Restaurant Revenue Management
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Strategic restaurant revenue management is a critical ingredient in your recipe for profitability. But using a proven system to manage key dining variables has impacts beyond revenue—it has a ripple effect on customer service. Creating optimal dining flows, table mixes, and pricing helps you meet customer needs better than ever before.
This certificate program consists of five two-week courses that cover the fundamentals of successful revenue management, providing practical guidance for implementing a restaurant revenue management strategy. Learn to optimize occupancy, table mix, meal duration, and pricing. Then, bring it together with a proven process for implementing a revenue management strategy that boosts profits. Finally, learn additional tools for diagnosing and resolving operational problems and for improving the customer service experience.
- Introduction to Restaurant Revenue Management
- Managing Revenue with Service Cycle
- Managing Revenue with Table Mix
- Managing Revenue with Pricing
- Utilizing Income Statements and Operational Data
KEY COURSE TAKEAWAYS
- Create an income statement that records the information that is critical to your specific type of restaurant
- Interpret your data, identify trends, and catch issues that can have a positive or negative impact on your operation
- Analyze your financial and performance information to identify, implement, and evaluate improvement solutions
- React to the advantages and disadvantages of a restaurant reservation system
- Analyze and identify the factors that will help you improve occupancy rates and control meal duration
- Develop the skills you’ll need to determine each stage of the customer’s dining experience
- Apply strategies to accommodate arrival patterns and manage occupancy and meal duration
- Provide guidance on how to implement strategies that will be most profitable
- Use variable-pricing approaches to develop recommendations for improving revenue
WHAT YOU'LL EARN
- Restaurant Revenue Management Certificate from Cornell Hotel School
- 40 Professional Development Hours (PDHs)
Who should attend
Foodservice professionals responsible for their organization's financial performance