News

Budget 2024 brings changes that are no small feat for Ireland’s hospitality industry. Starting January 1, 2024, the national minimum wage for those 20 and older will rise by €1.40 to €12.70 per hour.

With this minimum wage increase, combined with the ongoing cost of living crisis, recent VAT hike, and other inflationary pressures, there is a squeeze on the bottom line for hospitality operators.

Ian Burnett, Relationship Manager, Ireland, explains how a strategic procurement partnership can help operators reduce purchasing and operational costs and save time to help offset these increases.

1. Reduce your purchasing costs

Amid the current cost-of-living crisis, there is a limit on the amount people are willing to spend when dining out, so increasing menu prices comes with limitations. Hospitality operators are seeking alternative strategies to offset their rising costs and provide cost-effective, yet quality solutions for their customers.

Our solution:

Trinity Purchasing’s team of hospitality and procurement experts can provide a free and confidential price review. With our $16B of purchasing power, we will identify areas for potential savings across your food and non-food categories. Once you see the benchmarking results, you can join as a member and start making savings right away – at no cost to you.

2. Ongoing expert support

In today’s fast-paced market, closely monitoring product categories, suppliers’ service and pricing, as well as staying on top of the latest market trends, is a full-time job demanding constant attention.

Our solution:

Using our global reach, Trinity Purchasing negotiates competitive prices for food and non-food items. Our experts become an extension of your team, ensuring operators can focus on delivering top-notch experiences.

We keep you informed of any potential price hikes and supply constraints so you can adjust your offering. Your Relationship Manager will even go the extra mile by visiting you regularly to help resolve your daily challenges and find additional solutions for your business.

3. Online systems save time

Time is money, but in the hustle of our busy lives, implementing time-saving systems often takes a back seat. The initial effort of transitioning from manual to automated digital systems enhances operational efficiencies for cost-savings in the long run.

Our solution

As part of our offering, we provide a cloud-based eProcurement solution, Pi, to support hospitality teams with supplier ordering, invoice management, purchase coding, and more. It simplifies tasks and frees up your team’s time – at no cost to your organisation, with free training and online support.

See the outcomes: Hear from our members

Paul Gallagher, the General Manager, Buswells Hotel, shares his experience partnering with Trinity Purchasing.

Paul says, “Working with Trinity has created some substantial cost savings, as well as operational efficiencies for our business.  Moving the ‘big ticket’ items to Trinity has really made a big difference, and all savings subsequently fall into our net profit, which, given the tough market conditions, is something I’m sure all hoteliers would like to benefit from.”

We’re here to help.

At Trinity, we can provide the support, insights and tools to help you reduce costs and navigate this challenging time. If you want us to help you in any of the areas above, contact your Relationship Manager or news@trinitypurchasing.com.