In March 2018, Social Tables commissioned STR to conduct an independent study of our Event Services Platform. The research by STR, the leading benchmarking company for the hospitality industry, looked at the impact of our tool on hotel profits.
About the STR research
In the study, STR analyzed three-year food and beverage revenue for more than 750 hotels. Those hotels included 631 non-customers and 123 customers. Then, STR compared the profits of those that use Social Tables to those that do not use our technology.
The STR research found that hotels that use Social Tables generate 1.82% more F&B profit per occupied room on average.
The table below shows what that looks like in dollars at a property level. That data is based on the average number of occupied rooms per day.
How does the Social Tables Event Services Platform help properties generate profit?
Our Event Services Platform improves group business by streamlining communication, collaboration, and execution for meetings and events. The tool lets properties create accurate diagrams and 3D renderings, so they can design the ideal layout in real time. For F&B in particular, it offers solutions for handling meal requirements and proposing smart upsells in a compelling way.
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 grows each year. Group F&B (A/V, room rental, banquet F&B) represents just under 50% of that F&B revenue. As a result, increasing group F&B sales could be the most impactful way properties can grow total F&B revenue.
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.
About Social Tables
We connect the hospitality industry through effortless event planning that creates successful face-to-face events. Our cutting-edge sales, services, and distribution platform has helped planners and properties carry out over three million amazing events ” from diagramming and seating to seamless collaboration. Founded in 2011 and proudly headquartered in Washington, DC, we’ve won a variety of industry awards, including Innovator of the Year from Event Solutions and Best Industry Innovation from ILEA.
To find out how Social Tables can help you grow F&B profit and tackle the unique challenges at your property, request a demo.
Disclaimer: This study was commissioned by Social Tables and independently executed by STR. It does not indicate any partnership with (nor endorsement of) Social Tables on the behalf of STR.