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Category: Lodging

hotel food and beverage trends
Lodging

Hotel Food & Beverage Trends to Watch in 2018

Food and beverage trends in the hospitality industry have remained mostly unchanged for many years. However, recent shifts in consumer habits have caused hotels to re-think their food and beverage programs. Many hoteliers are making a big push to accommodate consumers’ growing appetite for healthier, convenient food choices. As a result, some classic hotel F&B systems are either being scaled down or phased out completely. While adjusting to these changing trends may require some initial investment on the part of hotels, overall, they are paving the way for a potential increase in profits.

Minibars

One major casualty of changing F&B trends is the hotel minibar. What once served as a healthy revenue stream for hotels has fallen out of favor with many hotel customers. Millennials are largely responsible for the minibar’s decline in popularity. While this demographic does enjoy convenience, they are also budget conscious and unwilling to pay premium pricing for common items they can find cheaper elsewhere. So how do hotels cater to guests’ desire for convenience and value at the same time? By offering premium convenience items that are more likely to entice guests to open their wallets.

Grab-and-Go

Healthy grab-and-go items is the fastest growing food trend in the hotel industry and has tremendous potential for growth in the coming years. Items like yogurt parfaits, green juices, and gourmet box lunches appeal to guests who are on the go. What’s more, these items sell at a much higher price point than traditional concessions like candy bars or chips. Stocking the right convenience items will encourage guests to spend more money in their hotel that they might otherwise spend elsewhere. Guests often cite food options as one of the most important amenities they consider when choosing to book a hotel.

Unique Dining Experiences

Chain restaurants have long been common fixtures in hotels, however, they too are losing traction with hotel customers. Both business and leisure travelers now prefer dining experiences that feel more “local.” To entice guests to take advantage of an on-site restaurant, hotels will have to commit to creating menus that are built around sustainable, seasonal ingredients wherever possible. Guests want dining experiences that are unique and authentic to the city they’re visiting.

Whether you’re looking to incorporate grab-and-go items in your hotel or need a source for seasonal produce, Source1 Purchasing can connect you to the right strategic suppliers for your food & beverage program. Contact us today for a free supply chain analysis.

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Lodging

How Hotels Can Book More Corporate Conferences & Events

Corporate conferences and meetings can potentially be significant income streams for hotels. Corporate groups help fill hotel rooms and often take advantage of other hotel amenities. Unlike leisure travelers, groups looking for hotels for corporate events are typically less concerned with where in the city a hotel is located and more interested in what amenities are available inside the hotel that can add to their event’s success. However, marketing to these groups can be challenging. Many hotels have ballrooms and corporate meeting spaces available, so what does it take to stand out from the competition? The first step towards booking more corporate groups is understanding what planners look for in a meeting venue. Learn how to book corporate events at your hotel with these three tips.

LEISURE ACTIVITIES

Corporate guests will generally spend more time in a hotel during their stay than a leisure guest. Hotels seeking to attract corporate conference and meeting clients should always make maintenance of meeting rooms and common areas a top priority. Stained carpet, old linens, and damaged furniture can all be huge deterrents for meeting planners. Any audio & visual equipment available for use must be well-maintained and in good working order at all times. Hotels should stress their commitment to maintenance in any of their marketing materials and make potential clients aware if the location has undergone any recent renovations or upgrades.

INCENTIVES

Apart from preferred room rates, there are many incentives that hotels can use to draw corporate groups. Hotel incentives like discounts on amenities such as in-house spa treatments and room service will encourage guests to continue to spend money within the hotel during their free time. For corporate events spanning several days, it’s not uncommon for meeting planners to schedule off-site activities for at least a select number of their group members. Hotels that partner with local activity providers, like tour guides or golf courses, should offer their assistance in scheduling any outings.

FOOD & BEVERAGE CHOICES

The quality of a hotel’s food and beverage offerings can be a major deciding factor for meeting planners. In order to remain competitive and as consumers expectations continue to rise, many hotels have worked to drastically improve the quality of their catering menus. Whether the corporate client prefers grab-and-go lunch boxes or plated service, hotels should be prepared to offer fresh, high-quality options either way. Larger groups will almost always expect hotels to be able to accommodate any guests who are vegetarian, gluten-free, or have another common dietary restriction.

From food to linens and furniture, Source1 Purchasing can help hotels save money on everything they need to exceed the expectations of their corporate group clients.

What’s Next for the Greek Yogurt Trend
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The Future of the Greek Yogurt Trend

The Greek yogurt market has seen incredible growth in the past few years and doesn’t show any signs of slowing down. People are drawn to Greek yogurt for its unique texture and health benefits. Like traditional yogurt, it is available in a wide variety of flavors as well as plain. The plain version is a popular addition to savory recipes like marinades, dips, and dressings. It’s no wonder this versatile product has become a staple in many consumers’ kitchens.

Greek yogurt is popular amongst health-conscious consumers because it’s low in carbohydrates, packed with probiotics, and rich in protein. Protein helps you stay full longer, which is one of the reasons why Greek yogurt is a common staple for dieters. And because it comes in a variety of flavors, it can serve as a healthy replacement for pastries and other sweets.

Perhaps the most appealing thing about Greek yogurt is its portability. Grab-and-go items are incredibly popular, especially amongst millennials. Hotels and other businesses in the hospitality industry are working to meet the increased demand for more portable food choices. Many have turned to the Greek yogurt trend as a way to offer their customers with a healthy, satisfying meal or snack that they can take with them as they go about their day.

Chobani was largely responsible for popularizing Greek yogurt in the United States. Today, the company continues to produce new variations of their popular product to meet the demands of the ever-growing culture of convenience. Some popular options include Greek yogurt-based smoothies and products made specifically for children. Based on their latest product releases, it’s clear that snacking is going to be the next big trend in the Greek yogurt market.

“As the No. 1-selling Greek Yogurt in the U.S., Chobani’s mission is to provide better food for more people by making affordable, nutritious, delicious yogurt with only natural ingredients. We’ve spent the last decade reshaping the dairy aisle and we continue to push the yogurt category forward with market-leading innovation.” -Alaynah  Tombridge, Corporate Affairs Manager at Chobani

To learn more about how Source1 Purchasing can help you secure preferred pricing from Chobani and quality suppliers, contact us today for your free supply chain analysis.

The Benefits of Using Regional Suppliers
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The Benefits of Working with Regional Suppliers

There are many factors to weigh when choosing suppliers for your hospitality business. Pricing and quality products are always a high priority, but what about their geographic location? Partnering with regional suppliers can benefit your business in many ways. In many cases, regional suppliers are able to provide higher quality service and value than their out-of-town competitors, making for a more stable supply chain for your business.

Working with regional suppliers can have a direct impact on customer experience. Strategic sourcing of regional food products ensures that your business receives the freshest supplies available. Farm to table initiatives are very popular with diners today, so supporting local growers is a great way to draw more guests into your restaurant. Chefs will benefit from building menus around seasonal local produce because they know they will be able to access items that have just been harvested. Shifting to a more local-centered menu will not only appeal to customers, it will ultimately allow restaurants to serve a higher quality product.

Decreasing the carbon footprint of your supply chain is a good way to help your company’s conservation efforts. Additionally, utilizing a supplier that is located close to your business will help you save on shipping costs. This alone can add up to huge savings over time. Aside from cost savings, local suppliers can help you create a more stable supply chain. Having a supplier that can deliver orders quickly can help safeguard your business from inventory shortages. The same goes for service providers. In the event of an equipment failure, it’s imperative that your service partners can respond to your call as soon as possible.

Working with regional suppliers has a positive impact on your community. Partnering with local businesses can make for deeper supplier relationships. This can make it possible to collaborate with your supplier in ways that go beyond just purchasing. For example, restaurants can partner with local beer, wine, or spirits company to create pairing menus. The two businesses can then cross-promote each other. Many customers, whether they are locals or visiting from out of town, are more likely to support your business if they feel like they’re receiving an authentic local experience.

Find out how Source1 Purchasing can help you with your regional supplier relationship management while saving you over 9% on the cost of your hospitality supplies. Request your free Market Basket today.

4 Things to Consider Before Working with a New Supplier
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4 Things to Consider Before Working with a New Supplier

There is a lot to consider when seeking out a new supplier. The right supplier will have more to offer than just competitive pricing. Even small details are a big deal in the hospitality industry, so every supplier, large or small, must be thoroughly vetted to ensure they meet your business’s quality standards. Here are four things to consider when evaluating a potential supplier:

Pricing

Pricing is a significant deciding factor when it comes to choosing a supplier. Securing preferred pricing status will ensure that you never overpay for your hospitality supplies. The lowest prices are typically offered to businesses that can place high volume orders or are part of a large chain. However, even if you own a restaurant or boutique hotel that can’t commit to that type of volume, there are still ways you can access preferred pricing. Identifying vendors that are part of a large purchasing network, like Source1 Purchasing, will give you access to deviated pricing and rebates that you typically would not be able to take advantage of on your own.

Quality Control

You know how important it is to work with suppliers with a solid reputation. However, even when working with a well-known supplier, it’s important to do your due-diligence and understand how they handle incidents related to their products. For example, ask potential food suppliers what their process is for executing recalls in the event of a salmonella outbreak or similar incident. They should be able to tell you how quickly they would be able to notify you that an affected product should be pulled from inventory.

Order Process

One item that is often overlooked when researching new suppliers is how orders are managed. With so much on their plate, Purchasing Managers need to streamline their ordering processes as much as possible. Whenever possible, work with suppliers that offer online portals or other tools that make ordering from them more efficient. Whenever possible, you should seek to work with suppliers that will give your company priority status. Customers with priority status typically get their orders expedited and can get order minimums waved when necessary. Being part of a large buying group can help you achieve this status even if your company doesn’t typically make high-volume purchases.

Versatility

Special consideration should be given to suppliers that are able to meet multiple needs. Limiting the number of suppliers you work with will typically save your company both time and money. Aligning with a purchasing partner like Source1 Purchasing can help you consolidate your current list of suppliers and streamline your ordering process. If you have suppliers that you already know and trust, Source1 Purchasing can manage their quality and service metrics and negotiate pricing on your behalf.

To learn more about how Source1 Purchasing can help you manage your supply chain while helping you save money, contact us for a free supply chain analysis. We are typically able to identify savings of 9% or more on all your hospitality supply needs.

When Product Substitutions can be Good for Your Business
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When Product Substitutions Can be Good for Your Business

Brand consistency is an important factor to success in the hospitality industry.  Customers will continue to return to an establishment if they know they can rely on a consistent experience each time they visit.  Striving for consistency can make many purchasing professionals sticklers for brand loyalty. However, there are times when product substitutions can not only be acceptable, but beneficial to your business. Subbing a brand name product can often be done without compromising quality. In addition, using a substitute supplier may offer both price advantages and increased stability to your supply chain.

Hotels, restaurants, and casinos put a lot of work into identifying suppliers that meet their quality standards. Suppliers of everything from food to linens must align perfectly with a company’s brand. The need for brand consistency is so imperative that many purchasing departments are reluctant to consider any substitute products once they’ve found a supplier they like. They are often unaware that there are alternative suppliers that can offer them a nearly identical product, often at a lower price. Once you’ve identified a company that offers products comparable to your current inventory, request a sample so you can thoroughly assess whether the supplier can meet your quality standards.

While cost savings is the main appeal of subbing a product, the substitute supplier may be able to offer values in other areas as well. For example, the company may carry a variety of products that your company currently purchases from multiple suppliers. Consolidating the number of suppliers you work with makes purchasing more efficient and can lower the costs of your hospitality supplies and services. If the alternate supplier is part of a large purchasing network, you can increase your cost savings even more by opting into their program to take advantage of discounts on items like food, linens, and maintenance supplies.

Even if you’re happy with your current supplier and pricing structure, it could still be beneficial to vet substitute suppliers. If you ever find yourself in a position where your current supplier experiences an inventory shortage or a significant price increase, having an alternate source for your essential products can help you avoid costly inventory shortages.

Identifying new strategic suppliers can be a difficult task, however, the purchasing specialists at Source1 Purchasing can help you identify the best suppliers for your business. Get to know our network of quality suppliers by contacting Source1 Purchasing today.

 

How the Culture of Convenience is Shaping the Food Industry
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How the Culture of Convenience is Shaping the Food Industry

In recent years, Millennials have led the charge in the now widely-adopted convenience culture. When it comes to dining, consumers have come to expect on-demand services and flexible delivery options. Restaurants, cafes, and hotels have had to diversify their offerings to maintain their market share. With so many restaurants now offering speedy delivery services, consumers have more quality choices available to them ever. Restaurants need to find the right balance of quality, selection, and speed to earn diners’ business.

Technology has become a huge asset in helping the food industry accommodate customers and their need for instant gratification. Automated food ordering now works seamlessly with smartphones, allowing customers to order delivery from their favorite restaurant with a click of a button, or place their latte order before ever stepping foot into their local coffee house. But what about a walk-in customer who wants food in a hurry? For many cafes and restaurants, including those in hotels, their traditional offerings may require too much time to prep for customers that are on the go. That has many establishments looking to add pre-packaged items to their menus.

The rise of the convenience culture has forced hotels and restaurants to evaluate their suppliers and strategically source products that appeal to customers on-the-go. There is still a need to cater to traditional dine-in guests but having a selection of quality pre-packaged options available for customers in a hurry can be a valuable additional revenue stream if it’s done properly. Healthy grab-and-go snacks, bistro box lunches and upscale beverages like pressed juices are all popular offerings. Some of these items may be available directly from hospitality suppliers, but many restaurants and hotels may also choose to assemble these offerings in-house.

Convenience foods require vastly different packaging solutions than traditional take out. Containers need to be small and present their contents in an attractive way. Strategic sourcing of high-quality retail food packaging is integral to making grab-and-go offerings appealing to customers. Just because they want something quick and convenient, doesn’t mean consumers are willing to compromise on quality.

Partnering with a procurement consulting specialist like Source1 Purchasing can be helpful in sourcing the hospitality supplies your restaurant or hotel needs to create successful on-demand offerings for your customers.

Take your next step toward greater profit with the Source1 Purchasing Solution.
Call: 888.411.9987
Contact Us Here

Reacting to Negative Online Reviews
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Reacting to Negative Online Reviews

Social media has made it easier than ever for a customer to share their opinions with the world, which can have a positive impact on your business. The majority of reviews posted online are favorable. Online review sites are a great way to get exposure for your restaurant, hotel, or other business. But what if you receive a bad review online? How should you respond? No matter how dedicated you are to providing your customers with a positive experience, chances are you may have to deal with a negative review at some point. Here are some tips for handling a bad review:

Have a Plan in Place

Even if you’ve never received a bad review in the past, it’s a good idea to have an action plan in place so you can swiftly address a negative review when it’s posted. Many business owners and managers make the mistake of allowing their emotions to get the best of them when a bad review comes in. The result is often a defensive and ineffective public response to the reviewer which can reflect poorly on your business.

Act Quickly

When it comes to online reviews, failing to address negative feedback in a timely manner can make matters worse. Potential and existing customers can mistake your silence for indifference. Reply to the review publicly, letting the customer know that their concerns are a top priority. If possible, request more details about their experience via a private message. Talk to any staff members that may have knowledge of the incident in question to determine where you could have served the customer better.

Make it Right

Do your best to mend your business relationship with the reviewer. If you find that your establishment failed to offer them with adequate service, compensate them in a way that seems fair. The promise of a future discount or a credit or partial credit of their recent visit can go a long way in bringing a disgruntled customer down to a cool calm. Above all, be sure to always validate their feelings, even if you don’t feel your business was in the wrong. Many customers will update their review if they feel you adequately handled their complaint.

Negative review can be devastating, especially for restaurants and hotels with multiple locations, where a bad review of one location can hurt business for all the other locations. If your expansion has caused variability in the customer experience, you will benefit from a purchasing services organization that will help you initiate restaurant-wide buying standards and set up systems to monitor and enforce your procurement processes.

Take your next step toward greater profit with the Source1 Purchasing Solution.
Call: 888.411.9987
Contact Us Here
www.source1purchasing.com

Click here to get your free Market Basket. (Typically, a Market Basket will identify savings opportunities of 9% or more!)

How Hotels Can Appeal to Generation Z
Lodging

How Hotels Can Appeal to Generation Z

As Generation Z enters adulthood, many hotels have begun exploring ways to reach this young demographic. The hotel industry faces some unique challenges when it comes to appealing to their next generation of customers. The amenities and brand consistency that older generations look for are not enough to attract younger guests. To build a reputation among Generation Z customers, hotels will have to market to them in a completely different way. However, establishments that make moves to reach this demographic now will have the upper hand in a few short years when Generation Z is expected to account for upwards of 40 percent of all hotel customers. To get started, here are a few things hotels need to consider about Gen Z:

Their Values

The first step towards reaching Generation Z is understanding their values. Despite their young age, Generation Z is extremely socially conscious. They take pride in supporting businesses with values that mirror their own. Hotels that are active in their community, have a history of charitable giving, or openly speak out on current events have an opportunity to stand out from other establishments.

Their Relationship with Money

Like the Millennials that came before them, Generation Z tends to put more value on experiences over luxury. This means a unique craft cocktail menu is more likely to draw guests into a hotel bar than top-shelf spirits. In fact, hotels will find that it’s generally very difficult to upsell this demographic on any luxury offerings. Generation Z is very guarded with their money. This is a generation that has grown up with a wealth of information at their fingertips, and they are experts at getting what they want at the best possible value. To keep guests from looking outside their hotel for dining and entertainment, hotels will have to work harder to create unique offerings such as specialized spa treatments that can’t be experienced anywhere else.

The Way They Use Social Media

Visual storytelling is popular among Generation Z. They tend to shy away from text-based social media posts and have largely lost interest in platforms like Facebook and Twitter. Instead, this generation opts for image and video-based networks like Instagram and Snapchat. Focusing on creating rich visual content on these platforms is the best way to get noticed by Generation Z. These changing trends in social media can be a great opportunity for hotels to engage with guests on a deeper level and gain exposure at the same time. There are many ways hotels can create photo-friendly moments throughout a guest’s stay. Floral arrangements and pieces of art can serve as an irresistible backdrop for a photo, especially when paired with favorable lighting. Even a perfectly organized continental breakfast bar can beckon for a closeup. Small details can play a big part in the way your hotel is portrayed online.

Take your next step toward greater profit with the Source1 Purchasing Solution.
Call: 888.411.9987
Contact Us Here
www.source1purchasing.com

Click here to get your free Supply Chain Analysis (Typically, a Supply Chain Analysis will identify savings opportunities of 9% or more!)

 

 

Secret Sauce of Menu Pricing
Blog PostsCasinosCateringLodgingRestaurants

The Secret Sauce of Menu Pricing

In the hospitality industry, whether you are running a hotel with food and beverage services or a managing full service restaurant or managing a catering company, pricing food is always the key to profits and it’s more important than ever before.

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