Social Tables commisioned a study that shows the positive impact of their Event Services Platform on hotels performance.
In March 2018, Social Tables commissioned STR, the leading benchmarking company for the hospitality industry, to conduct an independent study analyzing the impact of our Event Services Platform on hotels.
To execute the study, STR analyzed F&B numbers over a three-year period for 631 non-customers and 123 customers, comparing the profits of those equipped with Social Tables to the profits of properties without our technology.
The research found that hotels equipped with Social Tables generate 1.82% more F&B profit on average than those without, when measured on a per-occupied-room (RevPOR) basis.
The table below shows what that 1.82% equates to in dollars at a property level, based on average number of occupied rooms per day.
How does the Social Tables Event Services Platform help properties generate profit?
Our Event Services Platform is designed to improve group business by streamlining communication, collaboration, and execution for meetings and events. Properties are able to create accurate diagrams and 3D renderings as they work toward the ideal layout in real-time with event planners. For F&B in particular, it provides easy solutions for handling special meal requirements and proposing smart upsells in a compelling visual manner.
Just how much does group F&B matter?
For properties that keep operations in-house, F&B typically represents 25% of total revenue — a portion that continues to grow year over year. Group F&B (A/V, room rental, banquet F&B) represents just under 50% of that F&B revenue. As a result, improving group F&B numbers is arguably the single most impactful effort properties can make in growing total F&B revenue.
Statistics for 2010-2016 from CBRE Hotels’ Americas Research
With over 30 years of service to the hospitality industry, STR is the premier source for premium global data benchmarking, analytics, and marketplace insights. Their comprehensive solutions, analytics, and unrivaled marketplace insights are built to fuel client growth and help organizations make better business decisions — all through data that’s confidential, reliable, actionable, and accurate.
About Social Tables
We connect the hospitality industry through effortless event planning that creates successful face-to-face events. To date, our cutting-edge sales, services, and distribution platform has helped planners and properties carry out over three million amazing events — from diagramming and seating to seamless collaboration. Founded in 2011 and proudly headquartered in Washington, DC, we’ve won a variety of industry awards, including “Innovator of the Year” from Event Solutions and “Best Industry Innovation” from ILEA.
To find out how Social Tables can help you grow F&B profit and tackle the unique challenges at your property, request a demo.
The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at email@example.com.