We eat, sleep and live all things numbers – we are the true number crunchers. The perfect credentials and match for the hospitality sector, which caters for eating, sleeping and living!
We are launching this blog to provide a platform to all those who work in, supply and support the hospitality industry, to see what is happening in the industry and how the world of finance impacts your operations. From the urgent to the nice-to-know, and from the serious to the slightly silly, we will blog about it here… and our blogs will be short, but informative (bite size blogs!).
To stay informed, sign up to the email nudges for when new blog posts go live (pop your email in the box on the right).
We hope you enjoy and we encourage interaction and feedback – after all, you are the ones operating in this diverse sector, so your voice counts.
Maximising revenue is always high on the agenda when you run a business, especially in the fast moving service industry. Pubs are constantly having to re-look at the ways they operate as they are hit by ongoing social and economical changes, which constantly effect their trade.
Most pubs have space, space that may not be being utilised to its best potential. Many pubs use this space for guest rooms, but are you maximising the potential?
The Profitable Beds in Pubs event in London on 4th July 2018 will showcase:
- How to drive traffic to your website
- How to drive direct bookings
- What to do with and how to handle guest feedback and TripAdvisor reviews
Find out more and how to book here >
There are proposed changes to the copyright licencing of TVs used in hospitality for public viewing. This could effect you if you have TVs in your commercial guest rooms.
Read and have your say with the British Hospitality Associations survey: MPLC – new proposed copyright tariff for TVs in hotel bedrooms >
The hospitality sector has always had issues with staffing, with high turnover, people not turning up for shifts and covering unsociable hours, to name a few.
There is a more and more focus on providing what is wanted: development opportunities and flexibility. It is not always (all) about the money…
This is not a new topic of discussion and many organisations have come up with great methods to recruit team members, retain them, keep them motivated and train to high standards. These are models that should be shared and observed, to see how your own organisations can benefit.
Here are some examples:
Clink Charity and The Clink Prison Program >
Charlestowne Hotels >
The Australian HR Institute covers this topic >
The Caterer covers this topic >
Our plastic legacy will take decades to biodegrade and David Attenborough has shone a light on this issue, which has led to a lot of noise about how people and organisations are using and disposing of plastics.
In a world where ‘disposable’ has been convenient, many organisations are now taking a hard look at how they operate and how they can make changes. So how do you fayre?
Greenpeace have a plastic footprint calculator – how does your organisation rate?
Calculate your plastic footprint:
The hospitality industry have been highly visible in their positive measures and steps to reduce their plastic waste and plastic usage. Now the government are pushing through a law to ban plastic straws, stirrers and cotton buds as part of their bid to significantly reduce plastic waste (some believe as soon as November 2018).
10th May sees UK Hospitality hosting ‘Unpack the Future of Hospitality’, focusing on reducing plastic waste in the hospitality sector (what has been done, what more could be done). To register (and find out more) visit:
So many ways to look at technology within the hospitality sector, from systems to social marketing, rankings to finances, and everything else too! So why is it still not embraced fully to increase efficiency and exposure?
Costs? Technology investments are significant lines on the P&L, but without investment your may be holding back your business. Technology costs ultimately reduce costs, through increased efficiencies and enhancing the customer experience.
Remember, technology is not just there to help you… it helps your customers. Think contactless payment, online bookings, etc. Customers’ time is precious, so helping them save time will ultimately help you.
And don’t forget all that wonderful information about buying and booking habits you can capture through technology, to enhance your marketing strategies.
Hostech 2018 stated that “The hospitality sector remains behind the majority of UK consumer-facing industries when it comes to embracing and harnessing technology. It must catch up quick, especially if it wants to secure a new generation of consumers, take advantage of the huge opportunities to improve efficiency at a time of cost pressures and stay on top of security issues posed by cyber hacking and GDPR.” (source: https://www.hostech.co.uk/)
Technology for technology sake is not the answer, but technology for the sake of your business development and customer draw is an answer. Innovation, staying ahead of the competition, embracing what your customers’ want… technology has an answer.
Have you considered Crowd Funding for developing your services, growing your business or starting up a new venture?
Glen Rothay Hotel’s doing it >
Silo Brighton did it >
Crowdfunding offers the opportunity to finance ventures, at a time when there’s not as many alternative sources for raising capital. So is it for you?
As a great way to raise your profile and gain PR, Crowdfunding exposes you to other businesses, influencers and communities and at the same time provides invaluable market info and insights from investors. However, there is no support program built into the investment – no business coach or support program that is traditionally offered through business banking etc. You need to deliver.
Crowdfunding may not be for everyone (there is a definate stance towards charitable and ethical organisations… people love a good backstory), but it is a real source of finance if you are able to engage the investors.
Leading hoteliers in Wales today welcomed the rejection of broad proposals for a Wales-wide ‘tourism tax’ that could make the industry uncompetitive and add hundreds of thousands of pounds a year to tourist bills.
Read more >