New Data from bookings and table management platform, ResDiary, is forecasting an average expected revenue rise of 20 per cent for Australia and New Zealand’s hospitality venues in 2025.
The findings highlight a significant rise in both dining demand and venue openings as key drivers behind the industry’s projected growth and that 76 per cent of owners and operators are expecting to achieve more revenue in 2025. Of those venue operators expecting an increase, the average expected rise is 20 per cent.
Consumers are also backing the data, with 27 per cent of diners planning to dine out more in 2025 than they did in 2024.
Venue owners are also showing more confidence, with 26 per cent opening a venue in 2024, but now 46 per cent are considering opening a venue in 2025.
Louise Daley, General Manager of Hospitality Asia Pacific at The Access Group (parent company of ResDiary in ANZ), welcomed the positive signs emerging in the Australian hospitality market.
“Between food prices, labour costs, increased rents and rates, alongside cost of living pressures, hospitality venues have been suffering for years. Our industry is resilient, and it’s great to see the optimism and the ‘tables starting to turn’ in their favour.
“ResDiary’s latest report identifies some good news for the hospitality industry, but it also identifies some important challenges that these businesses are yet to overcome like the true cost of no-shows,” she said.
No-shows continue to be a major headache for the hospitality industry. Over half of respondents (54 per cent) were impacted by no-shows in 2024, and of those affected businesses, it’s estimated no-shows cost $4,076 per venue. This equates to a staggering $80m estimated loss across the ANZ hospitality industry in 2024.
ResDiary’s data shows that lunch is the most common meal out for diners, with 65% dining out for lunch at least once a month.
With lunch becoming increasingly popular, it’s important for venues to invest in elevating their lunch offerings to capitalise on this trend. Creating a well-curated lunch menu or offering special promotions during lunchtime can help boost daytime traffic and increase overall revenue.
The data also highlights the importance of a smooth booking experience for diners with 38 per cent of customers saying they preferred to make reservations directly through a restaurant’s website. In addition 21 per cent of diners said they would look at a different restaurant if they couldn’t book online, and 14 per cent would disregard the restaurant altogether.