Olympic Impact on Restaurants
Posted on Mon, Feb 22, 2010 @ 05:02 AM
Olympic Impact on Restaurants and Food Service In Vancouver/Whistler Reach 128% Sales Increase In Week One!
Vivonet releases sales data from 1,584 restaurants and foodservice outlets…
Vancouver, British Columbia – February 22, 2010. – Vancouver, BC: Restaurants in Yaletown and downtown Vancouver are reaping the benefits of the first week of 2010 Olympic spending with sales increases of 128% and 89%, respectively, compared to February 12-21 of 2009.
The research, compiled by Vivonet also shows that in Whistler, restaurants are feeling the glow. According to Vivonet President & CEO Ryan Volberg, sales are up 44%, with limited service dining up 80% and full-service dining up 56%. This is not the case for restaurants in the Broadway Corridor, the suburbs or areas outside the downtown core of Vancouver, where owners have seen their sales drop slightly.
In a national comparison, restaurant and food service sales during the first week of the Vancouver 2010 Olympic Winter Games in Eastern Canada increased by 6% and were flat in the Prairies.
Vivonet, a Software Service Provider (SaaS) that processes millions of transactions every month in the hospitality and retail sectors across North America, released the results today based on actual sales data from 1,584 restaurants and foodservice outlets.
“This information is very exciting,” says Ian Tostenson of British Columbian Restaurant and Food Services Association. “Previously, all of the information on the impact of the Games was anecdotal and there were always conflicting opinions. If London is smart, they’ll use this information to prepare their restaurant community for the 2012 Olympics.”
“From viewing the data, it is clear that if you’re outside of the core event areas, you’d better create the atmosphere of the event within your four walls,” says Tostenson. “If you’re within a venue area, the biggest challenge you’ll have is keeping up with the demand. Prepare as much ahead as possible, without sacrificing your quality.”
Volberg says Vivonet will continue to monitor the Olympic impact with regard to return on investment for venue city restaurants during the last week of and immediately following the 2010 Vancouver Olympics. “Our next data analysis will closely track issues like Olympic fatigue,” he says.
To see more industry trends visit Vivonet online here: http://www.vivonet.com/run-better
About Vivonet:
Established in 1999, Vivonet is the restaurant industry leader in software as a service (SaaS) solutions that enable, acquire and organize millions of transactions every month for customers across Canada and the United States. Vivonet provides Halo™ Secure Web-Based POS an on-demand enterprise management, point-of-sale (POS), payment processing and performance benchmarking solutions for its customers. Vivonet’s unique ability to aggregate the transaction data created by its customers allows their customers to benchmark their performance against other users and the industry at large – leading to better performance and higher business success rates.
About Halo Secure Web-Based POS:
As the industry leader, Halo™ Secure Web-Based POS powered by Vivonet gives restaurateurs the tools, information and knowledge they need to run better. In fact, restaurants that use Halo™ Secure Web-Based POS outperform the National Restaurant Association’s sales index by an average of 3.88%. For more information about Halo™ Secure Web-Based POS, please visit www.Vivonet.com.
Media Contacts:
John Uhrig
Internet Marketing Lead Generation Manager
E: juhrig[@]vivonet.com
T: 1.866.512.2033 x 108
W: www.Vivonet.com
