Strategic and savvy financial management is a key driver of sustainable success at any hotel, venue, or hospitality setting. But getting it right calls for a nuanced balance between maximising the value delivered to guests and optimising financial performance.
The Vine Hotels approach to purchasing exemplifies this balance. And it’s an enormous asset to partner properties who can leverage our bulk purchasing power. In contrast, while some are initially concerned about compromising local and/or longstanding supplier relationships, it doesn’t have to be the case.
Here’s how you too can multiply your purchasing power, as part of a broader management contractor a standalone service.
Strategically Source for Enhanced Profitability
“Purchasing rates are as crucial to our hotels’ and venues’ success as their selling rates,” Vine Hotels Purchasing Officer Simon Bunker explains.
We take a deep dive into supply chains to identify cost-saving opportunities. This painstaking process involves:
- Aligning purchases
- Discovering new suppliers
- Engaging in strategic negotiations with both existing and potential new partners
“It’s about ensuring we’re getting the best value every step of the way,” Simon adds.
The good news is this doesn’t have to mean a bland approach.
Combine Group Purchasing with Local Flair
Our ability to tap into the power of group purchasing is a core strength, empowering you to access competitive pricing structures and terms often not on the table for individual properties.
But, this ‘bigger brand’ approach doesn’t force you into unwanted genericism and uniformity. By comparison, we’re committed to selectively incorporating local suppliers into our procurement strategy. It’s an approach that sets us apart, ensuring you continue to offer authentic experiences within local contexts while benefiting from the cost efficiencies of group purchasing power.
Moreover, lower prices shouldn’t mean lower quality, which would defeat the object!
Expertly Negotiate to Balance Cost with Quality
Our expertise in negotiation ensures you not only secure the best prices but also maintain the highest standards of quality.
“Our focus extends beyond initial costs to ongoing management of both costs and quality,” Simon continues. “This ongoing diligence translates into a consistently superior guest experience, reflecting positively on both your financial statements and customer satisfaction scores”.
After all, the ultimate beneficiary of a sophisticated purchasing strategy is your guest, delegate, or diner.
Elevate Guest Experience through Smarter Procurement
It’s our job to help you ensure each visit is memorable for all the right reasons. We do this by optimising costs without compromising on quality or the uniqueness of the local offering.
As a result, our powerful purchasing strategies directly contribute to the compelling, value-rich yet authentic and affordable guest experiences we all strive daily to deliver.
Conclusion
At Vine Hotels, our leading-edge approach to purchasing is a critical component of our operational excellence. Simon Bunker summarises: “Our goal is to ensure every pound spent is an investment in enhancing guest satisfaction and operational efficiency. By aligning the financial benefits of group purchasing with local supplier relationships, the guest experience is boosted by a competitive edge in financial management and sustainability for our partners.”
Get in touch with Vine Hotels to probe the possibility of optimal financial performance without sacrificing the individuality and authenticity that make your property unique.