In this course you'll learn how to assess a restaurant's revenue capability and how to maximize its profitability. With the Restaurant Revenue Management (RRM) system, you can create conditions and manipulate factors such as meal duration and price to bring in more revenue. Learn the key concepts of Restaurant Revenue Management, examine methods of measuring revenue-management success, compare those measures to traditional indicators of success, and learn the five-step approach to establishing a revenue-management system.
You can determine a restaurant's revenue capability by calculating its "revenue per available seat hour", and discover the value of identifying and modifying business practices to accommodate hot, warm, and cold revenue periods.
Learn the five steps of the revenue management process and examine the conditions necessary for proper implementation. You'll also review case studies of restaurants around the world that have used the RRM system and have seen two to five percent revenue increases.