Dinova’s Corporate Clients Record Five Percent Dining Increase in Third Quarter
Dinova LLC, the leading provider of corporate dining spend management services for restaurants and companies, shared a range of third-quarter statistical results today. Year-over-year spending by corporate clients at Dinova’s 10,000+ network restaurants increased 74 percent, reflecting growing use of network restaurants by existing clients as well as the ongoing additions of restaurants and companies to Dinova’s program.
The company hit a milestone in November, as several client additions propelled Dinova’s cumulative dining spend under management beyond $1 billion. Dinova corporate clients increased their restaurant spending by five percent in the third quarter, a figure which parallels growth results announced by airlines, hotels, and travel management companies in recent weeks. The five percent number also dovetails with the initial report of 2.8 percent GDP growth by the U.S. Bureau of Economic Analysis.
Per-check spend by Dinova clients increased 3.2 percent in the third quarter to $49.98, reflecting a willingness by company employees to spend more entertaining clients and prospects. Dinova anticipates the per-check figure to rise in the fourth quarter, as companies typically host clients and employees at holiday events.
With dining spend representing the third-largest corporate travel expense – more than twice the size of car rentals – Dinova’s unique restaurant rebate program for companies is gaining momentum with both large and small firms. One quarter of America’s highest travel-spending firms have joined Dinova, with more than half of those signings taking place in the past year. Dinova’s client base includes more than two million corporate credit card holders.
“Corporations save millions of dollars by managing preferred relationships with all kinds of suppliers, from office furniture vendors to international airlines,” said Vic Macchio, Founder and CEO of Dinova. “It only makes sense that they leverage that same methodology to get maximum value from their dining spend.”
Dinova corporate clients in multiple vertical markets are clearly deploying tactics to drive road warriors and office-based employees to preferred restaurants in Dinova’s network. Comparing monthly Dinova figures from January 2013 to September in select client groupings, the growth is striking:
- Financial Services up 63 percent
- Building / Construction up 64 percent
- Retail up 106 percent
- Oil / Gas up 107 percent
- Technology up 284 percent
“Corporations are getting more aggressive as the economy begins to see daylight; they are increasingly active in courting new customers and expanding relationships with existing clients,” said Macchio. “Despite the many hi-tech communications means we all use today, there is still no substitute for sharing a meal with someone to cement a relationship. With the government shutdown behind us and the holiday season on the doorstep, we’re optimistic that both Dinova clients and restaurant partners will build upon the third quarter’s success in the weeks ahead.”
Dinova LLC (www.dinova.com) connects restaurants and corporations in a nationwide network, driving valuable business dining to restaurants and enabling corporations to reduce travel and entertainment expenses. Automation makes the process seamless to both diner and restaurateur, with no loyalty cards or key entries required. Dinova is headquartered in Johns Creek, GA, a suburb of Atlanta.