The Food & Beverage Outlook H1, 2024: The Opportunities & Challenges To Stand Out.
In the first edition of our Food & Beverage Report, we explore the first half results in the UK & US using data by HotStats and look at the opportunities to tackle the challenges that the numbers present. From rising operational costs to changing consumer behaviour and the growing demand for personalised experience, this report offers a roadmap to help hotels adapt and thrive in a competitive market.
The Food & Beverage Industry’s Road to Recovery in 2024
As the hospitality industry recovers from the impact of the pandemic, many hotels are still grappling with challenges like labour shortages and increasing operating costs. While F&B revenue is showing a slight growth on 2023, the reality is that this is largely driven by inflation and price increases being passed onto the consumer, meaning hoteliers must rethink their strategies for improving guest experiences and what business they are willing accept.
Hotels are facing new challenges, but there’s real opportunity to embrace innovation and bring back the essence of traditional hospitality.
— Scot Turner, Founder & Managing Director of Auden Hospitality
The New Generation Are Changing The Landscape
One of the strongest themes highlighted in our report is the increasing influence of Millennials and Gen Z on the food and beverage sector. These younger consumers prioritise unique dining experiences and make F&B offerings a key factor in their hotel booking decisions. According to a survey by the American Lodging Association, 65% of travellers now consider a hotel’s food and beverage options as a major part of their stay, up from 60% in 2022.
This shift highlights the need for hotels to innovate and elevate their culinary offerings to attract this growing market.
Today’s travellers expect more than just food—they seek memorable experiences that align with their values
2025: A Year of Opportunity
While F&B profitability remains a challenge, 2025 is going to be a pivotal year for food & beverage to move the needle positively. With cost bases stabilising, it presents a unique focus on building momentum in revenue growth; the report highlights the opportunities to transform their numbers by focusing on experience and reviewing what sets them apart from the competition.
2025 is the year to rethink the traditional model and deliver exceptional guest experiences. It’s the time to think differently and rewrite the rules of F&B.
Download the Full 2024 Food & Beverage Report
Curious to learn more? Our Food & Beverage Report H1, 2024 provides and in-depth look at emerging trends, operational strategies and actionable insights to help hotels get ahead of the curve.
Download the full report today.
Food & Beverage Report.
Uncover the latest trends and in-depth data driving the F&B industry in the UK and US for the first half of 2024 - Download the full report now.
Make it stand out
Key highlights:
F&B recovery is gaining momentum post-pandemic.
Why C&B is affecting overall F&B performance.
Raising operational costs continue to impact margins.
Younger travellers demand unique and innovative F&B experiences.
2025 is set to be a transformative year for the industry.
Hotels must embrace bold, experience-driven strategies to thrive.