KAM Insight’s Post

🌟 Reflections from Melbourne for F&B operators After an inspiring week in Melbourne, here are some key reflections to drive success in your F&B business: 🚀 Technology is Essential: Use tech to boost performance and profits! Choose systems that integrate well and are backed by industry experts. 🤝 Culture Matters: Every spot with great service also had a great culture. Teams that care, trust, and work well together create amazing guest experiences. 💰 Money Talks: If you’re not seeing double-digit profit margins, start looking inward. Manage your cost of goods (something only 3% do seriously), keep an eye on wages, and focus on delivering top-notch food, service, and hospitality. Loyal customers come back faster than any marketing can achieve! #FandBInsights #Hospitality #FineFoodMelbourne #BusinessTips

I'm proud and humbled to share a milestone achievement for our Compset team. 🌟 Featured in Hospitality Buzz magazine's HICSA special edition, we've been recognized for our cutting-edge approach to F&B benchmarking and the significant impact we're having in the hospitality industry. On pages 17 and 18, you'll find an exploration of how our analytics tools are not just number-crunching devices but strategic enablers that empower hotels to elevate their F&B offerings and boost their revenues. As the founder of Compset, it’s fulfilling to see our vision come to life – turning data into actionable insights for hotel chains eager to thrive. This feature isn't just our story – it's a shared narrative of an entire industry’s passion for excellence and innovation. If you're part of the hospitality community or simply fascinated by the power of analytics in shaping the future of industries, I encourage you to read our feature. Check out the full article and let’s engage in a conversation about powering your F&B sector towards unparalleled success. Together, let's set new benchmarks for hospitality. 🚀 #Compset #Hospitality #FandBInnovation #DataDriven #HospitalityBuzz #HICSA #Leadership

UK Hospitality Trends: New Insights from our Latest ‘Quick Take’ Report 📊 Analysing over 4.1 million online reviews from restaurants, bars, pubs, and coffee shops across the UK, this comprehensive overview highlights crucial trends for marketers and CX professionals, emphasising the value of customer feedback and its direct impact on revenue and visibility. Here are some key takeaways: ✅ Engagement Fuels Growth: Businesses that prioritise customer engagement saw a remarkable increase in reviews in 2024, with a higher share of positive feedback as neutral and negative reviews declined. ❤️ Kindness Counts: Guests place a premium on how they're treated, with friendliness and helpful service being key factors in their dining experience. 🎯 Selective Responses: More businesses respond to positive reviews, but addressing neutral or negative feedback remains an opportunity for improvement. 📉 Visibility Struggles: While online profiles are kept accurate, consistent review volume and distribution still pose a challenge for many. 💸 Reputation Drives Revenue: Top operators like Stonegate and Mitchells & Butlers confirm a direct correlation between strong site ratings and increased sales. https://lnkd.in/e2NtSyUA Read the full report here or get the full download from Kate Burns at the Hospitality Tech Expo today at 11am in theatre 6. #UKHospitality #GuestExperience #ReputationManagement #BusinessGrowth #HospitalityTechExpo

🎉 Compset's Feature in Hospitality Buzz Magazine: A Game Changer in F&B Benchmarking 🎉 We're absolutely elated to share that Compset is making waves in the hospitality sector! Featured in the coveted HICSA special edition of Hospitality Buzz magazine, April 2024, we are turning heads on pages 17 and 18 for revolutionizing F&B benchmarking and analytics. 🌟 🔍 Featured Highlights: Revolutionary Analytics: Dive deep into how we leverage analytics to empower hotels to refine their F&B offerings and amplify revenues. Triumph in Adversity: Discover our growth story, where we witnessed a staggering 25% boost in total F&B revenue in 2023, despite challenges. Strategic Growth: Learn about our unique approach in pitting F&B performance against direct competition to unlock strategic growth. This recognition isn’t just about us. It’s a testament to the collective spirit of innovation and resilience in the hospitality industry, especially post-pandemic recovery and growth. Our feature lays out a clear narrative that integrates the essence of F&B benchmarking with strategic financial insights and market intelligence, emphasizing the sophistication and precision of our tools. Are you steering a hotel chain and looking to enhance your F&B performance? Or perhaps you're a data enthusiast who appreciates the synergy between analytics and hospitality? This feature is your must-read! 🔗 Embrace the insights from our feature on our blog [Compset.in] and let's explore how we can transform your F&B services into a model of success and profitability. A big shout-out to Hospitality Buzz for spotlighting our journey, and heartfelt thanks to our partners and clients who have been pivotal in our narrative of growth and excellence. Join the conversation on how data-driven decisions are reshaping the future of hospitality. #Compset #HospitalityInnovation #FandBExcellence #Benchmarking #HospitalityBuzz #HICSA2024 #HospitalityTech

The golden ticket to business success is still customer loyalty. My recent trip to Tsim Sha Tsui in Hong Kong shed light on this fundamental aspect of the hospitality industry. As I navigated the bustling streets around Nathan Road, I couldn't help but notice the myriad of choices available to me. Amidst the plethora of options, I found myself drawn to a particular establishment, partly due to the allure of a discount voucher I had received four years ago. What struck me the most was the seamless experience of redeeming the voucher. Without hesitation, the restaurant honored the discount and even issued a new one, demonstrating a commitment to retaining loyal patrons. This simple act left a lasting impression on me, highlighting the importance of fostering loyalty in today's competitive climate. In an industry where choices abound and customer preferences evolve rapidly, building and maintaining loyalty is paramount. It's not just about offering discounts or incentives; it's about creating memorable experiences that keep guests coming back time and again. Excellence breeds loyalty, whether it's through exceptional service, mouthwatering cuisine, or a welcoming ambiance. Moreover, having the right equipment and the right people plays a crucial role in delivering consistently outstanding experiences. At Fabristeel Private Limited, we understand the significance of loyalty and how it can lead your business down the path toward excellence and longevity. Our mission is to help businesses elevate their operations with innovative equipment solutions and much more. Let’s have a chat and feel free to take a look at our website in the meantime if you want to find out more: https://lnkd.in/gPFBM75u   #Fabristeel #hospitality #foodservice #customerloyalty #businessinsight

Really enjoyed attending the first day of Casual Dining and lunch! yesterday. Lots of brilliant keynote sessions, and nice to catch up with people from right across the hospitality sector 🍽️🤝. One of the keynote sessions that caught my eye was titled “𝗧𝗵𝗲 𝗯𝗹𝘂𝗿𝗿𝗶𝗻𝗴 𝗹𝗶𝗻𝗲𝘀 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝗿𝗲𝘁𝗮𝗶𝗹 𝗮𝗻𝗱 𝗵𝗼𝘀𝗽𝗶𝘁𝗮𝗹𝗶𝘁𝘆. 𝗜𝗻𝘀𝗶𝗱𝗲 𝘁𝗵𝗲 𝗺𝗶𝗻𝗱 𝗼𝗳 𝗮𝗻 𝗲𝘅𝗽𝗲𝗿𝘁.” In a slight change from the published agenda, Thomas Campbell-Rawlinson, Head of Hospitality Development at M&S, shared his perspectives on Retail and Hospitality as One, including 𝗵𝗼𝘄 𝗠&𝗦 𝗵𝗮𝘀 𝗯𝗲𝗲𝗻 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗶𝗻𝗴 𝘁𝗵𝗲𝗶𝗿 𝗼𝗳𝗳𝗲𝗿 𝘁𝗼 𝗰𝗮𝘁𝗲𝗿 𝗳𝗼𝗿 𝘀𝗵𝗮𝗿𝗲𝗱 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗺𝗶𝘀𝘀𝗶𝗼𝗻𝘀 🛒🍴. Tom delivered a brilliant presentation, highlighting how retail businesses such as Hotel Chocolat, Holland & Barrett, and M&S are focusing on shared missions and expanding their offers into hospitality. There’s undoubtedly 𝗹𝗼𝘁𝘀 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲 𝗵𝗼𝘀𝗽𝗶𝘁𝗮𝗹𝗶𝘁𝘆 𝘀𝗲𝗰𝘁𝗼𝗿 𝗰𝗮𝗻 𝗹𝗲𝗮𝗿𝗻 𝗳𝗿𝗼𝗺 𝗿𝗲𝘁𝗮𝗶𝗹 𝗮𝗻𝗱 𝘃𝗶𝗰𝗲 𝘃𝗲𝗿𝘀𝗮 🔄, and it’s very clear that 𝗠&𝗦 𝗮𝗿𝗲 𝗹𝗲𝘃𝗲𝗿𝗮𝗴𝗶𝗻𝗴 𝘁𝗵𝗲𝗶𝗿 𝗿𝗲𝘁𝗮𝗶𝗹 𝘀𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝘀 𝗮𝗻𝗱 𝗯𝗿𝗶𝗻𝗴𝗶𝗻𝗴 𝘁𝗵𝗲𝘀𝗲 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲 𝗵𝗼𝘀𝗽𝗶𝘁𝗮𝗹𝗶𝘁𝘆 𝘀𝗲𝗰𝘁𝗼𝗿. The lines are definitely blurring, which is to be expected when it’s ultimately the same customer that operators are competing for from a share of wallet perspective 💳. It will be fascinating to see how things evolve in the years ahead. Will we see more operators from the world of retail entering the hospitality sector? 𝗧𝗼 𝘄𝗵𝗮𝘁 𝗲𝘅𝘁𝗲𝗻𝘁 𝘄𝗶𝗹𝗹 𝘁𝗵𝗲 𝗹𝗶𝗻𝗲𝘀 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘁𝗼 𝗯𝗹𝘂𝗿? 𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗵𝗲𝗮𝗿 𝘆𝗼𝘂𝗿 𝘁𝗵𝗼𝘂𝗴𝗵𝘁𝘀 🤔. #hospitalitytrends #UKHospitality #lunch24

Which retail sector came out on top in March? Food & Drink were the clear winners throughout the month! 🍽️ Hospitality saw a rise in sales from March 2023 of 7.6% 🙌 This increase was driven by 3 key metrics: ✅ Number of transactions ✅ Number of customers ✅ Average transaction value However, it was the ATV that recorded the greatest annual uplift in March with a 5.3% increase. Which was more than double the uplift of the other two metrics, indicating that consumers opted for hospitality venues with a higher price point! Follow us for more detailed insights to help inform your BID. #RetailSpendInsigts #BIDs

There was no process. When I started managing the group sales at a major restaurant brand, there was no such thing. There was no CRM. No menu. No contract. No pricing structure. And no delivery process. It became clear to me that for the restaurant to be successful, we needed solid, repeatable processes. Along with a brilliant operations team, we developed what we needed to be able to book more group events at the downtown restaurant. The rollout wasn't without it's bumps, but we got the program going. Then it was time to scale. In the food and beverage industry, especially for large brands, consistency is everything. The challenge was clear: how could we handle group event requests efficiently and consistently across multiple locations/regions? More time refining the process. More time developing regional pricing structures, more time training the sales and operations teams, until finally…we did it. We expanded from one unit to over 30. The group sales program scaled only because we put processes in place. From lead to booking to delivery, our guests experienced a cohesive process of hospitality. And within that structure, we were able to create extraordinary moments of event hospitality for our guests. It provided the opportunity for performance. All because we prioritized process development. At the risk of sounding obtuse, I say, the structure is the receptacle within which we pour our dreams. It was one of the most fun times in my career. What processes are you creating and refining and dreaming up right now? How do they help you dream bigger? #salesprocess #eventprofs #salesprofs #hospitality #independentvenue #venue #restaurants #groupsales (Throwback pic of me when I worked for the aforementioned company. Gosh, I was so young!)

𝗛𝗼𝘀𝗽𝗶𝘁𝗮𝗹𝗶𝘁𝘆 𝘀𝗮𝗹𝗲𝘀 𝗴𝗿𝗲𝘄 𝟲.𝟵% 𝘆𝗲𝗮𝗿-𝗼𝗻-𝘆𝗲𝗮𝗿 during the 12 weeks ending 2 January 2024. The best performing sectors were Fastfood & Takeaway and Coffee & Sandwich, which have consistently been amongst the best performers over the last year. Encouragingly, 𝗣𝘂𝗯𝘀 & 𝗕𝗮𝗿𝘀 𝗮𝗻𝗱 𝗢𝘁𝗵𝗲𝗿 𝗥𝗲𝘀𝘁𝗮𝘂𝗿𝗮𝗻𝘁𝘀 𝗮𝗿𝗲 𝘀𝗲𝗲𝗶𝗻𝗴 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗱 𝗴𝗿𝗼𝘄𝘁𝗵 𝗿𝗮𝘁𝗲𝘀 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗮 𝘀𝘁𝗿𝗼𝗻𝗴 𝗖𝗵𝗿𝗶𝘀𝘁𝗺𝗮𝘀 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 𝗽𝗲𝗿𝗶𝗼𝗱, reflecting the desire of consumers to enjoy social occasions with family and friends, something which the hospitality sector is so geared up for. Casual Dining is the only sector over the last 12 weeks to see its sales decline, with the challenges of many operators in this space being well publicised. It’s worth recognising though that there are winners and losers right across the market; something which we’re able to see when delving into the detail of the performance of individual chains and/or site level performance. 🏆📉📊🔍 Our card spending data tracks the spend of 10.2 million people across 180,000 individually identifiable hospitality venues, enabling us to accurately track the UK hospitality market overall and provide unique insights all the way down to individual site level. 📊🏨 Please get in touch if you’d like to find out more: hello@hdinsights.com 📧 #HospitalityData #hospitalitytrends #ukhospitality 

Our Hospitality Retailing Trends 2024 report is out! Discover the top trends and insights to maximize hotel revenue. 📈 📊 Key insights: - Reshaping retail offerings - Leveraging spaces for traffic and sales - Boosting revenue with ancillary sales and gift cards - Expanding through partnerships Don't get left behind...download your copy now! 👇 #HotelRevenue #HotelRetailing #MaximizeRevenue