Dinova and Technomic Publish Q2 2022 State of Business Dining Report

Dinova Inc., the authority in business dining, and Technomic, the leader in food service insights, released today the Q2 2022 Business Dining Report covering the top trends including the work from home debate, resurgence of in-person events and impact inflation will have on consumer spending behavior.

“The restaurant industry has gone through a period of disruption unlike anything we at Technomic have seen and significant headwinds continue on with inflation as a top concern,” stated David Henkes Senior Principal and Head of Strategic Partnerships at Technomic. “As consumer traffic starts to soften with the imminent economic changes, we expect business dining to continue to grow and accelerate.”

By incorporating Technomic’s comprehensive restaurant data for context, this report highlights where business dining behaviors, recovery and trends compare to the consumer market. A few key findings include:

• The Global Business Travel Association April 2022 online poll reveals 9 in 10 (94%) of travel managers said their company’s employees were ready work travel.
• 88% of travel managers and suppliers also said their corporate travel bookings had increased over the past month.
• As many workers continue to work remotely, business dining spend is more distributed and less limited to major metropolitan areas.
• San Francisco market lags far behind Los Angeles, among the healthiest business dining markets, in terms of recovery.
• Stalled return-to-office plans could be to blame for New York’s sluggish recovery.
• By the end of the year, the Business Dining Index could reach 96 — its highest point since before the pandemic, just 4 points shy of a full recovery.

“We want to equip restaurants with data to stay ahead of the curve. This report offers a unique glimpse into different facets of the coming rebound and what the industry can expect going forward,” says Alison Quinn, CEO of Dinova.  “We will continue to monitor and report on the impact of remote and hybrid work, but our analysis is showing an uptick in business travel and progress for full recovery in business dining sales by end of year.”

By comparing Technomic’s quarterly foodservice data to Dinova, which looks specifically at business dining recovery, the report unveils how business dining recovery compares to overall recovery. The full report can be found here: www-beta.dinova.com/dining-report