Dinova Business Dining Marketplace Reports 45% Growth in Q1 2017
Dinova, Inc., the only innovative proprietary marketplace exclusively focused on connecting business diners to restaurants nationwide, announced its first quarter marketplace results. Business dining spend through Dinova's marketplace has increased an astounding 45.34% in the first quarter of 2017, with a 39.9% growth in the number of business dining transactions and an 11.41% increase in the average business dining transaction size, over Q1 2016.
"The outstanding growth of our proprietary business dining marketplace is validation of this emerging business dining segment from all sides of our marketplace. More and more marquee restaurants have joined our marketplace to access profitable business patrons. At the same time, more than 50 Fortune 500 corporations have also joined our marketplace so that their employees can easily find high quality restaurants that are business diner preferred," said Vic Macchio, CEO and founder of Dinova. "We bring value to all our partners as well as business diners."
Dinova estimates that business dining industry-wide sales is up slightly at 1.1% in Q1 2017 vs. Q1 2016. This is in sharp contrast to the consumer dining industry which has been in significant decline over the past 12-18 months. According to Black Box Intelligence – a TDn2K company, consumer traffic is down once again in Q1 2017 with a 3.6% decline. Conversely, participating Dinova restaurants enjoyed increased traffic and overall growth from Dinova's business dining marketplace as well as increased spending by client companies. In Q1 2017, Dinova saw participating companies shift 29.54% more of their existing business dining spend into Dinova preferred restaurants vs. Q1 2016.
Based on Dinova's unique view into the business dining market, Dinova is also reporting the following Q1 industry-wide business dining traffic trends:
- 24% spending increase at Casual establishments; driven by a 16% increase in number of business dining transactions
- 19% spending increase at Fast Casual establishments; driven by a 16% increase in number of business dining transactions
- 15% spending increase at Fine Dining establishments; driven by a 25% increase in number of business dining transactions
- 3% spending decrease at QSR establishments; driven by an 8% decrease in number of business dining transactions
Dinova continually welcomes new, diverse restaurants to its business dining marketplace. Two such examples are Cactus Jack's Great West Grill, owned by Great NH Restaurants, and Jaguar Hospitality Group. Great NH Restaurants owner and CEO, Tom Boucher, is looking forward to getting started. "As a business traveler myself, I love to seek out interesting places to dine. The Dinova program is an ingenious way for the business traveler to find and enjoy great dining."
The two Cactus Jack's locations are in close proximity to large numbers of business travelers. The Manchester location is within 10 minutes of the Boston – Manchester Regional Airport, which is the gateway to New Hampshire and the greater Boston area, and the Laconia location is in the heart of the New Hampshire Lakes Region. With recipes that are made-from-scratch and feature a taste of Americana with a distinctive western flair, Cactus Jack's large menu will be a hit with any business traveler. "Cactus Jack's is just the type of locally owned restaurant that I look for when I travel," comments Boucher.
Jaguar Hospitality Group began in Miami with the opening of Jaguar Ceviche Spoon Bar and Latam Grill, featuring an enticing and unique selection of ceviches, while showcasing the many flavors enjoyed throughout Latin America. Talavera Cocina Mexicana, an inviting and sophisticated concept in the heart of Miami's Coral Gables, with an expansive menu inspired by old and new world Mexico, is often regarded as South Florida's premiere destination for authentic Mexican cuisine. Peacock Garden Café in Coconut Grove, is the charming neighborhood favorite, and Jaguar Hospitality Group's gift back to their beloved neighborhood, paying tribute to the area's rich and storied past in its concept and cuisine. The recipe for the success of Jaguar Hospitality Group is a simple one – pair the highest quality ingredients and unforgettable flavors with an inviting setting, approachable prices and personal, friendly service.
"As part of our existing programs for sales and marketing, our partnership with Dinova will provide an additional channel that we can use to target the business traveler and corporate diners," said Natalia Durazo, Marketing and Branding at Jaguar Hospitality Group. "This new avenue will be a vital resource for us that allows us to connect with a lucrative business dining segment to increase traffic to our restaurants and further expand our business."
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