A hotel’s food-and-beverage program presents a unique opportunity for hoteliers to drive revenue; however, there will be a quick demise if you cut corners or reduce the operation to an afterthought. F&B programs are highly dynamic operations that can teeter anywhere between growing lucrative and becoming a lost cause. As such, hotels interested in remaining competitive within this functional area must be willing to invest accordingly into human capital and program development. Such an investment is critical in driving overall asset value, not only because F&B revenues increase, but also because hoteliers are able to leverage F&B to position a property within its market and drive revenues in the rooms division.But what does that investment look like? With limited resources, minimal margins and fast currents of culinary trends, it can be a challenge to identify when and where to allocate your investment. To help you navigate the tricky terrain, we’ve outlined the top five do’s and do not’s of F&B management.
From Kitchen to Guest: The Importance of F&B in Hospitality
F&B, short for Food and Beverage, covers everything from dining experiences to catering services. The F&B world is a big deal in hospitality — it’s where tons of jobs are created and serious money is made.
The food and beverage industry significantly impacts hospitality, contributing to job creation and revenue generation. With an impressive annual growth rate of 8.7%, it is projected to reach $8.9 trillion by 2026. To remain competitive, businesses must adapt to changing tastes, preferences, and emerging food trends.
Plus, let’s be real: great F&B can make or break a guest’s experience. Nail it, and you’ve got happy guests who keep coming back for more.
In this blog, we’re exploring all things food and beverage and sharing tips on how to improve your F&B operational services.
Why is food and beverage so important in hospitality?
The F&B side of hospitality is not just about great meals; it’s a major driver of a property’s success. For hotels and resorts managing their own F&B, about 25% of their total revenue comes from these services. That says a lot about how much guests value dining during their stay.
Social media takes this to another level. Around 64% of leisure travelers share their dining experiences on Instagram and Facebook. That’s basically free advertising, influencing future guests, and increasing the hotel’s brand. Word of mouth is king in these social media streets.