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.
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.
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. To date, 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.
Planning the buffet, placing the mics, laying it all out — it’s not easy making the little details come to life. So in 2011, we set out to change the way events are designed by introducing better collaboration between planners and properties. Today, we’ve evolved that vision into an innovative platform offering the industry’s leading solutions for event sales, services, and group distribution. All to help the world create the best face-to-face events.