My Brainbench Transcript of Free Exams

You have my full transcript of BrainBench Inc testing

My Brainbench Transcript of Free Exams

You have my full transcript of BrainBench Inc testing

Read more »

GE: Ecomagination Challenge: Home

<a href="http://challenge.ecomagination.com/ideas?sms_ss=blogger">GE: Ecomagination Challenge: Home</a>

GE: Ecomagination Challenge: Home

GE: Ecomagination Challenge: Home

Read more »

KPI for Hospitality Business

Important Calculations (BI) for Hospitality<br /><br /><br /><br />Key Performance Indicators (KPI) for Hospitality industry help remove the guesswork from managing the business by checking the numbers that tell what’s really happening.<br />There’s a business saying: ‘If you can’t measure it, you can’t manage it!’ Real, responsive management needs reliable and truthful figures on which decisions can be based. If there are problems, you can take corrective action quickly. If you are having success, you’ll know to do more of what you’re doing! Good figures also give you a wider understanding of your success – sometimes if it’s a quiet month (when your suppliers are telling you that ‘everyone’s quiet!’) you’ll see that some of your KPIs are actually improving (ex. sales per head).<br />KPIs in Hospitality industry can be categorized for functions like Reception, Housekeeping, Maintenance, Kitchen, Restaurant, Sales, Store, Purchasing, etc.<br />Staff KPI:<br />- Wage Cost %: wage costs as a percentage of sales<br />- Total Labour Cost %: not just wages but also the other work cover insurance, retirement and superannuation charges and other taxes that apply on your payroll<br />- Total Labour Hours: how many hours worked in each section. This is useful to compare against sales to measure productivity<br />- Event Labour charge-out: Hotels usually charge-out service staff at a markup on the cost of the wages paid. Are you achieving a consistent mark-up?<br />- Labour turnover: number of new staff in any one week or month<br />- Average length of employment: another way to look at your success in keeping staff. Add up the total number of weeks all your people have worked for you and divide this by the total number of staff<br />- Average hourly pay: divide the total payroll by the number of hours worked by all staff<br />Kitchen Management KPI:<br />- Food Cost %: measured by adding up food purchases for the week and measuring them against your food sales<br />- Total Food Costs: how much was total food bill? Sometimes a useful figure to show staff who think you are made of money<br />- Food Costs per head: see every week how much it costs to feed an average customer<br />- Kitchen Labour %: measure kitchen productivity by comparing kitchen labour against food sales<br />- Kitchen Labour hours: how many hours worked in this section? Compare against sales to measure productivity<br />- Stock value: food stock holding- It should be less than a week’s use, but can slip out if you are storing frozen food<br />- Main selling items: weekly sales from POS or dockets & know the best sellers and map these on the Menu Profitability<br />- Kitchen linen costs: cost of uniforms, aprons & tea-towels can be a shock! How many tea-towels are being used each day?<br />Front House Management KPI:<br />- Total Sales Per Head: total sales divided by number of customers. This may vary between different times of the day<br />- Number of customers: simple! A good measure of popularity<br />- Food, Dessert, Beverage Sales per head: how much your menu appeals to your customers (do you have all the choices they want), & how well your staff are selling.<br />- Seating Efficiency: how well are tables being turned over while still offering high quality customer service<br />- Basket Analysis: how many items do lunch customers buy? What else do morning coffee drinkers order? Grab a pile of dockets and look for ordering patterns<br />- Linen costs: uniforms, aprons etc.<br />- Front of House Labour %: how many hours worked in this section? Compare against sales to measure productivity<br />- FOH Labour hours: how many hours worked in this section? Compare against sales to measure productivity<br />- Customer satisfaction: Feedback forms, complaints and other methods that are hard to quantify sometimes but worth making an attempt.<br />- Strike rate: if 500 people came to hotel last night & only 100 ate at the bistro, your ’strike rate’ would be 1 in 5, or 20%<br />- RevPASH Revenue per Available Seat Hour: take the total number of ’seat hours’ and divide total revenue for a period by this number<br />Bar & Restaurant Management KPI:<br />- Sales per head: how much your beverage and wine appeals to your customers and how well your staff are selling<br />- Gross Profit on sales: difference between what you sold and what it cost you. The sales mix can influence this heavily<br />- Average Profit % on sales: useful to see if your sales are holding steady, although ultimately the actual Gross Profit (real money) will matter the most<br />- Stock value: It’s worth checking with your suppliers and seeing how much you can order ‘just in time’<br />- Stock turnover: how fast is your cellar stock selling?<br />- Carrying cost of stock: what is the cost of financing the stock?<br />- Sales / stock-take discrepancies: Alcohol is security problem, & keeping an eye on ’shrinkage’, staff drinks and stealing a constant problem<br />Banquet Sales Management KPI:<br />- Number of customers: simple! A good measure of popularity.<br />- Visits by your top 100 or 200 customers: they provide a huge proportion of your sales! Track their frequency and spending – these people are gold!<br />- Sales per head: across all areas<br />- Marketing and advertising costs: total value of spend, always trying to measure it against response<br />- Response rates: how many people responded to different campaigns and what effect did this have on profit?<br />- Press mentions: keeping your eyes open for favourable mentions<br />- Bookings: in the current week and month and coming up. Also in peak times, eg Christmas.<br />- Event inquiries: No. of inquiries about large bookings & functions, especially if a campaign to promote them is on<br />- Sales inquiry conversion rate: No. of inquiries that turn into actual sales. why so few people were ‘converted’ – was it the quality of the promotional material, skill of the sales staff, pricing or make-up of your function menus and facilities?<br />Finance & Admin Management KPI:<br />- Cash position at bank: how much do you have available after reconciling your cheque book?<br />- Stock-take discrepancies: measure of efficiency of each department, but also of administrative systems in place<br />- Total accounts due: how much do you owe?<br />- Total accounts payable: needs careful management if you have accounts, eg large restaurants<br />- Return on Investment: profit business makes can be measured as a percentage return on the amount invested in it<br />- Taxes owed: to know how much is owed at any one time so it is not ’spent’<br />- Sales & costs: actual figures compared to what budgeted for a period<br />- Administration labour costs: strong and skilful administrative support will be essential to manage the KPIs listed above!<br />- IT efficiency: how much down-time for IT systems? How accurate is the POS system?<br />Other KPIs:<br />- Revenue per available room<br />- Average daily rate of rooms<br />- % of occupancy of rooms<br />- Average cleaning costs per room<br />- % of reservation requests cancelled with / without penalty<br />- % of rooms with maintenance issues<br />- % of cancelled reservation requests<br />- Average number of guests per room<br />- Average length of stay of guests<br />- % of non-room revenue<br />- % of cancelled rooms occupied<br />- Kilowatt-hours (kwh) per room<br />- Number of hotel guests per employee<br />- Gross operating profits per available room<br />- % of guests who would rank stay as exceeding expectations<br />- Waste per night per occupied bed space<br />Provided by: Maia Intelligence, edited by: Besim Ismaili

KPI for Hospitality Business

Important Calculations (BI) for Hospitality Key Performance Indicators (KPI) for Hospitality industry help remove the guesswork from managin...

Read more »