How to Prepare Your Hospitality Business for Seasonal Demand with Expert Help?

The consumer demands in the hospitality industry is always fluctuating, depending on the time of the year, geographical location, and services. While some fluctuations are seasonal and can be predicted with a degree of accuracy, others can be more challenging and unforeseen. Hiring external help, such as hospitality consultants, can help mitigate most of these issues.

A consultant has experience in boosting footfall during holidays, festivals, school breaks, and other occasions. They can also tap into local events, pulling tourists and travellers and ensure adequate staffing when the seasonal demand is high.

Read on to learn how hospitality consultants can help your business stay on top of fluctuations in seasonal demand and remain profitable.

Best Practices to Cater to Changes in Demand

Remember that consumer preferences, trends, and demand will be high and low. All this is out of your control. However, hiring external experts can help you navigate through this imbalance. Here is how:

Inventory Management:

Inventory management is often an overlooked aspect in the hospitality industry, especially for high-volume establishments. A consultant can provide regular stocktakes to control and manage all stocks. A consultant will:

• Frequently monitor stocks and forecast both perishable and non-perishable items
• Adopt efficient inventory management practices to improve processes and operational efficiency
• Diversify suppliers & create strategies and projections for pre-purchasing before peak season
• Regularly audit inventory to identify low-selling items while improving profitability per product
• Recommend and implement a point-of-sale inventory management system
• Identify business waste & take steps to minimise losses

Refine Operations & Services:

You would be amazed at how simple changes in your internal practices can result in massive benefits. To make your hospitality business demand-proof, a consultant will:

• Create a memorable, unique, and personalised customer experience
• Offer flexible booking & cancellation options, including contactless payments & self-service check-ins
• Implement health and safety measures
• Maintain wider menu options while keeping in mind dietary needs & culinary innovation
• Focus on sustainability by using local & fresh ingredients

Cash Flow Management:

Improving cash flow with efficient revenue management is also key to keeping up with changing demand. Here is how a consultant can help:

• Analysing data to understand your business revenue cycle and make forecasts
• Tracking data to manage cash inflow and outflow and comparing them against projections
• Identifying unnecessary spending to curtail losses
• Creating strategies for menu pricing based on customer demand, competitor analysis, and market trends
• Streamline staffing during low-demand periods for maximum efficiency
• Creating tactics to pull customers during low season, including cheaper prices, fewer crowds, and a more personalised experience.

Staffing & Training

Staffing issues can be daunting for hospitality operators. Understaffing can affect service quality and lead to negative reviews while overstaffing can cause budget problems. A consultant will do the following to prepare you for the busiest seasons:

• Plan for upcoming using historical sales data as well as local and industry trends
• Create a recruitment strategy and drive to pull in staff for peak seasons
• Advertising job opportunities and partnering with training providers
• Streamline interviews
• Conducting cross-staff training to fill gaps efficiently and distribute job roles
• Improving internal practices & work culture
• Rewarding employees for good performance and positive customer reviews
• Using software for staff scheduling
• Monitor overall employee performance, seek their feedback, and make informed decisions to optimise the approach

Navigate Seasonal Demands with Hospitality Partners

Need experts for risk management for your hospitality business?

Look no further than Hospitality Partners. We have a reputation of helping hospitality operators achieve long-term profitability and a boosted brand equity. From regular stocktaking to revenue management, staff training to marketing aid, we have expert consultants with decades of experience in providing full-service benefits to hospitality businesses.

Contact us today to learn how we can help your establishment thrive in an ever-changing industry.