As group and transient business changes, monthly forecasts for payroll need to vary from the previous year's budget. Labor cost is every hotel's biggest controllable expense. Your hotel software will control up to seventeen different food and beverage departments
Track Purchases daily. Food cost is one of the easiest numbers to hit if you have properly written menus. Calculate beginning and ending inventory for real cost of sales.
Update monthly actual revenue so that the forecast for your hotel adjusts to an ever changing monthly revenue flow in order to control payroll and expenses.
Input in minutes with any changes to business and begin to reforecast in a methodical manner any changes to the original budget. Payroll can be planned months out and an actual reforecast becomes easy and attainable.
Calculate daily revenue from catering food sales, catering beverage, outlets, room service revenue, service charges and audio visual revenue.
This revenue source for the Food and Beverage department is the strongest stream of income and may fluctuate weekly due to updates of group guaranteed revenue. A quick update will help control labor, purchasing and help you hit your financial goals.
Project out your catering year daily, net your revenue weekly, then everyone is on the same page, and the annual goals are met. Proper forecasting means that there are no surprises at month end.
All hotels’ occupancy changes monthly from budget due to group guarantees that affect the catering department. Transient demand increase or decrease due to the economy. Outlet capture rates also change due to group versus transient ratio.
Give your restaurant managers new monthly labor budget in order to hit their labor goals. Staff up for GSS or down in order to hit labor cost percent.
If you don’t already know every Food and Beverage financial pitfall your hotels will face in the next decade, your company needs this web-based tool. I am a former Area Director for major competitive brands, with twenty years of food and beverage experience. Over the years, I have developed an application where all 12 monthly forecasts are written at the beginning of the year and compared to the monthly budgets. As the year progresses, the system identifies budget variances far into the future, allowing you to adjust your decisions with no mistakes or disappointments to ownership.
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