be
sadly missed.

Quote of the Week

"Here's the concluding sentence from Adam Smith's Wealth of Nations, published in 1776. In circumstances where government revenues (taxes) cannot be increased, Great Britain "should endeavour to accommodate her future views and designs to the real mediocrity of her circumstances". The only consolation in the rude awakening and reduced circumstance we seem to be in for is that our forefathers have been through much the same and lived to tell the tale. In most cases, the British economy emerged the stronger for it."

Jeremy Warner, Daily Telegraph, quoting Adam Smith

Facts of the week

Research points to compensatory behaviour for discounting

Price of three course meal in pubs, restaurants and hotels has increased in the past year according to research

• Horizons biannual Menurama survey has shown that the cost of starters and desserts has risen year-on-year, with pubs showing the largest increases.
• The average cost of a three course meal across all eating out establishments, excluding drink, has risen from £17.40 to £18.45 over the past year - an increase of 6%.
• Whilst main course prices have remained fairly stable, and in some cases were lower than the previous year, Paul Backman of Horizons said, "Some operators, particularly in the pub sector, have made up for discounting on main courses by increasing the price of other dishes."
• What impact will this have on demand in an increasingly price conscious and aware consumer environment?

Click here for link

Mad Men

Insight from the 99th annual conference of the US Association of National Advertisers

• In an interesting article this week, two major US brands provided their observations on the current outlook – one being somewhat shocking, the other positive.
• Stephen Quinn, Executive Vice President and Chief Marketing Officer at Wal-Mart said, "There are families not eating at the end of the month...and literally lining up at midnight," waiting to buy food when pay cheques or government cheques land into their bank account.
• Conversely, Eric E Schmidt, Chairman and Chief Executive of Google opening his speech with the following, "We know we have begun the recovery" because searches on google.com for terms like restaurants and dancing are increasing. "I think we should be optimistic," he said.
• David Jones, Global Chief Executive at the Havas Worldwide and Euro RSCG Worldwide units of Havas, echoed Eric's assessment. "We will be out of this crisis faster than you think," he said, and enter 2010 "in a much more positive frame of mind."

Source: nytimes.com

Scottish Hospitality Industry £100,000 Scholarship Scheme

Applications are now open for the annual emerging talent scholarship scheme. HIT Scotland is looking for 200 ambitious and talented individuals to attend world class training courses and undertake money can't buy learning experiences.

The scholarships will be awarded at the emerging talent conference on the 3rd February 2010 at Perth Concert Hall.
Entries close on the 11th December 2009.

Click here to find out more about how to apply

Article of the week

EP Condense is EP's weekly e-newsletter. But did you know that EP is also a bimonthly magazine available via subscription? Our Article of the Week provides a sample of what we have featured in past issue.

This week we feature a story from a recent edition of EP. It is a business feature entitled "Individual's Pursuit." EP met with Iain Donald, Operations Director, Individual Restaurant Company, owners of Piccolino, Restaurant Bar & Grill, Bank Restaurants and Zinc Bar & Grill, to discuss the business plans for development in the short and long term. How are they adapting to challenges of the current economic climate?