STR and STR Global are delighted to bring detailed food and beverage benchmarking to the hotel industry through their new report, F&B STAR. This report complements the existing STAR report, which focuses on rooms revenue performance.
“We are excited to launch F&B STAR and enter into a new realm of hotel benchmarking,” said Amanda Hite, STR’s COO and president. “F&B is an important part of a hotel’s business and should be tracked closely. These reports will give revenue managers the ability to track their F&B performance against competitors and the local market, and provide another resource to ensure they are ‘in the know.’”
The F&B STAR is a vital revenue management tool that provides a detailed look at a property’s key performance indicators, including revenue per available square foot/meter, revenue per available seat and revenue per occupied room, against a chosen competitive set as well as the local market.
The reports will provide hotels with actionable, monthly benchmarking data on food, beverage, catering and banquets, F&B venues, and in-room dining revenue centers.
“In the past few years, there has been an increased interest in total revenue management, in addition to rooms revenue,” said Elizabeth Winkle, managing director of STR Global. “This growing interest has allowed us to launch F&B benchmarking in the form of the new F&B STAR Report. Comparative F&B analysis will assist in making data-driven decisions and taking a more strategic approach to increasing total revenue per available room (TrevPAR), and allow hotels to monitor, measure and take action to increase revenues in F&B.”
STR and STR Global plan to launch the reports in the third quarter of 2014 in the U.S. and the fourth quarter of 2014 globally. For more information, please contact firstname.lastname@example.org.
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