Restaurant Revenue Management Workshop

Participants will develop a strategic understanding of revenue management and learn how to apply revenue management to their restaurants and other food and beverage outlets.

• Necessary conditions and information for revenue management
• The five-step approach to implementing Restaurant Revenue Management
• Data collection to establish a baseline
• Process analysis and other tools to analyse systems
• Pricing and menu engineering
• Different strategies, different times
• Using IT effectively for operational analysis

COURSE CONTENT

• Introduction to Restaurant Revenue Management
• Basic Principles and Framework
• Applicability of RM to Restaurants
• 5-Step Approach to Applying RM to Restaurants
• Establish a baseline
• Understand causes
• Develop strategies
• Implement changes
• Monitor impact
• Menu Pricing Strategies
• Menu engineering
• Seat-Utilisation
• Process Analysis
• Operational variability analysis
• Demand & Supply Strategies

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.