Event Planning as a Hospitality Career
Mega-event planning is a niche within the hospitality industry that requires a specialized skill set and knowledge that takes years of experience to master. For hotels, having space dedicated to private events is a way to increase profitable business opportunities. Generally, private banquets/events are used to celebrate something and therefore higher priced food, beverage, and décor are usually desired. As seen in the video, Gaylord Opryland Resort & Convention Center has this down to an exact science.
Banquets can come in all shapes and sizes. Some examples of banquets would be: a fundraiser for a non-profit foundation such as the American Cancer Society, an annual convention for a trade group such as National Electrical Contractors Association, an alumni gala for a school such as the Charter Gala for the University of California, a wedding, a bar/bat mitzvah celebration, and such smaller events like business meetings & luncheons, to a networking group cocktail party, and holiday parties for businesses and private groups.
Having the ability to host these types of events at a hotel property allows for an additional source of revenue that is often times more profitable than other food and beverage sources in a hotel. Some of the reasons for this increased profitability come from having the details finalized in advance and therefore knowing what to expect. In a restaurant operation, there is no telling of how many covers may or may not come in during a specified meal period. By having a guarantee on a banquet contract, labor can be efficiently scheduled in advance. This will cutback on overtime hours and over/under staffing for that day and for the days before & after for kitchen staff as well as FOH staff. Additionally, having the final guaranteed headcount will allow proper ordering of necessary food items which allows the kitchen to be on point with their food costs. Another area that allows for profitability in banquets is the sale of alcohol.
Banquets can come in all shapes and sizes. Some examples of banquets would be: a fundraiser for a non-profit foundation such as the American Cancer Society, an annual convention for a trade group such as National Electrical Contractors Association, an alumni gala for a school such as the Charter Gala for the University of California, a wedding, a bar/bat mitzvah celebration, and such smaller events like business meetings & luncheons, to a networking group cocktail party, and holiday parties for businesses and private groups.
Having the ability to host these types of events at a hotel property allows for an additional source of revenue that is often times more profitable than other food and beverage sources in a hotel. Some of the reasons for this increased profitability come from having the details finalized in advance and therefore knowing what to expect. In a restaurant operation, there is no telling of how many covers may or may not come in during a specified meal period. By having a guarantee on a banquet contract, labor can be efficiently scheduled in advance. This will cutback on overtime hours and over/under staffing for that day and for the days before & after for kitchen staff as well as FOH staff. Additionally, having the final guaranteed headcount will allow proper ordering of necessary food items which allows the kitchen to be on point with their food costs. Another area that allows for profitability in banquets is the sale of alcohol.