How to build a winning hotel food

& beverage strategy.

ATYPICAL AGENCY

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October 29, 2021
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The world we’re living in is evolving at the speed-of-light. While brand

building has always been at the mercy of generational zeitgeist, over the past
eighteen months the hospitality and hotel sectors have been pushed to work
harder than ever before in order to survive the devastating blow of COVID-19
and be resilient in a time that cannot be sugar-coated: it sucked. While
businesses are still navigating the turbulence and finding their feet, preparing
for recovery from a financial, operational and marketing standpoint is the only
way forward. Consumers on the other hand have adjusted to this extreme
change and are looking for ways to find enjoyment. After months of being
locked inside, people want to get out, explore, experience and spend money.

The best revenue opportunities for hotels is within their food and beverage
strategy – your establishment needs to offer not only exceptional experiences,
but also more value and added services for your guests (and non-guests).
Good news is, the creative control you have is boundless. Today’s experience-
driven consumer is increasingly influenced by the “why” more than any other
factor when faced with purchase decisions – so in order to be memorable with
your target audience, it’s imperative to have a winning food and beverage
strategy that defines and establishes exactly what your clientele can expect
from your business and what distinguishes your hotel from the rest.

Not sure where to start? That’s where we come in – read on for some notable
points that will help build a stellar hospitality offering:
Celebrate Seasons

Food is a love language – how are you creating experiences that celebrate
this? A good place to start is to think about how your F&B strategy can tie-in
with holidays, celebrations, seasons and special events.

Highlighting your menu while launching limited edition offerings that are
aligned to specific events will ensure your establishment remains fresh. Bonus
points if you transfer this through other divisions of your hotel to create multi-
sensory experiences.

Get Social

The past eighteen months have turbocharged the pace in which brands
innovate digitally and on social media. Consumers are actively seeking how-
to-videos, masterclasses and content they can consume online or IRL, so it is
imperative you have a winning social media plan to complement and highlight
your food and beverage strategy. Have your chef host a weekly cooking class,
invite your bar manager to lead a mixology class or provide easy recipes or
meal kits that are twists on your hero menu-items so people can enjoy a taste
at home.

A Good Experience Is Invaluable

When it comes to your food and beverage strategy, the driving force behind
what can make or break it is experience. Restaurants that are leaders in
customer service are able to deliver exponentially higher return than those
that have poorly trained staff or systems – it’s vital to ensure your hotel has a
strong company culture, the staff are experts within their fields (and love their
job) and your processes are bulletproof.

Understand Your Clients

The hotel industry is endlessly competitive – we know this, we’ve discussed

this – but you also need to consider that your target audience is vast and
complex. When building your food and beverage strategy you need to
understand the individuals you’re trying to reach – who are they, what do they
do, what do they like to eat and drink, why do they come to you – and then
create personas to reflect each of the segments. The goal to understanding
your audience is to ensure every aspect of your F&B strategy resonates with
them – ranging the restaurants and bars you have, the in-room dining and
experiences, approach to sustainability, style and aesthetic.

Collaboration is King
Having a solid network and business alliances is an advantage in every
industry as it helps gain referrals, expand reach and increase your customer
base. Understanding your network in building a food and beverage strategy
comes down to aligning your hotel and creating commercial allies with
people, groups, businesses and brands that have the same philosophy and
ethos as you. For example, if you want to position your establishment as
culturally trendy, then forming partnerships with brands that represent this
will drive that momentum, such as local suppliers, artisan spirits brands and
up-and-coming celebrity chefs.

Whether you’re re-branding your food and beverage strategy to reflect the
changing world or gearing up to launch a new establishment, to launch a
concept that it compelling you need to be consistent, authentic and focused.
Guests gravitate towards a strong brand that clearly identifies its target
market, is transparent on who they are and deliver on their promises.

What is strategic planning? 5

steps and processes
 Julia Martins•October 6th, 2022•10 min read
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. What is a strategic plan?
. Do I need a strategic plan?
. When should I create a strategic plan?
. What are the 5 steps in strategic planning?
. The benefits of strategic planning
. Sticking to the strategic plan
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Summary

A strategic plan helps you define and share the direction your company will
take in the next three to five years. It includes your company’s vision and
mission statements, goals, and the actions you’ll take to achieve those goals.
In this article we describe how a strategic plan compares to other project and
business tools, plus four steps to create a successful strategic plan for your
company.

Strategic planning is when business leaders map out their vision for the
organization’s growth and how they’re going to get there. Strategic plans
inform your organization’s decisions, growth, and goals. So if you work for a
small company or startup, you could likely benefit from creating a strategic
plan. When you have a clear sense of where your organization is going,
you’re able to ensure your teams are working on projects that make the most
impact.
The strategic planning process doesn’t just help you identify where you need
to go—during the process, you’ll also create a document you can share with
employees and stakeholders so they stay informed. In this article, we’ll walk
you through how to get started developing a strategic plan.

What is a strategic plan?

A strategic plan is a tool to define your organization’s goals and what actions
you will take to achieve them. Typically, a strategic plan will include your
company’s vision and mission statements, your long-term goals (as well as
 short-term, yearly objectives), and an action plan of the steps you’re going to
take to move in the right direction.

Your strategic plan document should include:



Your company’s vision




Your company’s mission statement




Your company’s goals




A plan of action to achieve those goals




Your approach to achieving your goals




The tactics you’ll use to meet your goals



An effective strategic plan can give your organization clarity and focus. This
level of clarity isn’t always a given—according to our research, only 16% of
knowledge workers say their company is effective at setting and
communicating company goals. By investing time into strategy formulation,
you can build out a three- to five-year vision for the future of your company.
This strategy will then inform your yearly and quarterly company goals.
Create strategic planning template

Do I need a strategic plan?

A strategic plan is one of many tools you can use to plan and hit your goals. It
helps map out strategic objectives and growth metrics. Here’s how a strategic
plan compares to other project management and business tools.
 Strategic plan vs. business plan
A business plan can help you document your strategy as you’re getting
started so every team member is on the same page about your core business
priorities and goals. This tool can help you document and share your strategy
with key investors or stakeholders as you get your business up and running.
You should create a business plan when you’re:


Just starting your business




Significantly restructuring your business



If your business is already established, consider creating a strategic plan

instead of a business plan. Even if you’re working at a relatively young
company, your strategic plan can build on your business plan to help you
move in the right direction. During the strategic planning process, you’ll draw
from a lot of the fundamental business elements you built early on to establish
your strategy for the next three to five years.
Key takeaway: A business plan works for new businesses or large
organizational overhauls. Strategic plans are better for established
businesses.

Strategic plan vs. mission and

vision statements
Your strategic plan, mission statement, and vision statements are all closely
connected. In fact, during the strategic planning process, you will take
inspiration from your mission and vision statements in order to build out your
strategic plan.
As a result, you should already have your mission and vision statements
drafted before you create a strategic plan. Ideally, this is something you
created during the business planning phase or shortly after your company
started. If you don’t have a mission or vision statement, take some time to
create those now. A mission statement states your company’s purpose and it
 addresses what problem your organization is trying to solve. A vision
statement states, in very broad strokes, how you’re going to get there.
Simply put:


A mission statement summarizes your company’s purpose




A vision statement broadly explains how you’ll reach your company’s purpose


A strategic plan should include your mission and vision statements, but it
should also be more specific than that. Your mission and vision statements
could, theoretically, remain the same throughout your company’s entire
lifespan. A strategic plan pulls in inspiration from your mission and vision
statements and outlines what actions you’re going to take to move in the right
direction.
For example, if your company produces pet safety equipment, here’s how
your mission statement, vision statement, and strategic plan might shake out:


Mission statement: “To ensure the safety of the world’s animals.”




Vision statement: “To create pet safety and tracking products that are
effortless to use.”


Your strategic plan would outline the steps you’re going to take in the next few
years to bring your company closer to your mission and vision. For example,
you develop a new pet tracking smart collar or improve the microchipping
experience for pet owners.
Key takeaway: A strategic plan draws inspiration from your mission and vision
statements.

Strategic plan vs. company

objectives
 Company objectives are broad goals. You should set these on a yearly or
quarterly basis (if your organization moves quickly). These objectives give
your team a clear sense of what you intend to accomplish for a set period of
time.
Your strategic plan is more forward-thinking than your company goals, and it
should cover more than one year of work. Think of it this way: your company
objectives will move the needle towards your overall strategy—but your
strategic plan should be bigger than company objectives because it spans
multiple years.
Key takeaway: Company objectives are broad, evergreen goals, while a
strategic plan is a specific plan of action.

Strategic plan vs. business case

A business case is a document to help you pitch a significant investment or
initiative for your company. When you create a business case, you’re outlining
why this investment is a good idea, and how this large-scale project will
positively impact the business.
You might end up building business cases for things on your strategic plan’s
roadmap—but your strategic plan should be bigger than that. This tool should
encompass multiple years of your roadmap, across your entire company—not
just one initiative.
Key takeaway: A business case tackles one initiative or investment, while a
strategic plan maps out years of overall growth for your company.

Strategic plan vs. project plan

A strategic plan is a company-wide, multi-year plan of what you want to
accomplish in the next three to five years and how you plan to accomplish
that. A project plan, on the other hand, outlines how you’re going to
accomplish a specific project. This project could be one of many initiatives
that contribute to a specific company objective which, in turn, is one of many
objectives that contribute to your strategic plan.
A project plan has seven parts:


Goals



Success metrics



Stakeholders and roles




Scope and budget




Milestones and deliverables




Timeline and schedule




Communication plan


Key takeaway: You may build project plans to map out parts of your strategic
plan.

When should I create a

strategic plan?
You should aim to create a strategic plan every three to five years, depending
on your organization’s growth speed. That being said, if your organization
moves quickly, consider creating one every two to three years instead. Small
businesses may need to create strategic plans more often, as their needs
change.
Since the point of a strategic plan is to map out your long-term goals and how
you’ll get there, you should create a strategic plan when you’ve met most or
all of them. You should also create a strategic plan any time you’re going to
make a large pivot in your organization’s mission or enter new markets.
Create strategic planning template
What are the 5 steps in
strategic planning?
The strategic planning process should be run by a small team of key
stakeholders who will be in charge of building your strategic plan.
Your group of strategic planners, sometimes called the management
committee, should be a small team of five to 10 key stakeholders and
decision-makers for the company. They won’t be the only people involved—
but they will be the people driving the work.
Once you’ve established your management committee, you can get to work
on the strategic planning process.
 Step 1: Determine where you are
Before you can get started with strategy development and define where you’re
going, you first need to define where you are. To do this, your management
committee should collect a variety of information from additional stakeholders
—like employees and customers. In particular, plan to gather:


Relevant industry and market data to inform any market opportunities, as well
as any potential upcoming threats in the near future



Customer insights to understand what your customers want from your

company—like product improvements or additional services



Employee feedback that needs to be addressed—whether in the product,

business practices, or company culture



A SWOT analysis to help you assess both current and future potential for the
business (you’ll return to this analysis periodically during the strategic
planning process).


To fill out each letter in the SWOT acronym, your management committee will
answer a series of questions:
Strengths:


What does your organization currently do well?




What separates you from your competitors?




What are your most valuable internal resources?




What tangible assets do you have?




What is your biggest strength?



Weaknesses:


What does your organization do poorly?




What do you currently lack (whether that’s a product, resource, or process)?




What do your competitors do better than you?




What, if any, limitations are holding your organization back?




What processes or products need improvement?



Opportunities:


What opportunities does your organization have?




How can you leverage your unique company strengths?




Are there any trends that you can take advantage of?



How can you capitalize on marketing or press opportunities?




Is there an emerging need for your product or service?



Threats:

 What emerging competitors should you keep an eye on?



Are there any weaknesses that expose your organization to risk?




Have you or could you experience negative press that could reduce market
share?



Is there a chance of changing customer attitudes towards your company?



Step 2: Identify your goals and

objectives
This is where the magic happens. To develop your strategy, take into account
your current position, which is where you are now. Then, draw inspiration from
your original business documents—these are your final destination.
To develop your strategy, you’re essentially pulling out your compass and
asking, “Where are we going next?” This can help you figure out exactly which
path you need to take.
During this phase of the planning process, take inspiration from important
company documents to ensure your strategic plan is moving your company in
the right direction like:


Your mission statement, to understand how you can continue moving towards
your organization’s core purpose



Your vision statement, to clarify how your strategic plan fits into your long-
term vision



Your company values, to guide you towards what matters most towards your
company



Your competitive advantages, to understand what unique benefit you offer to

the market



Your long-term goals, to track where you want to be in five or 10 years




Your financial forecast and projection, to understand where you expect your
financials to be in the next three years, what your expected cash flow is, and
what new opportunities you will likely be able to invest in


Step 3: Develop your plan

Now that you understand where you are and where you want to go, it’s time to
put pen to paper. Your plan will take your position and strategy into account to
define your organization-wide plan for the next three to five years. Keep in
mind that even though you’re creating a long-term plan, parts of your strategic
plan should be created as the quarters and years go on.
As you build your strategic plan, you should define:


Your company priorities for the next three to five years, based on your SWOT
analysis and strategy.



Yearly objectives for the first year. You don’t need to define your objectives for
every year of the strategic plan. As the years go on, create new yearly
objectives that connect back to your overall strategic goals.



Related key results and KPIs for that first year. Some of these should be set
by the management committee, and some should be set by specific teams
that are closer to the work. Make sure your key results and KPIs are
measurable and actionable.


 Budget for the next year or few years. This should be based on your financial
forecast as well as your direction. Do you need to spend aggressively to
develop your product? Build your team? Make a dent with marketing? Clarify
your most important initiatives and how you’ll budget for those.



A high-level project roadmap. A project roadmap is a tool in project

management that helps you visualize the timeline of a complex initiative, but
you can also create a very high-level project roadmap for your strategic plan.
Outline what you expect to be working on in certain quarters or years to make
the plan more actionable and understandable.


Step 4: Execute your plan

After all that buildup, it’s time to put your plan into action. New strategy
execution involves clear communication across your entire organization to
make sure everyone knows their responsibilities and how to measure the
plan’s success.
Map your processes with key performance indicators, which will gauge the
success of your plan. KPIs will establish which parts of your plan you want
achieved in what time frame.
A few tips to make sure your plan will be executed without a hitch:


Align tasks with job descriptions to make sure people are equipped to get their
jobs done



Communicate clearly to your entire organization throughout the

implementation process



Fully commit to your plan


 Step 5: Revise and restructure as
needed
At this point, you should have created and implemented your new strategic
framework. The final step of the planning process is to monitor and manage
your plan.
1.

Share your strategic plan—this isn’t a document to hide away. Make sure your
team (especially senior leadership) has access to it so they can understand
how their work contributes to company priorities and your overall strategic
plan. We recommend sharing your plan in the same tool you use to manage
and track work, so you can more easily connect high-level objectives to daily
work. If you don’t already, consider using a work management tool.
2.
3.

Update your plan regularly (quarterly and annually). Make sure you’re using
your strategic plan to inform your shorter-term goals. Your strategic plan also
isn’t set in stone. You’ll likely need to update the plan if your company decides
to change directions or make new investments. As new market opportunities
and threats come up, you’ll likely want to tweak your strategic plan to ensure
you’re building your organization in the best direction possible for the next few
years.
4.

Keep in mind that your plan won’t last forever—even if you do update it
frequently. A successful strategic plan evolves with your company’s long-term
goals. When you’ve achieved most of your strategic goals, or if your strategy
has evolved significantly since you first made your plan, it might be time to
create a new one.

The benefits of strategic

planning
Strategic planning can help with goal-setting by allowing you to explain how
your company will move towards your mission and vision statements in the
 next three to five years. If you think of your company trajectory as a line on a
map, a strategic plan can help you better quantify how you’ll get from point A
(where you are now) to point B (where you want to be in a few years).
When you create and share a clear strategic plan with your team, you can:


Align everyone around a shared purpose




Proactively set objectives to help you get where you want to go




Define long-term goals, and then set shorter-term goals to support them



Assess your current situation and any opportunities—or threats




Help your business be more durable because you’re thinking long-term




Increase motivation and engagement



Sticking to the strategic plan

To turn your company strategy into a plan—and ultimately, impact—make
sure you’re proactively connecting company objectives to daily work. When
you can clarify this connection, you’re giving your team members the context
they need to get their best work done.
With clear priorities, team members can focus on the initiatives that are
making the biggest impact for the company—and they’ll likely be more
engaged while doing so.