Why are hotel companies placing a greater emphasis on food & beverage than in the past?
Overall, the executives agreed that in the past five to ten years, consumers from nearly all market segments have become more demanding when it comes to food and beverage quality and the dining experience. This shift is partially credited to the increased presence of specialized media content such as the Food Network, which has elevated chefs from people traditionally hidden away in the kitchen to innovators with celebrity status. Hoteliers also concur that competition in the hotel and food and beverage industries is at an all-time high, with the emergence of more concepts in the past five years than in the past fifteen. Further, hotel food & beverage has been recognized as an important contributor to a hotel’s positioning within its market. As such, a guest’s experience with food & beverage plays a critical role in his or her overall hotel experience, and has been credited as an important driver for rooms revenue as well as overall asset value. This explains why, in recent years, corp
