Madrid AOHIS 2024
it was great to attend the AOHIS event in Madrid this week in the shadow of the Bernabeu Stadium. It presented great networking with hospitality peers working in different geographies. It is clear from the discussion leaders and panel events that the same hospitality hot spots and pinch points are impacting the industry worldwide. One main theme that dominated were the challenges in the Food & Beverage (F&B) sector. Food and Beverage is an important part of Irish hotels and can be 50% of revenues in some properties.
According to Hotstats, the US, France, and Benelux regions are feeling the greatest pain here in relation to F&B profitability. Procurement is now recognized as a critical component of hotel management strategies to deal with the profitability erosion seen in F&B operations.
Moreover F&B operations should be analysed in a similar way to rooms such as reviewing the data, analysing what segments are filling your outlets, what level of in-house capture you are achieving and at what rate. Understanding the make-up of your F&B revenues and then using this information to plan staffing levels, outlet opening patterns , and to drive higher revenues and profitability is important in a department where profit is tight.
Congrats to the AOHIS Team for organising a fantastic event.