Washington, November 13, 2012
– The American Hotel
& Lodging Association (AH&LA) and STR have joined forces to
create the
first Food & Beverage STAR Benchmark Report. Created by the
AH&LA
Food & Beverage Council to develop a standard language or metric
that
quantifies hotel F&B revenues, the report eventually will enable
hoteliers
to benchmark against properties within their brand, their competitive
set, and
allow for universal training.
Although it will be a separate report, as with the STAR Reporting,
the 44,000 hotels worldwide that participate will receive the data and
define
their own comp set. Data feeds must be provided to STR no later
than
January 2013. If sufficient data is reported, the goal is to
create the
first report by 2014. Otherwise, the data could be limited by
region or
city.
This report will be useful for general managers to gauge local
market potential; F&B directors will hone in on the comp set’s
historical
trends; revenue manager will build more meaningful reports; catering
directors
will be able to make better booking decisions; developers will be able
to make
more accurate site and property valuation; and designers will have more
information for commercial space utilization and planning.
“We’re excited to launch this important tool to help hoteliers
make more informed decisions regarding their F&B venues,” said
AH&LA
President/CEO Joe McInerney, CHA. “I commend the Food &
Beverage
Council members for their forward thinking that F&B could and
should be
reported just as occupancy and related stats have been reported for
decades.”
About the AH&LA
Serving the hospitality industry for a century, AH&LA is the
sole national association representing all sectors and stakeholders in
the
lodging industry, including individual hotel property members, hotel
companies,
student and faculty members, and industry suppliers. Headquartered in
Washington, D.C., AH&LA provides members with national advocacy on
Capitol
Hill, public relations and image management, education, research and
information, and other value-added services to provide bottom-line
savings and
ensure a positive business climate for the lodging industry. Partner
state
associations provide local representation and additional cost-saving
benefits
to members.
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