Such cost-cutting strategies include more efficiently staffing restaurants, revamping room service and banquet meals, and buying cheaper ingredients.

Optimizing menus for profitability and keeping tight control of F&B costs is also a must. A total of 60% of respondents to the NYC Hospitality Alliance survey reported that they will rework their F&B menus to reduce costs.

Related: Hotel F&B plays a critical part in overall brand value