WASHINGTON—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.”