An Interview With Matthew Dumont – Director of Finance – The New York EDITION Hotel

“We bought a consulting mission, not a system.” Matt Dumont, Director of Finance The New York EDITION Hotel

Expansive yet intimate, theNYC Edition Lobby Bar’s subtle play of modern and period design embodies The NEW YORK EDITION’s casual elegance. The Flatiron District Bar is a new kind of gathering place for guests and NYC locals alike. We sat down with Matthew Dumont, Director of Finance and Accounting and discussed his insights and experience working with Strategic Beverage Solutions Inc.

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EXECUTING A HOTEL BAR PERFORMANCE IMPROVEMENT PROJECT – CASE STUDY

EDGEWATER HOTEL AND SBS PARTNER TO INCREASE REVENUES AND PROFITS IN THEIR BAR OPERATION

Would someone be impressed if you posted a $500K growth in beverage revenues in the coming year, or dropped your beverage costs by 3 points? Most hotel F&B operations are “hold position” budgeted, which means the numbers goals for next year are often the same as the numbers achieved for last year. The Edgewater Hotel in Seattle, WA found a way to break out of that status quo cycle. It started with an Assessment in January 2016. One year later they were looking back at a $400K beverage business growth, and a 6 point drop in liquor costs. Here is their story…

In the spring of 2015, Noble House Hotels & Resorts decided to move forward with a partnership with Strategic Beverage Solutions (SBS). The goal was to explore bar performance improvement opportunities at all Noble House properties with managed F&B operations. The consultant team at SBS fanned out in a plan to do the initial assessments. In January 2016 an assessment was completed at the Edgewater Hotel, an iconic centerpiece of the Noble House portfolio tucked on the edge of Elliott bay in Seattle, WA. Six | Seven was a major Seattle destination restaurant with a reputation for fantastic dinners while soaking in gorgeous waterfront views. But the bar side of the business was also rapidly evolving into a popular end of business day and transient visitor hangout spot for great cocktails and small bites.

The goal of the Assessment project was delivering feedback on opportunities and ideas to both grow the business and improve profitability. The process involved looking at all aspects of the product; venue setup, menus, service strategy and execution along with marketing strategy. Dozens of ideas were developed including implementation of an SBS Beverage Watch Plus solution to help the business improve beverage profitability.

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