Three 'D's: Dirty Dining, Disrespectful Dishes, Dangerous Dinners

Three 'D's: Dirty Dining, Disrespectful Dishes, Dangerous Dinners

Welcome to this week's issue of our newsletter, where we delve into the significance of data-driven decision-making in the hospitality industry.

The term "Triple D," which has been a focus for us this week, may initially bring to mind television shows or professional wrestling moves. However, in the context of our newsletter, "Triple D" is none of the above. It instead stands for "Data-Driven Decision-Making" - a mindset that is increasingly crucial for the hospitality sector.

According to Wikipedia, data-driven decision-making is a process that Educators utilize to collect, analyze, and use different types of data in order to improve the educational process. As federal and state test-based accountability policies have grown, this approach has become particularly relevant, allowing educators to recognize problems, pinpoint who is affected, and work towards meaningful improvements.

In our recent Hospitality Hangout podcast, we had a superb conversation with Scott Redler, Founder of Redler Hospitality and Co-Founder of Freddy's Frozen Custard. Scott emphasized the importance of his "Triple D Strategy," a commitment to data-driven decision-making that significantly contributed to the growth and success of Freddy's, eventually resulting in its sale to Thompson Street Partners.

As our podcast was recently recognized by the International Hospitality Institute as one of the Top 40 Hospitality Podcasts, we'd like to take this opportunity to express our gratitude for the recognition. Although we may not be ranked number one, "if you're not first, you're last" - as Ricky Bobby's father might say.

For hospitality operators, embracing data-driven decision-making can greatly enhance their ability to tackle challenges and capitalize on opportunities. By utilizing data & analytics, an operator's instincts, experience, and gut feelings become stronger and more reliable.

However, it's essential to find the right balance between relying on data and blindly following it. After years in the financial and capital markets, it's clear that data & analytics alone are not infallible, but neglecting them can lead to poor decision-making.

The hospitality industry has historically relied on instincts and experience, but the digital transformation now in progress is revolutionizing the landscape. Those that embrace technology and innovative data solutions can reap substantial benefits.

In an industry where guest preferences and market trends change rapidly, the data flowing through the hospitality industry can be a valuable source of insights. By leveraging pooled data from a larger dataset, hospitality groups can become more agile and adapt to trends more quickly. Indeed, in a business where the food and people are the main focus, data-driven decision-making may well be the silver medal winner when it comes to valuable data sets.

Branded's operator-centric investment strategy prioritizes identifying technology & innovation platforms that aid operators in addressing their pressing challenges and opportunities efficiently. We are currently focusing on and investing in data & analytic companies that are striving to be allies to operators (and those selling into the industry).

The vast majority of the restaurant industry is comprised of small and independent businesses, which often lack the resources for data collection or the capability to work with complex datasets. However, there are companies emerging that are simplifying the process and making actionable data accessible to these businesses.

The hospitality industry will always be about food and people, but the digital transformation underway is only gaining momentum. By adopting a data-driven mindset and utilizing technology & innovation, operators can compete more effectively and grow their businesses.

If you're an operator or a vendor and would like to explore how data could generate incremental value for your business, we invite you to reach out. Our team is here to help foster connections with platforms that can make a real difference in your operations.

Finally, we would like to draw your attention to an article by our portfolio company, Brizo FoodMetrics, which discusses mastering foodservice prospecting with advanced market intelligence. As a source of truth for the foodservice industry, Brizo's insights can help you streamline your sales strategy and increase your conversion rate. For more information, we encourage you to read the article or reach out to us directly.

That's all for this week's issue! Stay tuned for more insights, and as always, thank you for being part of our community!

Best regards,Jimmy FrischlingBranded Hospitality [email protected] Park Ave South, 4th FlNew York, NY 10003

Branded Hospitality Ventures is an investment and advisory platform at the intersection of food service, technology, innovation, and capital. With our industry expertise and valuable connections, we work to add value to our portfolio companies through investment, strategic counsel, and deal-making. Learn more about Branded here: Branded At-A-Glance.

1. In their recent podcast, Branded Hospitality Ventures discussed the importance of data-driven decision-making in the food-and-drink industry with Scott Redler, Founder of Redler Hospitality and Co-Founder of Freddy's Frozen Custard, who highlighted his Triple D Strategy.
2. According to Branded's newsletter, hospitality operatorscan significantly enhance their ability to tackle challenges and capitalize on opportunities by embracing a data-driven mindset and utilizing data & analytics, which strengthen an operator's instincts, experience, and gut feelings.
3. The digital transformation underway in the hospitality industry is revolutionizing the landscape, and those that embrace technology and innovative data solutions can reap substantial benefits, as illustrated by the growth and success of Freddy's, which was sold to Thompson Street Partners due to its data-driven decision-making strategy.
4. Branded Hospitality Ventures is currently focusing on and investing in data & analytic companies that aim to be allies to operators and vendors in the food service sector, making actionable data accessible even to those businesses with limited resources for data collection or the capability to work with complex datasets.

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