Function Space Conference & Banquet

Add Conference & Banquet revenue streams and their profit percentage to improve Function Space Evaluations and the calculation of metrics like ProPAST.

What Are Conference & Banquet Revenue Streams?

Conference and Banquet revenue streams are additional sources of income from groups such as meeting room rental, audio-visual equipment rental or banquet food and beverage. They help you understand a group's overall value aside from their room revenue contribution.

For example, a group of 20 rooms at $100 displaces 20 Transient rooms at $120, which seems to tell you to not accept that group. However, if the group also has $5,000 Conference & Banquet revenue, with a profit of $2,900, then you might accept the group. The evaluation results display this data to help you make a decision about potential group business.

Conference & Banquet revenue doesn't impact the calculation of the Break Even and Recommended Rates because G3 RMS doesn't forecast Conference & Banquet displacement.

Setup Steps

Adding and Updating Revenue Streams

Changes to the Profit % apply to new evaluations. You must re-evaluate saved evaluations to apply these changes.

  1. Click and then Configuration.
  2. Click Conference & Banquet. The Conference and Banquet Revenue Streams from your sales and catering system display.
  3. Enter or change the Profit % value for each stream. This value is the average percentage of profit that your property generates from the revenue stream. Its calculation varies, but, if needed, a finance department usually can provide this data.
  4. Select the Is Rental checkbox if the revenue stream is included in function room rental.
  5. Click Save.

Best Practices

Define Profit % for All Streams

The displayed Conference and Banquet Revenue Streams come from your sales and catering system. Define the Profit % for each stream on this tab.

You must set up the Profit % for all Conference and Banquet Revenue Streams before you can run an evaluation.

Designate At Least One Stream as "Is Rental"

You must designate at least one revenue stream as Is Rental before you can run an evaluation. In an evaluation, you don't have to complete the selected revenue stream and G3 RMS calculates the optimal Function Space Rental for you.