We work with a lot of hotel managers as independent stocktakers. In most cases our hotel clients experience at least 3% added to their margin when they engage with independent hotel stocktakers. This often occurs because the independent hotel stocktaker will help the hotel manager see what the potential margin could be and how to achieve it.
This is done in the following ways;
An independent hotel stocktaker helps hotel owners understand yield as an important control aspect. It can help in analysing and improving margins. This is because it is ‘yield’ that puts the money in the bank. Yield is worked out on full potential margin at full bar tariff prices. This is taken before any allowances or discounts are taken into account. For example, if you sell everything at full bar tariff and there are no discounts or wasted stock, then your yield will be 100%.
All stock reports from an experienced hotel stocktaker will include variance reports. These variance reports will help the hotel owner clearly see where there are stock losses and if these are recurring. The report also helps identify losses on individual products. Your independent hotel stocktaker will offer advice and guidance as to why there are losses on the variance reports and how these can be overcome. The losses could be down to employee theft, poor staff training, excessive wastage on draught beer, etc.
The stock report for your hotel should include liquor stockholding. As experienced hotel stocktakers we would recommend that this report should be completed on a monthly basis, ideally every 26 to 30 days. This is because the report will highlight high stockholding and give you a detailed report of products line by line. This will help you in indentifying products to reduce stockholding of.
An independent hotel stocktaker will also be able to improve your margin by highlighting short dates on products. This means that these products can be used in other ways to reduce the risk of wastage and harm to your bottom line.