ExcelsiorAsset Management & Advisory

ExpertiseF&B and Restaurants The Wine Programme

THE F&B PRACTICE · A REFERENCE CHAPTER

The Wine Programme

How to run a cellar and a list — for any house, in any market, under any flag. Not a sommelier's education; the manager's craft. Knowledge gathered across a working lifetime, offered so it can be used.

EXCELSIOR
I · FIRST PRINCIPLES

The list is a strategy, not a stamp collection.

Before a single bottle is bought, the General Manager, the Director of F&B and the keeper of the cellar agree the strategy in writing — what the list is for, whom it serves, and what it must earn.

Serve the concept

The list is chosen to complement the room and its cuisine — the concept decides the regions, the depth and the tone, never the other way around. If a region or country is featured, it earns a minimum of four selections; anything thinner is a gesture, not a category.

Strategy before purchase

General Manager, Director of F&B and the cellar’s keeper agree the written strategy — market position, price architecture, features — before any buying begins. A cellar assembled without one is a collection of impulses.

Value is the brand

Every bottle competitively priced, reflecting genuine value for money. The guest who knows wine knows prices; the list that respects this earns the whole hotel its trust.

The market is local

Selection follows local preference and trend as much as the atlas — the list must be competitive in its own marketplace, reflecting what its guests actually drink.

One feature, always

Every list carries at least one signature: a vertical of a rare house, boutique growers, single-vineyard designations, or a strategy unique to the market. The feature is what the list is remembered by.

II · THE BIN NUMBERING SYSTEM

Numbers that think

The bin number is the spine of the cellar. Assigned intelligently, it tells the house what a wine is — its region, its world, its format, its worth — before a label is ever read.

THE SERIES · WHAT THE HUNDREDS MEAN
100s
Champagne & sparkling — the celebration shelf, first in the book
200s
Whites · Old World — France, Germany, Italy, Iberia
300s
Whites · New World — the Americas, Australasia, South Africa
400s
Rosé & blush — a short, seasonal series
500s
Reds · Old World — claret to Barolo, the classical spine
600s
Reds · New World — varietal-led, sunshine in the glass
700s
Sweet & fortified — Sauternes, Port, Sherry, Madeira
800s
Large formats & verticals — magnums and the listed flights
900s
The vault — rare vintages and high-value bottles, priced on rarity, kept under separate key
THE PREFIX · WHAT THE FORMAT IS
— The bare series number is the standard bottle: bin 104, bin 512.
5··· Prefix 5 marks the wine-by-the-glass programme: 5104 pours bin 104 by the glass.
2··· Prefix 2 marks the half bottle: 2104 is bin 104 in demi.
ONE WINE, READ THREE WAYS
104a grande marque Champagne, by the bottle
5104the same wine, offered by the glass
2104the same wine, in the half bottle

A steward who has never seen the label now knows the category, the format and where it lives. Stocktakes accelerate, mis-pours fall, and the list can be re-set seasonally without renumbering the cellar.

III · THE LIST

As long as the cellar can honour.

The book is never capped at a number of labels. Its length is governed by one discipline only — the cellar-value ceiling — because the cellar is a current asset, and every listing must earn its place in that capital.

No arbitrary cap

The list is not limited to a count of labels — halves and magnums included, carry whatever the cellar can honour and the capital can defend. The governor is the cellar-value ceiling: manage the cellar as the current asset it is, and the length of the book takes care of itself.

Depth over breadth

Four selections minimum under any featured region or country. A single bottle from a place is an orphan; four is a point of view.

Off-list theatre

Wines of limited availability live outside the main book — menu cards, blackboard features, the by-the-glass page — so scarcity becomes an event rather than a disappointment.

The satellite lists

Lounges and room service carry short lists fitted to their concept and bottle demand — with the full restaurant book always available on request. Banquets build from the house selections plus quality opportunistic buys, giving catering room to price sharply and still profit.

House pours with a floor

House selections never fall below the recognised quality tiers of their origin — appellation-controlled in the Old World, honest varietal wines from the New. The cheapest pour in the house still has a passport.

IV · BY THE GLASS

The list's front door.

Most guests meet the cellar one glass at a time. The floor: three whites of which one premium, two reds, a Champagne and a sparkling — balanced to the room and its season.

THE MINIMUM CELLAR DOOR
3 whites · 2 reds
1 Champagne · 1 sparkling
Poured at the table

Every glass is poured in front of the guest from the original bottle — label shown, a taste offered. The glass programme is service theatre, not a dispensing operation.

Never a chilled glass

White wine is chilled; the glass is not. A frosted glass numbs the wine and flatters nothing.

Date every bottle

The bartender dates each bottle at opening. Anything open beyond two days leaves the programme and goes to the kitchen.

Preserve deliberately

Opened bottles are kept under vacuum or inert gas, every night, without exception. Freshness is a system, not a hope.

Move the volume

The high-volume bars and banquet bars are where glass stock turns — steer the programme there so nothing lingers.

Balance the page

The by-the-glass page is rebalanced to varietals, regions, vintages and price points as trends move — it is the one page of the list that should never sit still.

V · THE CELLAR & THE MONEY

Capital sleeping in glass.

A cellar is inventory, and inventory is cash. Its ceiling is set deliberately by leadership from the volume of the business — never by enthusiasm — and it is priced to move, on the contribution doctrine, not the old multiples.

A deliberate ceiling

Leadership sets the maximum cellar value from the volume of the business and the reliability of supply — and holds it. The ceiling forces choices, and choices make the list.

The rare kept rarer

Bottles of great age or value live in dedicated temperature- and humidity-controlled keeping, apart from the working cellar — insurance in oak and glass.

Net price is truth

All pricing works from the true net landed cost — the inventory value — with any rebates credited to beverage cost, so the margin the house believes is the margin the house has.

The vault is exempt

Rare vintages stand outside every formula — priced on rarity, availability and demand, bottle by bottle.

Count what sleeps

The cellar is reconciled like the safe — because that is what it is.

PRICING LIVES IN THE DOCTRINE

The sliding multiplier grid and the working calculator — price wine like you respect the guest.

THE WINE DOCTRINE →
VI · THE FORMATS

From the demi to the Melchizedek

The kings of Babylon and Israel lend their names to the great bottles — and the names diverge between still wine and Champagne at exactly the sizes where legends begin.

STILL WINE · CHAMPAGNE LITRES BOTTLES SCALE
Piccolo · Split the aeroplane pour — Champagne’s quarter
0.1875 L ¼
Demi · Half one glass each for two
0.375 L ½
Standard the bottle all others are measured in
0.75 L 1
Magnum the connoisseur’s format — wine ages slowest here
1.5 L 2
Double Magnum · Jeroboam still wine says Double Magnum; Champagne crowns its first king
3 L 4
Jeroboam · Rehoboam the same name slides a size in Bordeaux — read the label twice
4.5 L 6
Imperial · Methuselah Bordeaux’s Imperial; Champagne’s 969-year-old patriarch
6 L 8
Salmanazar a full case in one bottle
9 L 12
Balthazar one of the three wise men, sixteen bottles wise
12 L 16
Nebuchadnezzar the king of Babylon — the classic giant of the cellar
15 L 20
Melchior · Solomon two dozen bottles; Champagne calls it Solomon
18 L 24
Sovereign created by Taittinger for the launch of a liner
26.25 L 35
Primat · Goliath the giant — sixty-five kilograms full
27 L 36
Melchizedek · Midas the largest made — everything it touches turns to gold
30 L 40

SCALE BAR PROPORTIONAL TO VOLUME · WHERE ONE NAME IS SHOWN, WINE AND CHAMPAGNE AGREE

VII · THE VIKRAM SYSTEM

The cellar as a portfolio

“We are passionate about wine and spirits. But it is a business — and a business, for us, is a series of cash flows.”

THE SUGGESTED MULTIPLIER GRID · YOURS TO TUNE
₹1–550
₹551–1k
₹1k–2k
₹2k–3k
₹3k–5k
₹5k–7k
₹7k–10k
₹10k–15k
₹15k–25k
₹25k +

SLAB = TODAY'S MARKET VALUE OF THE BOTTLE (₹) · THE CALCULATOR BELOW PLAYS OFF WHATEVER GRID YOU SET

Fine wine behaves almost like a stock. Bought well, its market value climbs as its popularity and scarcity compound — while your cost stays yesterday's. So run the cellar as an investor runs a book:

1

Buy at a good price. The entry is where the return is made — en primeur, opportunistic parcels, a producer the market has not yet crowned.

2

Set a hurdle rate. A target annual increase in the bottle's value. What fails the hurdle is drunk, poured by the glass, or sold on — not sentimentally warehoused.

3

Let the multiplier do its magic. The doctrine's multiple is applied to today's market value — but your capital in the bottle is the old cost. The spread between the two is the system's return.

4

Measure like an investor. Money multiple, IRR against the hurdle, NPV on the cellar as a whole. The cellar is a current asset — read it as a series of cash flows, and its ROI will stand beside anything else on the balance sheet.

The system works identically for the library of rare spirits — old malts, cognacs and the vault behave like equities with corks.

THE TOOL · A BOTTLE AS AN INVESTMENT

PERCEPTION · 1.15 YOUNG NEW WORLD (OPAQUE PRICE) · 1.00 ESTABLISHED OLD WORLD · 0.90 ICONS & RARE (FULLY TRANSPARENT)
DEMAND · 0.90 SLOW → 1.20 SOARING — READ FROM VELOCITY, POPULARITY, EVEN THE VINEYARD'S SHARE PRICE

₹5,287
MARKET VALUE AT SALE
₹7,931
LIST PRICE · × 1.50 ON TODAY'S VALUE
2.64×
MONEY MULTIPLE ON COST
21.5%
IRR · REALISED AT THE TABLE

One outflow — the purchase. One inflow — the bottle sold at the doctrine's multiple on its appreciated value. The IRR above is that pair of cash flows; the contribution on ₹4,931 of it is pure spread earned by patience.

VIII · SELLING THE CELLAR

A cellar unsold is capital asleep.

The list itself is the single most important merchandising tool the house owns — it shows the guest the selection, and it shows them the calibre of the restaurateur. Everything else amplifies it.

The display

An attractive wine display in the room is a standing stimulant — it sells bottles while enhancing the atmosphere it sits in. The cellar made visible is the cellar half-sold.

The cart

The most effective seller of wine by the glass — no limit on selection, service accelerated, and the bottle itself doing the persuading at the table.

Wine of the month

Concentrate the house’s attention on one wine at a time — and invite the producer to share in promoting it. Focus sells what breadth cannot.

The cross-sell

The bar and cocktail lists carry a short, described wine selection — every touchpoint an invitation back to the cellar.

The feature

The list’s signature — the vertical, the boutique growers, the single-vineyard page — is merchandising in its purest form: a reason to talk about the house.

BEFORE A WINE EARNS ITS BIN — FIVE QUESTIONS
Is it wanted?
Guest demand, the room’s concept and the local market decide — not the buyer’s private enthusiasms.
Can we get it again?
A six-month supply assured before it is listed — a list that strikes out constantly teaches guests not to ask.
Can we keep it?
Proper storage space, at the right conditions, before the case is ordered.
Is it moving?
Preference reports track the slow movers — what fails the hurdle is featured, poured or sold on.
Is it honest?
Inventory reports reconcile pricing and variances — the cellar counted like the safe it is.
IX · AT THE TABLE

The order of service.

Centuries of habit distilled into a sequence any team can hold — and one rule above all of them: the guest's own preference outranks every guideline on this page.

THE ENEMIES OF WINE

Vinegar above all — watch the salads — then raw citrus and melon, insistent onion and garlic, hot spice and sharp mustards. And chocolate, which defeats even a great Sauternes. Build the menu around them, not against them.

01
White before red — save some dessert wines
02
Dry before sweet — sugar deadens what follows
03
Light before heavy — and light wines with light meals
04
Young before old — let the evening mature with the glasses
05
Still before sparkling — in the classical order of a long table
06
Great wines follow lesser — never make a fine bottle apologise
07
Rosé and Champagne fit anywhere — the two universal keys
08
The guest’s taste rules — above every rule on this list
“Business, for us, is a series of cash flows — the cellar included.”
THE F&B PRACTICE → THE MIXOLOGY COMPENDIUM → SAFARI LOUNGE →

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