Steaks could cost more on weekend if dynamic pricing becomes normal practice, restaurant chief says
Jeremy King, whose establishments have included Le Caprice and The Wolseley, said that while he was personally 'really uncomfortable' with the practice, he admitted it was 'fair' for restaurants to sell tables to customers willing to spend a certain amount of money.
Dynamic pricing is the practice of changing the cost of a product or service depending on demand.
It came under fire after Oasis tickets were sold under the practice, leading to a slew of complaints from customers who felt they were overcharged.
King, 71, told the Go To Food podcast: 'I don't begrudge the restaurants, for instance, which are using the apps to sell tables in advance because they've got fed up with people who book months in advance and then spend the entire meal taking photographs of themselves and of the food, ordering the absolute minimum they can just so they can put it on social media.
'So hold the tables back and those restaurants that say if you're willing to pay £200 we have a table for you on a Saturday, I think that's fair.
'I don't like the encroaching dynamic pricing whereby your steak is going to cost more on a Saturday night than it is on a Monday night, that makes me really uncomfortable but that's coming through. We've already seen it in the theatre.'
Earlier this year, King gave diners who went to two of his restaurants, Arlington and The Park, a 25 per cent discount if they ate after 9pm in order to encourage later dining times.
In February, Disney came under fire after it said that tickets to its American theme parks would jump with demand under a new dynamic pricing plan.
Currently, entry to Walt Disney World in Orlando and Disneyland near LA is priced based on pre-set peak and off-peak dates.
Under the expected plan—already rolled out at Disneyland Paris—ticket prices at the US parks will fluctuate in real-time based on demand.
The new scheme —which would cause huge variations in price —could be introduced by the the end of March, Richard Greenfield of closely-watched Wall Street researchers Lightshed Partners said on Friday.
Disney fan Jasmin Guevara, who lives in LA and regularly visits Disneyland in nearby Anaheim, said: 'Does Disney have no shame?
'It has jacked up prices time and time again in the past few years. This will just be another way to squeeze even more money out of me and my family.'
Greenfield, respected investor and analyst, explained the timing. He wrote: 'Given the early success of Disneyland Paris' pricing strategy shift, we expect Disney to announce it is moving to a similar airline-style, dynamic pricing plan in the US later in Q1 2025.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Geeky Gadgets
3 minutes ago
- Geeky Gadgets
The BRABUS ROCKET GTC Deep Red Is Absolutely INSANE!
The BRABUS ROCKET GTC DEEP RED is a groundbreaking open-top hybrid supercar that pushes the boundaries of luxury and performance in the automotive industry. This masterpiece of engineering and design seamlessly blends the raw power of a hypercar with the exhilarating freedom of a cabriolet. Meticulously crafted entirely from red exposed-structure carbon fiber, the ROCKET GTC DEEP RED is a testament to BRABUS' unwavering commitment to their '1-Second-Wow' philosophy, captivating onlookers with its striking visual presence and unparalleled performance capabilities. At the heart of this automotive marvel lies a hybrid drivetrain that generates an astonishing 1,000 horsepower, solidifying its position as one of the most powerful BRABUS vehicles ever conceived. The ROCKET GTC DEEP RED's performance figures are nothing short of extraordinary, with a blistering top speed of 317 km/h (197 mph) and the ability to accelerate from 0 to 100 km/h (62 mph) in a mere 2.6 seconds. This unrivaled combination of speed and agility transforms the act of driving into an immersive and unforgettable experience, redefining the very essence of what a supercar can achieve. The ROCKET GTC DEEP RED's hybrid powertrain not only delivers exceptional performance but also showcases BRABUS' commitment to embracing innovative technology and sustainable innovation. By harnessing the synergy between a potent internal combustion engine and an advanced electric motor, this hybrid system optimizes power delivery while reducing environmental impact. This forward-thinking approach positions the ROCKET GTC DEEP RED at the forefront of the automotive industry's shift towards eco-friendly performance vehicles. Bespoke Craftsmanship and Exclusivity Each BRABUS ROCKET GTC DEEP RED is a bespoke creation, carefully crafted to the exact specifications and preferences of its discerning owner. This level of customization ensures that no two ROCKET GTC DEEP RED models are alike, making each one a true reflection of its owner's unique style and personality. From the handcrafted red leather interior with BRABUS' signature 'Shell' quilting to the carbon fiber accents that adorn the cabin, every element of the ROCKET GTC DEEP RED is a testament to the brand's unwavering dedication to craftsmanship and attention to detail. The exclusivity of the ROCKET GTC DEEP RED is further emphasized by its limited availability. With only a select few models produced, owning this hyper GT is a privilege reserved for the most discerning collectors and automotive enthusiasts. The scarcity of this masterpiece not only adds to its allure but also ensures that it will remain a coveted and cherished possession for generations to come. Pricing and Availability As a bespoke creation, the BRABUS ROCKET GTC DEEP RED's pricing is available upon request, reflecting the uncompromising level of craftsmanship, engineering, and customization that goes into each vehicle. The exclusivity of this hyper GT is carefully maintained, with limited production ensuring that each model remains a rare and sought-after collector's item. Specifications Engine: 4.5-liter twin-turbo V8 hybrid system 4.5-liter twin-turbo V8 hybrid system Power Output: 1,000 hp (735 kW) 1,000 hp (735 kW) Torque: Electronically limited to 1,620 Nm (1,195 lb-ft) Electronically limited to 1,620 Nm (1,195 lb-ft) Transmission: Nine-speed sport transmission with paddle shifters Nine-speed sport transmission with paddle shifters Top Speed: 317 km/h (197 mph) 317 km/h (197 mph) Acceleration: 0-100 km/h (62 mph) in 2.6 seconds 0-100 km/h (62 mph) in 2.6 seconds Wheels: BRABUS Monoblock P 'PLATINUM EDITION' five-spoke wheels BRABUS Monoblock P 'PLATINUM EDITION' five-spoke wheels Tires: Continental SportContact 7 (275/35 ZR 21 front, 335/25 ZR 22 rear) Continental SportContact 7 (275/35 ZR 21 front, 335/25 ZR 22 rear) Body Material: Red exposed-structure carbon fiber Red exposed-structure carbon fiber Interior: Handcrafted red leather with BRABUS 'Shell' quilting and carbon accents Handcrafted red leather with BRABUS 'Shell' quilting and carbon accents Exhaust System: BRABUS stainless steel with active valve control Explore More Automotive Innovations For automotive enthusiasts captivated by the groundbreaking engineering and design of the BRABUS ROCKET GTC DEEP RED, there are numerous avenues for further exploration and discovery. The rapid advancements in hybrid technology, for example, offer fascinating insights into the future of high-performance vehicles, as manufacturers seek to balance power, efficiency, and environmental responsibility. Similarly, the evolution of carbon fiber in automotive design has transformed the way cars are constructed, offering unparalleled strength, lightweight properties, and aesthetic appeal. Another area of interest for those drawn to the ROCKET GTC DEEP RED is the growing trend of bespoke luxury vehicles. As discerning clients increasingly seek out unique and personalized automotive experiences, brands like BRABUS are pushing the boundaries of customization, creating one-of-a-kind masterpieces that reflect their owners' individual tastes and preferences. This focus on exclusivity and craftsmanship has elevated the art of automotive design to new heights, ensuring that the world of high-performance cars remains a constant source of innovation and inspiration. Source Brabus Filed Under: Auto News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
The Independent
3 minutes ago
- The Independent
Would a new property tax be electoral disaster for Labour?
For many months, ministers have been curiously coy about whether they would introduce a ' wealth tax '. It was previously flatly denied and was not mentioned in the manifesto. Yet more recently, from Sir Keir Starmer down, there's been a refusal to comment. Now, perhaps, we know why: a conscious leak from the Treasury suggests Rachel Reeves is contemplating reforms to stamp duty and council tax that would amount to a new property tax. Apparently, the chancellor has briefed cabinet colleagues about the project and they are gauging public reaction. If implemented, it would be a politically brave move. What does the chancellor want? There are few details, but Reeves's idea seems to be to levy a new tax on homes worth more than £500,000 with, most likely, some adjustments to council tax and stamp duty at all levels of the property market. This new levy would replace stamp duty on owner-occupied primary residential homes (second and rental homes being treated differently already). A further annual local property tax would be added, based on an updated estimation of relative property values; this would replace council tax. When does she want it? A new national property levy could replace stamp duty in this parliament. A wholesale reform of local government finance, including a transition from council tax to local property tax and a valuation of every single home, would take years. Reportedly, that would be for Labour's hoped-for second term. Why is it being considered? Reeves is desperate for new sources of tax revenue that won't violate the manifesto commitment not to raise rates of income tax, employee national insurance and VAT. That doesn't leave much, even with income tax and NI thresholds frozen. Some researchers estimate the 'black hole' in the government's budget could yawn to about £40bn a year by the end of this parliament – way more than the current level and beyond what fiscal rules and the markets would tolerate. Is a property tax a good idea in any case? Yes, in the sense that the British approach to taxing wealth is completely irrational. Unlike any other asset – rental properties, shares, artworks, businesses – the value of a main home is untaxed, nor are any capital gains derived from moving up the property chain. That badly distorts against investment in productive capital and in favour of consumption, and thus blunts productivity growth and living standards. The resulting concentration of wealth as it cascades down the generations with minimal inheritance tax is driving a steadily more unequal society. Would a new property tax be a wealth tax? Yes, but it might be presented as a fairer and more rational version of the wealth taxes we already have: council tax, stamp duty, capital gains tax and inheritance tax. But it would suffer from the same drawbacks as council tax (and, to a lesser extent, stamp duty) in that it is almost completely unrelated to ability to pay. Someone lucky enough to live in what is now a very valuable home, but who has a small income in retirement, couldn't afford an annual tax bill and would have to borrow against or sell their home (although the tax could be deferred until death and deducted from the estate at probate, making it effectively a hike in inheritance tax). It would also favour the wealthy few whose money is tied up in several properties or businesses because they would only be liable on the first property as a main home; a 'proper' and efficient wealth tax would treat all kinds of assets neutrally. A more sensible approach to local government finance might be a local income tax – a policy idea adopted in Scotland by the SNP government in 2007 but later abandoned – and a more sensitive way of transferring money from richer areas to poorer ones. At the moment, council tax rates vary considerably between different areas, and about a fifth of local government funding comes from the Treasury out of central taxation. How much might it be? Anyone's guess, but most likely unrelated to wages or other income. The centre-right think tank Onward, which last year came up with the original paper that inspired the Treasury, suggested that owners, rather than the residents, of a property worth up to £500,000 would pay various tiered rates of national and local property tax dependent on the value of their home. They would pay a minimum of £800 a year directly to their local authority, but who knows what living in a £2m townhouse would set you back. How would it play politically? Disastrously. Any such reform necessarily creates winners, who are electorally ungrateful, and losers, who are highly resentful. The last time such a change was attempted was when the 'rates' were abolished in the late 1980s to make way for the flat rate per-person poll tax, triggering a riot, mass non-payment, and ultimately contributing to the fall of Margaret Thatcher. Vast accidental disparities in individual liabilities rendered the poll tax impractical and indefensible; it took some years and much cost to the Treasury to move from the poll tax to the current council tax regime with its various reliefs and exemptions. Memories of that painful episode mean no government has dared to touch property taxation besides fiddling around the thresholds. By making the plan part of the next Labour manifesto, but without much detail about who would pay and how much they'd pay, paranoia about the new tax would run rampant. Inheritance tax, which very few estates actually pay, is almost universally hated, and so would be a new 'Labour wealth tax'. It would be regarded as a 'tax on aspiration'. Whisper it, but some of the 'working people' that Labour has solemnly pledged to protect own their own homes, and it is their sole source of wealth. Some imagine they will one day have a £1m house; they may already do if they live in London. Even with her proven record of poor political judgement, it is hard to understand what Reeves is playing at. At best; she is being pushed around – again – by Treasury civil servants who care nothing about politics; at worst, she's become a little too crazed about fiscal rectitude.
The Sun
4 minutes ago
- The Sun
Top 10 best-selling cars of 2024 in the world revealed as hybrid SUV roars into lead dethroning Tesla
THE world's top 10 best-selling motors of 2024 have been revealed with a hybrid SUV taking top spot - dethroning Tesla in the process. Elon Musk's US-based manufacturer of stylish EVs has taken the industry by storm in recent years with both the Model Y, the leader in 2023, and the Model 3 becoming big sellers in both the UK and the wider world. But as reported by Autocar, it was a model from a more traditional car brand that claimed the coveted top gong; the Toyota RAV4. This renowned compact SUV, now available with a hybrid option, emerged as the best-selling car of 2024 - shipping the most units worldwide. Indeed, the top 10 list outlines Toyota's dominance last year, with the Japanese giants boasting five models on the list. EVs, like those built by Tesla and ever-growing Chinese maker BYD, continue to gain market share, but cars with internal combustion engines still dominate, contrary to some predictions. It's also worth noting that many models rely heavily on specific markets for their sales, such as the Toyota Camry in the US and the BYD Qin in China. 10. BYD Qin - 502,000 (+6%) A huge hit in its native China, the Qin, which is classed as a compact saloon, is available as both a plug-in hybrid and as a full EV. Not seen one on the road? It's hardly surprising, as nearly all of its sales were made in China - with only a few exported overseas. The Qin's popularity is likely down to its affordability, making it an good option for many buyers, while it also benefits from BYD's growing reputation for reliability and innovation. 9. Tesla Model 3 - 560,000 (+10%) The world famous electric saloon, loved for its style and class, rose up the order - going from 10th spot in 2023 to ninth overall in 2024. Watch Tesla test self-driving cars on London streets & Swindon's 'Magic Roundabout' Available with an electric powertrain only, the Model 3 is a big hit in the world's key markets; North America, Europe and China. The Model 3 also underwent an impressive facelift in 2023, complementing its already strong use of EV tech and affordability within the premium segment. 8. Toyota Camry - 593,000 (-8%) A reliable favourite in the US, the Camry - a mid-size saloon that comes with either an ICE or hybrid - also sells well in Asia and Australia. It's known as a beacon of both reliability and comfort, although its sales dropped by 8% last year - highlighting the dominance of SUVs and EVs. 7. Ford F-150 – 595,000 (-2%) 10 The world's most iconic pick-up continues to fly off dealership lots, driven by a loyal customer base who value its reliability and versatility. Its popularity was also helped in part by its variety of powertrains, including ICE options, hybrids and even electric - with the F-150 Lightning. It remains a staple in the US market, although it did suffer a sales decline of sorts (-2%), perhaps suggesting an increase in competition. 6. Toyota Hilux - 617,000 (-15%) Generally smaller than the F-150, the Hilux, which can be bought with an ICE option only, is a global sensation with particularly strong sales in Africa, Australia and South America. It's a dependable workhorse, known for its durability and off-road capability, but perhaps it's starting to pay the price for its insistence on petrol power - judging by its 15% sales decline. 5. Toyota Corolla - 697,000 (-11%) Widely recognized as the best-selling car model of all time, the Corolla continues to be shifted all over the world with strong sales in Asia and Europe particularly. Featuring both an ICE and hybrid powertrain, the Corolla remains a favourite due to its reliability, fuel efficiency and recently introduced hybrid options. However, as previously mentioned, its 11% sales drop likely reflects a shift away from traditional saloons and hatchbacks, toward SUVs. 4. Honda CR-V - 854,000 (+1%) Honda's wildly popular compact SUV is its only entry on the list - but the brand will be buoyed by a small rise in sales numbers in 2024. A hot favourite in the US - which accounted for more than a half of total production in 2024 - it also sells well in Asia and Europe. Indeed, it's loved across the globe for its reliability, spacious interior and hybrid options, which makes it one of the most popular options for families. 3. Toyota Corolla Cross/Frontlander - 859,000 (+18%) It's all about Toyota, isn't it? One of the brand's biggest sellers in recent times is the Corolla Cross, which is also known as the Frontlander, which enjoyed a mighty sales increase in 2024. The compact SUV blends practicality and affordability, making it a favourite among drivers in the US and Asia in particular. It also offers buyers an ICE, hybrid or plug-in hybrid engine - giving it a major boost in efficiency. Its comfort and space, as well as Toyota's well-renowned reliability, clearly makes it a strong contender in the hugely competitive small SUV market. 2. Tesla Model Y - 1,185,000 (-3%) The former chart-topper, the Tesla Model Y, now finds itself settling for second-place. Another global favourite that sells strongly in North America, Europe and China, the compact crossover SUV has been a revelation in the EV industry. Despite many seemingly being put off by Musk's antics over the last 12 months, not to mention growing competition from Chinese EV manufacturers, drivers are still drawn to the Model Y for its cutting-edge tech, impressive range and Tesla's Supercharger network. 1. Toyota RAV4/Wildlander - 1,187,000 (+11%) The world's favourite compact SUV enjoyed a massive sales boost in 2024 - in no small part due to the success of its Chinese iteration, the Wildlander. Perhaps the strongest selling point for the RAV4 though is how consumers know what they're getting, with the long-time model beloved for its versatility, reliability and hybrid options. What's more, it's known for its strong resale value, with owners reporting fewer issues with the RAV4 compared to other SUVs. And any repairs needed are often minor and resolved quickly, according to What Car?. US-based car expert Scotty Kilmer recently heaped praise on the RAV4, highlighting it as one of his top recommendations for a reliable second-hand motor available for under £10,000.
