In 2013, there were 124 Michelin-starred restaurants in the UK. Now, in 2023, there are 188. This represents an increase of 51% over the last ten years, brought about by a number of factors:
- Increased investment in the hospitality industry. The UK has seen a significant increase in investment in recent years. This has led to the opening of new restaurants and the renovation of existing restaurants and hotels.
- A growing food culture. The UK has a growing food culture, with people becoming more interested in trying new and exciting cuisines. This has led to a demand for high-quality restaurants.
- A diverse range of chefs. The UK has a diverse range of chefs from all over the world. Helping to further the expansion of this sector.
So while this sector has been growing, and indeed there are long waiting lists for reservations due to their notoriety, how can it benefit from stronger digital programmes?
We have worked with some of the most prestigious restaurants and hotels across the world and the key focus for this sector is growth!
This is not exclusively reserved to the Michelin star sector; it has applications across all high-end hospitality.
Growing the digital and commercial offering in luxury hospitality
While the bookings might look strong and the covers have a handsome occupancy rate, the limiting factor is always the size of the venue.
1. Developing the lifetime value (LTV) of the audience
A strong CRM and value exchange programme may not push direct sales, but it nurtures the customer base and re-engages them to develop the lifetime value of the client base.
We know that luxury consumers want to understand the story, history, and pedigree of these exclusive brands. So while they’re not visiting the venue, you can elevate the brand through key content that pushes a value exchange, for example, around a new menu or wine list.
Perhaps you have a celebrity chef coming in for a guest appearance or a story to tell about how a small, family-run restaurant in Paola, southern Italy, inspired your new pasta dish.
With robust analytics integration, each of these initiatives can be used to collect data and further understand your audiences’ preferences.
2. Creating products for the online sector
A number of high-end hospitality brands have recently developed an online product range to further promote the lifestyle their brand is associated with. This includes kitchen knives, cutlery, crockery, and ingredients etc. While other brands have taken this a step further to offer delivery and ‘cook it at home’ services. A lucrative way to drive greater revenue and expand the types of luxury customers the brand engages with.
We work with luxury restaurants and hotels to understand the needs of their CRM, analytics, ecommerce, social, and performance media to support these opportunities and help facilitate their expansion.
If you would like to know more about this, or any of our other services, please don’t hesitate to get in touch.