Business Dining Marketplace Surpasses $7 Billion in Spend

Dinova, Inc., a business dining marketplace, is celebrating another year of positive growth with the release of its 2017 results. Significantly, Dinova reports that its annual business dining spend under management surpassed $7 billion in 2017, a milestone for the nine-year-old startup. This increase comes on the heels of a great fourth quarter, in which overall spending through the company’s marketplace increased 24% over Q4 2016. For the year, the number of transactions in the entire Dinova marketplace increased by 22% compared to FY2016.

Business dining is the third largest travel and entertainment expense category for enterprise and small to medium sized businesses, and it’s the most under-managed. Dinova companies seek to harness this expense category by participating in the program. Aptly, in Q4 2017, Dinova’s enterprise accounts saw a 17% increase in marketplace spend and participating restaurants saw a 6% increase in average check size.

While the restaurant industry at large saw little growth in the first 3 quarters of 2017 and a small uptick at the end of the year, it still wasn’t a good year overall. In contrast, Dinova partner restaurants saw increased traffic throughout the year from a 20% increase in marketplace spend. This boost is a product of continued adoption of Dinova’s program among corporations, and giving restaurants access to proprietary channels that would otherwise not be available.

“Surpassing $7 billion in annual business dining spend influence is tremendously exciting for us,” said Vic Macchio, CEO and founder of Dinova. “In this $60 billion industry, we are confident that our marketplace – and our ability to shine a spotlight on the value of business dining – will only continue to grow.”