Restaurant Revenue Management in the Hospitality Industry

Overview

The scope of Restaurant Revenue Management (RRM) reaches beyond an operational focus when driving revenue. Rather, mirroring the expanding role of revenue management in the hotel industry, we view RRM as a strategic, customer-centric approach to demand creation. Consistent with this conceptualization of the scope of the RRM function, the RRM decision framework presented is concerned with the integration of multiple internal and external data sources, and the systematic application of that data to support long-and short-term RRM-related decisions.

This approach to restaurant revenue management calls for the capture and integration of multiple data sources and their application with various decision support pricing models and menu engineering technology platforms. Although sophisticated revenue management systems have been developed for hotel revenue management, there has been less attention on the development of integrated revenue management solutions for RRM. The RRM decision tree addresses the gap in both academic theory and industry practice.

Who should attend?

This master class would be most effective for hospitality executives & managers, small business owners, independent operators, or even those possibly in franchising or management contracts.

Key Learning Objectives:

  • Evaluate and explore opportunities for improved service experience design – building cover counts (increase volume)
  • Implement dynamic pricing approaches (project and model alternative pricing plans)
  • Analyze menu item contribution data points designed to increase profit (make the right decisions about menu offerings and profit contribution)
Workshop Structure

Course Duration & Structure

Kindly refer to the CET Programme Calendar or contact our friendly course consultants for more information.

Methodology

A restaurant revenue management toolkit will be provided and a combination of lectures, case studies and experiential learning will be engaged in this master class.

Certification

Participants must complete all assignments and achieve a minimum attendance of 75% to receive a Certificate of Completion awarded by SHATEC-University of Sans Francisco.

Workshop Itinerary
  • Case Studies: Hospitality Companies –
  • Theories Covered:
    • Restaurant revenue management
    • Menu engineering and profit contribution
    • Competitive price indexing
  • Experiential Learning Projects:
    • FB price indexing in the Singaporean marketplace
    • Advanced menu item contribution analysis
About the Facilitator
Prof. Thomas A Maier
Associate Professor of University of San Francisco

Associate Professor Thomas Maier brings to USF more than 20 years of industry experience, a wealth of current research, and a honed experiential teaching methodology. Prior to academia, Professor Maier was a senior level executive in the international hotel, restaurant, and food and beverage industries. His research interests include applied leadership, restaurant revenue management theory, and business analytics.

A notable researcher, Professor Maier regularly presents at several domestic and international conferences, including The Cornell University Hospitality Research Summit and EYEFOR Travel North American Travel Distribution Summit. He recently published a Food and Beverage generational leadership book, Hospitality Leadership Lessons in French Gastronomy – The Story of Guy and Frank Savoy and co-authored the textbook Welcome to Hospitality: An Introduction – 3rd Edition.

In the classroom, Professor Maier centers his pedagogy on experiential learning. Prior to joining USF, he taught graduate courses in Strategic Process of Service Firms, Hospitality Distribution Systems, Service Leadership and Innovation, Service Systems Design and Innovation at the School of Hospitality Leadership, Driehaus College of Business, at DePaul University and the Rochester Institute of Technology.

Workshop Fees
Course Fee Company- Sponsored Singaporeans/ Singaporean PRs Self- Sponsored Singaporeans2/ Singaporean PRs International
Full Course Fee (Before GST) $1,800.00 $1,800.00 $1,800.00
SSG Grant1 $1,260.00 $1,260.00 N.A.
Nett Course Fee (Before GST) $540.00 $540.00 $1,800.00
7% GST on Nett Course Fee $37.80 $37.80 $126.00
Total Nett Course Fee Payable Including GST $577.80 $577.80 $1,926.00
Additional Funding if eligible for Mid-Career Enhanced Subsidy (MES)3 Companies may log-in to www.skillsconnect.gov.sg for application of Additional MES or WTS funding. $360.00 N.A.
Total Nett Course Fee Payable, Including GST,  after MES3 $217.80 N.A.
Additional Funding if eligible under Workfare Training Support (WTS)4 $450.00 N.A.
Total Nett Course Fee Payable, Including GST,  after additional funding from WTS4 $127.80 N.A.

¹Singaporeans and Singapore PRs who are aged above 21 years and above will be eligible for up to 70% SSG funding. All SSG funding and subsidy are subjected to SSG’s prevailing corporate policies and final approval. Companies are liable for the full course fee in the event that the SSG funding and subsidy are not approved.

²Self sponsored Singaporeans aged 25 years and above can utilise SkillsFuture Credits to offset total nett course fee payable.

³The SkillsFuture MES is for Singaporeans aged 40 years and above.

4WTS Funding is for Singaporeans who are aged 35 years and above (or 13 years and above for Persons with Disabilities) earning a monthly income of not more than $2,000.

Cancellation Policy:

A 50% refund will be made for cancellations received in writing 2 weeks before module start date. No refund thereafter.


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