The American Club 2023/2024 Annual Report

PAGE 44

FOOD & BEVERAGE

FY2023 Food & Beverage Revenue S$15.75M

FY2022 Food & Beverage Revenue S$13.19M

13%

13%

14%

15%

9%

8%

27%

33%

16%

18%

11% 7%

9% 7%

The 2nd Floor

Central

Tradewinds

Grillhouse

The 2nd Floor

Central

Tradewinds

Grillhouse

Banquet

Gourmet Pantry Union Bar

Banquet

Gourmet Pantry Union Bar

FY2024 F&B Revenue S$15.53 M

F&B Revenue (S$'000) FY2024, 2023 & 2022

1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000

3,723

3,022

14%

15%

2,310

2,245

1,696

9%

1,399

1,131

FY2024

24%

0 500

19%

11% 7%

The 2nd Floor

Central

Tradewinds

Grillhouse

Banquet

Gourmet Pantry Union Bar

S$’000

FY2024

FY2023

FY2022

The 2nd Floor Central Tradewinds Grillhouse Banquet Gourmet Pantry Union Bar

2,310 1,399 3,022 1,131 1,696 3,723 2,245

2,328 1,311 2,874 1,168 1,672 4,203 2,194

1,726 1,154 2,096 925 1,173 4,418 1,700

Food & beverage outlets continued to generate strong revenue with a usage rate* of 76% for FY2024. Together with The Gourmet Pantry, Food & Beverage generated a total revenue of $15.53 million, a slight decline of 2%, equivalent to $0.24 million from FY2023. With business as usual within Food & Beverage, the outlets’ revenues showed mixed results in year- on-year growth with Tradewinds, Central, Union Bar and Banquet showing growth of between 1% to 7% over FY2023. The 2nd Floor and Grillhouse show a decline in revenue from FY2023 mainly due to lower average check spending at both outlets. While The Gourmet Pantry continues to see similar number of transactions, the average check was seen to be lower by $20.50 resulting in -11% decline in revenue but $1.4 million higher than in FY2015.

*Note: usage rate is defined as active members/total membership

THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2023 / 2024