The number of Hotel Food and Beverage spaces have been steadily on the rise since 2011, with a 4.9 percent increase in 2017. This includes restaurants, banquets and catering, bars and lounges, room service, in-room minibars, and other areas, totaling about $48.7 billion in revenue in 2017.
A report by Technomic is forecasting continued growth into 2018, as the demand for these spaces are still rising. The report details how hotels are leveraging local brands for competition, utilizing spaces for social interactions, and emphasizing casual-upscale dining to bring a variety of patrons to their establishments.
“Hotels use their food-and-beverage programs as competitive differentiators and are investing to drive unique guest experiences,” said David Henkes, Senior Principal with Technomic. “As more options appear for consumers, not only in new and emerging types of hotel properties but also in alternative channels like Airbnb and VRBO, having a strong food and beverage program is more important than ever for continued hotel success.”[1]
While growth is evident in a few areas, the report also noticed a decrease in room service spending and minibars.
To read the full report, visit Technomic’s website.
[1] https://www.technomic.com/available-studies/multi-client-studies/lodging
