??Why your F&B leaders should shadow your Revenue Manager.
Scot Turner
Rewriting the Rules of Hotel F&B | Founder of Award-Winning Auden Hospitality | Podcast Host | Keynote Speaker
It’s time for Food and Beverage leaders to adopt a new mindset to drive their performance – one inspired by their Revenue Manager counterparts.
By approaching F&B operations with a yield management perspective, they can tackle challenges head-on and unlock a world of opportunities.
My tip for this week, find time for them both to spend time together to talk about how room management works.
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So often, these are the pain points I see in hotels when it comes to F&B;
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Fluctuating Demand:
Hotels often grapple with unpredictable demand, making it difficult to forecast properly and causing issues with productivity.
Competing with External Options:
Restaurants outside the hotels are often the first choice for guests, making it challenging to attract and retain them in house. ?
Maximising Revenue: Traditional approaches may limit revenue potential especially when digital tools aren’t realised to their potential
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It doesn’t have to be this way because thinking Like a Revenue Manager can lead to a far more strategic mindset that can maximise the opportunity that is presented in under-utilised outlets.
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See why in the list below;
Demand Forecasting:
Adopt demand forecasting to prompt you to analyse historical data and predict trends that may occur, this could be special events, days of the week or simply meal periods.?
Yielding Covers:
How can you yield your inventory better? This can happen in a number of ways but in particular, utilising your reservation system to optimise turn times, seating policies and policies.
Utilising Third-party Engines:
Leverage online reservation platforms to increase visibility and attract a broader customer base as well as using them to create demand through tactical activations to drive volume.
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Data-Driven Decision-making:
Personalisation is key in today’s world, you have to find ways to target the right messaging, at the right time, to the right people.? By making comms more focussed, you are likely to see a stronger engagement.
If your F&B Manager/Director needs support with these points, drop me a note at [email protected] and we can help them develop a measurable plan to implement these successfully.
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The best Revenue Managers I have worked with have been able to control their destiny through strategic management of their inventory, F&B Managers should be no different, this is why:
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Increased Revenue
Enhanced Guest Experience
Cost Efficiency
Competitive Advantage
Adaptability
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In a world where competition is fierce and customer expectations are ever-evolving, F&B managers have to embrace a different mindset
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Because Fine margins are becoming the new way to grow your business and optimise your operations.
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That’s all for this week, see you next time.
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Scot ???
Learn how we challenge hoteliers to think differently at Auden Hospitality by visiting our website www.audenhospitality.com
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Hospitality Management Professional. Food and Beverage Manager at PARKROYAL, Monash
6 个月If only F&B services used to deliver amenities, serve ENT guests, turning over event spaces for non revenue events, 24 hrs room service, all day dining and bar services etc avoided and use F&B operations to serve only revenue generating meal periods and services ( like free standing restaurants) RevPASH and such concepts would make sense. Besides, at least 40% of F&B operations cost must be absorbed into rooms operations revenue. Similar to cost of linen, housekeeping and maintenance comes under accommodations. Because F&B operations make up the larger part of the hotel product. F&B augments and supports room-product. Can the rooms of a 4 or 5 star be sold without room service, all day restaurants, lounge and bars, free breakfast and meals for service recovery, entertaining sales events, etc? The Concept of True-Cost must be applied. I am curious to hear new insights.
Transforming Human Engagement through Conscious Hospitality | Helping Businesses Create Authentic Connections that Lead to Higher Levels of Loyalty, Performance, and Success
6 个月A great tip and suggestion. Speak to the wonderful Kate Buhler (She/Her) and you’ll quickly realize everyone on the team should be a Revenue Manager!
Lets talk about your Marketing | SMM | SEO | Digital Marketing | Mental Health Awareness | Freelancer Digital Marketing | E-commerce | Performance Marketing | Artist
6 个月It's interesting to consider the crossover of mindset between F&B leaders and Revenue Managers. This shift in approach could be a game changer for driving performance in the hospitality industry.
Marianne Chrispijn ??
3 year working experience in LeiLani's pizza and Restro
6 个月Great advice!