Dinova LLC reported that spending by corporate clients at Dinova’s 10,000+ network restaurants grew 67 percent in 2013, resulting from increased use of network restaurants by existing clients and the addition of many restaurants and corporations to Dinova’s program. Dinova’s full year and fourth quarter results showed that corporations of all sizes spent more at restaurants, with midsize companies outpacing large firms in the rate of increase.
Nearly 150 OnThe Border locations joined the Dinova LLC(www.dinova.net) restaurant network in November 2013.Dinova (www.dinova.com) connects restaurants and corporations in a nationwide network, driving business dining to restaurants and enabling corporations to reduce travel and entertainment expenses. “More restaurants focused on the lucrative corporate dining segment in 2013, contributing to a watershed year for the company,” said Dinova Founder and CEO Vic Macchio. Highlights from 2013 include:
The company’s dining network more than doubled, as Dinova added 365 independent restaurant locations and six major nationwide chains.
On the corporate client side, Dinova’s dining spend under management grew 55 percent. The company’s cumulative dining spend under management now exceeds $1 billion. The client roster now includes one quarter of America’s 100 highest travel-spending firms.
Dinova clients raised awareness of in-network dining options and altered buying behavior; clients spent 20 percent more at network restaurants in 2013 than in 2012.
The fourth quarter of 2013 was encouraging for restaurants that count on corporate guests, especially during the holiday season. Year-over-year, Dinova clients cumulatively spent 7.3 percent more than in 2012, driven by a three percent increase in average check total and a 4.3 percent increase in transaction volume. In December, clients spent nearly nine percent more than in 2012, with a 4.5 percent increase in transaction volume.
Dinova’s fourth quarter 2013 corporate dining spend data reveals that midsize companies are spending more entertaining clients, prospects, and staff. Separate from the large multi-national firms, Dinova’s midsize clients cumulatively increased their dining spend by 13 percent year over year, with transaction volume up nine percent.
While the largest firms did not record upticks of that size, bigger companies are spending more and more often – at restaurants. Dinova’s clients in the Business Travel News Corporate 100 spent 4.4 percent more than they did a year ago, driven by a 2.7 percent increase in transaction volume.
Posted by Cynthia Le