Having been appointed as the stock audit partner in March 2019, our designated auditor quickly started working with the team at the hotel to help them on their improvement journey with Abbey 5 Star.
Working alongside the regional General Manager and the Beverage team on site we took an initial inventory of stock to enable us to have a good starting point.
Once going through the hotels invoices it became very clear that not only were the hotel using a supplier not normally associated with beverage purchasing but using our cost price benchmarking and industry knowledge, we could see they were paying over the odds.
We then worked with the team at the hotel discussing the expected prices they should be looking to purchase inventory at and were able to recommend different suppliers some local and some national that they could be using to not only reduce purchasing costs but allow the hotel to become more profitable as a business.Â
As well as working through purchaser recommendations we spent time with the team going through best practices for the bar operation as well as helping our partner to complete a product and price review on the bar to further enhance Gross Profit once the new suppliers were in place.
Over the next two visits as these supplier changes were made and old stock was replaced the hotel’s Gross Profit increased by over 25% making for a more profitable business.
