Revenue management in F&B outlets
Workshop leader: Hannes Bos, director of revenue strategy and support, Greater China, InterContinental Hotels Group
Over the past decade, RevPAR has been one of the key hotel benchmark metrics to measure success of a hotel’s commercial strategy. This has remained our industry’s guiding principle, but, in spite of the growing importance of F&B revenues, it has yet to be properly applied to hotel restaurants as well as rooms.
As most markets are in a “buyers market” cycle, average daily rates will only grow progressively. In order to outperform competition, hotels should redefine their F&B strategies to boost future total revenue and bottom line.It is important to shift your existing hotel strategies towards 1:1 revenue management, incorporating CRM principles.
| Advertisement |
In order to drive incremental revenue, at a profit, one needs to truly understand guest stay and consumption behaviour. This requires more in depth analytics on guests than currently extracted from our property management, F&B, reservation and customer relationship systems.
The questions to ask include:
• How many F&B outlets have your in-house guests visited during their stay?
• What meal (breakfast, lunch, dinner, etc) did they have, for how long, with whom, consuming what kind of F&B?
• How does this vary by segment, length of stay and by price point?
Incorporating such insights into your total revenue management strategies will give you a competitive edge, increasing your capture ratios, profit margins and top line room and F&B revenues.
Motivating and retaining staff
Workshop leader: Craig Cochrane, vice president human resources —Middle East and Asia, Mövenpick Hotels and Resorts
Finding and keeping talent is an on-going challenge for the hotel business, so this workshop will bring together GMs to discuss a range of people-related issues. The general manager is the biggest influencer of employee motivation in the business and holds the key to retention.
But what is more important to the GM, policy or people? And do our actions demonstrate this to our teams? Our mantra in the hotel business is that “our people are our greatest asset”… but — often — we would happily let any of them go if it would help secure a piece of short-term business or keep the owner off our back.
On the subject of staff retention, people don’t leave companies, they leave people. Do you know who is causing others to be demotivated in your place of work? How do you recognise the signs?
In this session, GMs will be encouraged to discuss:
• Is working in hospitality in the Middle East viewed as a ‘career’ or ‘just a job’?
• What are the different triggers for motivation and retention?
• Can exit interviews help reduce employee turnover?(I think they are a waste of time.)
Satisfying Savvy Diners
Workshop leader: Aidan Keane, CEO and founder, Keane Brands
I don’t want to waste this opportunity to talk about the local F&B market. I’m seeing it as a really good chance to hear what the hotel GMs think of the F&B offers in their market.
They’re all travelled men and women, and so what do they honestly think of it — outside of the corporate bubble? What do their guests think? Is the F&B up to scratch or is it just a bunch of fakers asking full price for copies?
I’d also like to ask the GMs about design and get to the bottom of why every hotel restaurant looks like it was all designed by the same company one busy afternoon in 2006. It should be a great session for everyone in the room.
Search our database of more than 2,700 industry companies
