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As the hospitality industry continues to grow, a great investment for hoteliers is teaming up with local eateries and independent restaurants to create new F&B experiences. However, it’s not enough just to rely on the quality of the cuisine, as there are additional strategies that need to be thoughtfully implemented to ensure the establishment’s success.
To begin with, a robust system for procurement and recipe management should be set in place to accurately measure data and identify what products and dishes are most profitable. In addition, the menu needs to be proactively engineered and carefully priced. With a strategically planned menu, cleverly named dishes, and appropriate seasonal price changes, customers will be more readily encouraged to buy.
Now, restaurant performance should be regularly monitored to ensure it’s being optimized, and the architectural design of the space should be tailored to maximize ROI per square meter. As experienced revenue optimization expert Judith Cartwright, founder and managing director of Black Coral Consulting, mentions, “For hotels to succeed, every space, including F&B outlets, must be transformed into profit centers.”
When hotels and independent restaurants collaborate to create a successful revenue optimization plan, a high-quality dining experience will result in an exceptional performance. By paying close attention to the underlying details such as systems, menu engineering, and space optimization, a wonderful F&B experience that customers will be more than happy to return to can be achieved