Hot on the heels of our appearance and subsequent dialogues with Owners and Investors at #IHIFEMEA2024, it became even more apparent to us that a real “call to action” is required by operators, who might just be “looking for love in all the wrong places” as it relates to “optimizing” F&B at their properties. As we navigate the complexities of the post-pandemic world, the focus on optimizing food and beverage operations has never been more crucial.
In the realm of hospitality, particularly in hotels and resorts, our F&B services stand as a cornerstone of guest experience and financial performance. Today, I’ll outline a dual approach to refine these operations: enhancing revenue and controlling costs.
Firstly, driving revenue in F&B doesn’t merely hinge on increasing prices (the typical strategy is to drive PPA) or footfall. It involves reimagining our offerings and service models to create exceptional, memorable dining experiences that encourage repeat business and positive reviews. From leveraging technology like digital menus and online reservations to hosting unique culinary events, we aim to attract a broader clientele and boost our average per-customer spend which, with the proper strategy, can easily be done in ‘outlets’ and M.I.C.E.
On the cost side, and most importantly, we’re aware of the rising challenges in managing labor expenses, the most significant controllable cost. In these times, it’s imperative to ‘do more with less.’ This means adopting more efficient operational techniques, like cross-training staff to perform multiple roles, enhancing scheduling efficiencies, and integrating automation where feasible to streamline service without compromising quality.
Our goal is to ensure that our F&B services are not only a value add but a profit center that stands resilient in the face of economic shifts. We are excited to explore these strategies with you and adapt to the evolving market demands.
Let’s discuss these opportunities further and work together to set a new standard in hospitality excellence.
