Reference no: EM132452467

Description

Global economic trends play a huge role in consumer spending. Whether it's for business or leisure travel, expenses often must adhere to budgetary restrictions suitable to meet guest needs. Finding an effective price point to maximize consumer spending can be a difficult task. The challenge that faces many hoteliers is to consistently maintain strong occupancy numbers. However, the retention of in-house guest spending can also pose an even greater challenge, especially towards the utilization of onsite amenities such as food and beverage (F&B).

Many hotels invest vast amounts of capital in designing restaurant concepts and F&B outlets to meet the needs of their target customers. Attracting interest from both hotel guests that stay onsite and local patrons from the community is not an easy task. The sheer number of outside F&B vendor options and the influence of review sites such as TripAdvisor and Yelp, can easily persuade the habits of guests and consumer spending. As hoteliers, how do we keep our customers onsite?

We live in a world where fickle tastes and differing culinary desires seem more demanding. Today, dietary restrictions and ever-changing food trends are the norm, so how can hotels remain competitive in the food service industry?

Answer blow questions in your essay

1. As hoteliers, how do we keep our customers onsite to enjoy onsite F&B in terms of consumer spending?

2. How can hotels remain competitive in the food service industry?

3. The key trends identified in the F&B industry both seen here in Victoria and globally?

4. What conversations did you engage in with local F&B providers regarding current trends in the industry?

5. After speaking with industry leaders, what questions did you want to further ask or, in what ways did you want to continue the conversation?

6. What are success or failure rates for hotel F&B operations or what research is available showing these challenges?

7. How some properties been successful in managing their food service outlets to maximize guest sales and revenue?