Top 3 Profitability Factors in Food and Beverage

Profitability in food and beverage is a numbers game, and we specialize in operating food and beverage establishments, whether standalone or as part of a hotel, for profit.

A property’s food and beverage operation is a fundamental element of the overall atmosphere and culture. From developing innovative menus that are easily administered and profitable to consistently delivering an outstanding product at contained costs, Taylor Hospitality cultivates the food and beverage operation to be the cornerstone of the property.

Here are the Top 3 Profitability Factors you have to get right in order to be successful:

Banquet / Wedding / Event Sales

Unequivocally, the most profitable aspect of the hospitality business is event sales. A strong banquet business allows for lower food costs, leverage with vendors, high-quality service professionals, and a significant value for the stakeholders. Lower food costs allow us to transfer savings to the owners. Taylor Hospitality is an extremely strong participant in the wedding industry. We have hosted to bridal shows and planned and hosted dozens of weddings, rehearsals, and receptions. We fully understand that 10-15 weddings per year can positively transform a property’s income statement.

Profitability in food and beverage means cross-utilizing ingredients to ensure events and a la carte dining are both profitable.Menu Creation

In conjunction with our culinary staff, the team analyzes the marketplace, culinary capabilities, and homeowners/guests desire to develop a menu that is profitable and executable. We always leverage singular items for multiple uses to help control food costs and minimize waste.

Procurement

Through our national account, we receive the best possible pricing within the food industry. Working actively with our procurement partner, we identify our most profitable, highest quality items so that your homeowners receive value for their food and beverage experience. In addition, we work tirelessly to procure local vendors to take advantage of seasonal food elements. And you should do the same.

We’d love to help you be profitable. Contact us for a commitment-free consultation to learn more.

View our portfolio of food and beverage clients here.

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