News

Corporate spending at restaurants jumps 7.1% in Q3

December 2, 2014

Dinova LLC reported today that overall restaurant spending by its corporate clients grew 7.1 percent year-over-year in the third quarter of 2014. The total average check paid by Dinova clients increased 6.5 percent year-over-year, from $51.36 in last year’s third quarter to $54.74.

According to a news release, Dinova’s clients, which include one-third of the country’s highest-travel-spending companies, spend more than $2 billion on dining and catering annually.

For the impending holiday season, Dinova projects that corporate dining sales will jump by a notable percentage.

"If current trends hold, we could see corporate dining spend in December increase by more than 10 percent over last year," CEO Vic Macchio said in the release.

Last December, Dinova’s corporate client spending increased nearly 9 percent over 2012 levels, with a 4.5 percent increase in transaction volume.

"As we look at our month-to-month statistics, and contrast them against overall industry reports, it’s clear that corporate dining has played a prominent role in getting many restaurant categories out of the red," Macchio said. "As the Global Business Travel Association noted in October, companies are continuing to put travelers on the road to achieve their business objectives. Road warriors have to eat, and restaurants are benefiting from the positive business climate we see as the year comes to a close."