AH&LA Partners With STR To Launch F&B Star Benchmark Report
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.
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 American Hotel & Lodging Association
Serving the hospitality industry for more than a century, the American Hotel & Lodging Association (AHLA) is the largest national association solely representing all segments of the 8 million jobs the U.S. lodging industry supports, including hotel owners, REITs, chains, franchisees, management companies, independent properties, bed and breakfasts, state hotel associations, and industry suppliers. Headquartered in Washington, D.C., AHLA focuses on strategic advocacy, communications support, and educational resources for an industry that advances long-term career opportunities for employees, invests in local communities across the country and hosts more than one billion guests" stays in American hotels every year. AHLA proudly represents a dynamic hotel industry of more than 54,000 properties that supports $1.1 trillion in U.S. sales and generates nearly $170 billion in taxes to local, state and federal governments. Learn more at www.AHLA.com.