Tracking Banquets
Hotel banquets should be incredibly profitable— and mostly are.
However, precisely because they are so profitable, banquets often hide the issues that are happening in your hotel bars and restaurants.
Most hotels run off a set target for the Cost of Goods number.
The challenge with this strategy is that hotels are leaving a lot of cash on the table by not maximizing their beverage potential.
In most situations, the target cost of goods is far higher than where their costs should be.
The reason for this is because hotel CFO's have no way of knowing what this target should be.
This is where Barmetrix can help.
Barmetrix can not only tell you where your Cost of Goods are—but also where they should be and how to get there.
