How to Maximize Your Hotel Food and Beverage Profits

It’s no secret that food and beverage profits are hard to generate. In fact, food and beverage are usually the culprit when it comes to reducing hotels’ overall profits. The difficulty of offering enough variety to please every customer combined with the amount of waste created due to expired products or returned meals makes for a tough equation, often with a negative instead of a positive outcome. However, the trend toward self-service may help turn this around. Establishing a self-service market in your hotel lobby can help you counter the difficulties you face with food and beverage profit in your hotel by providing more easily accessible, more attractively displayed, and more relevant products for your customers.

Convenient Access 24/7

One of the perks of self-service markets is that they can potentially offer hotel guests 24/7 access to the products they want and need. Flight got in late? No worries, you can grab a sandwich, drink, or snack from the hotel lobby. Didn’t have any travel-sized toiletries? You can get everything you need, from toothpaste to sunscreen at the hotel lobby.

How to Maximize Your Hotel Food and Beverage Profits

Get Creative with Your Display

Self-service markets allow you to use your space wisely. Come up with creative ways to display your products to make them both attractive to consumers and to maximize your space. This will enable you to provide a wide variety of products, appealing to all of your guests, whether they prefer the red, purple, or black coffee pods, regular, barbecue, or salt and vinegar chips, and much, much more. Consumers expect there to be variety more than anything else, and a self-service market will give you the chance to give it to them.

Personalization Is Key

Beyond variety, customers also expect personalized options. Make sure you offer gluten-free, vegetarian, and vegan options so that your guests with dietary restrictions feel included. If these sometimes harder to find options are available at your market, guests are more likely to purchase from you instead of going out to look for something specific.

Ask us about our solutions for hotels

Use Data

With a management system, you can gather data on sales, track and manage your inventory, and understand which products you sell more or less of. This data will help you plan for the future, knowing what to order more or less of from your supplier, and know what days and times guests tend to purchase to know when to restock and with what.

Reduce Spoilage

And last but not least, you can also use an inventory management system to reduce spoilage, helping you avoid one of problems that cause the most loss in the food and beverage industry. By adding the best by dates of products when you’re stocking them, you can keep track of which products will need to be thrown out and try to reduce the risk by promoting them before they reach that date. Use the screen on your self-service kiosk to advertise products nearing their expiration date, or offer them at a discount to make sure you can still generate revenue from these products.

Self-service markets in hotels greatly help hotel owners increase their revenue by giving guests what they need, when they need it. This new revenue stream can be easily managed with a management system that lets you know what you need to restock and when. Because this is a self-service market, you won’t need extra staff on hand 24/7, and can monitor the market as you do the rest of your hotel, with security cameras.

Nayax’s Nova Market self-service kiosk is a great place to start. This out-of-the-box kiosk is easy to install and set up, comes with a state-of-the-art management system, and accepts over 80 forms of cashless payments, making it easy for tourists and travelers to use and guaranteeing that you never miss out on a sale.

Want to learn more about Nayax’s solutions for hotels? Contact us here.

Get your free consultation

Fill out the form and we’ll be in touch shortly.

action / 9 - action, cancel, close, delete, exit, remove, x icon
action / 9 - action, cancel, close, delete, exit, remove, x icon
action / 9 - action, cancel, close, delete, exit, remove, x icon
action / 9 - action, cancel, close, delete, exit, remove, x icon