STR Study Shows Higher F&B Profits for Properties Using Social Tables

STR Study Shows Higher F&B Profits for Properties Using Social Tables
In March 2018, Social Tables commissioned STR, the leading benchmarking company for the hospitality industry, to conduct an independent study analyzing the impact of our Event Services Platform on hotels.To execute the study, STR analyzed F&B numbers over a three-year period for 631 non-customers and 123 customers, comparing the profits of those...

In March 2018, Social Tables commissioned STR, the leading benchmarking company for the hospitality industry, to conduct an independent study analyzing the impact of our Event Services Platform on hotels.

To execute the study, STR analyzed F&B numbers over a three-year period for 631 non-customers and 123 customers, comparing the profits of those equipped with Social Tables to the profits of properties without our technology.

The research found that hotels equipped with Social Tables generate 1.82% more F&B profit on average than those without when measured on a per-occupied-room (RevPOR) basis.

The table below shows what that 1.82% equates to in dollars at a property level, based on average number of occupied rooms per day.

Statistics from a recent STR study on the effects of Social Tables' Event Services Solution on hotel F&B profit

How does the Social Tables Event Services Platform help properties generate profit?

Our Event Services Platform is designed to improve group business by streamlining communication, collaboration, and execution for meetings and events. Properties are able to create accurate diagrams and 3D renderings as they work toward the ideal layout in real-time with event planners. For F&B in particular, it provides easy solutions for handling special meal requirements and proposing smart upsells in a compelling visual manner.

Just how much does group F&B matter?

For properties that keep operations in-house, F&B typically represents 25% of total revenue — a portion that continues to grow year over year. Group F&B (A/V, room rental, banquet F&B) represents just under 50% of that F&B revenue. As a result, improving group F&B numbers is arguably the single most impactful effort properties can make in growing total F&B revenue.

A pie chart showing revenue distribution across hotel food and beverage offerings

About STR

With over 30 years of service to the hospitality industry, STR is the premier source for premium global data benchmarking, analytics, and marketplace insights. Their comprehensive solutions, analytics, and unrivaled marketplace insights are built to fuel client growth and help organizations make better business decisions — all through data that’s confidential, reliable, actionable, and accurate.

Source: www.socialtables.com