F&B Revenue Management: Optimising Revenue and Profitability

F&B Revenue Management: Optimising Revenue and Profitability

Introduction

The success of revenue management practices to maximise revenue and optimise profitability requires the synergy and understanding of the entire crew members. While strategies and goals are defined, the implementation and execution are carried out by the team, hence everyone must understand and embrace a revenue culture.

This training programme is designed to take your business practices and culture to the next level using a holistic approach to revenue management. Learn how to identify opportunities to optimise revenue and profit generation within and beyond your boundaries. The catering and restaurant business is more than just offering good food but experience. Discover how practical and effective the principles of revenue management can be and learn to measure performance results for constant growth. Participants will gain in-depth knowledge of the fundamentals of catering and restaurant revenue management that will result in a positive impact on their gross operating profit results.

During the training workshop, discover hidden demand and new opportunities beyond your current practices that can lead to optimal financial results and higher returns on investment. Each training workshop is further tailored to your specific objectives, organisational structure, existing systems and resources at hand so that it can be put into immediate practice and achieve the desired results.

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No	Topic	Topic Description
1	UNDERSTANDING: The what, where, when, why and how of revenue management	Understanding the basic principles of revenue management Introduction to Food & Beverage Revenue Management The role and contribution of systems and people and their impact on revenue performance Importance of branding, positioning and reputation management Competitor and S.W.O.T analysis for catering and restaurants Creating Demand and Tracking Total Demand, not just occupied seats or headcount General guidelines for Pricing Value and Pricing it Right for Food & Beverage Reputation Management: Impact on your customer value perception and building demand Food & Beverage up-sell and cross-sell
2	RESTAURANT AND BAR REVENUE MANAGEMENT: Selling the Right Seat to the Right Customer at the Right Price for the Right Duration	Point of Sale (POS): More than just an ordering system and cash register machine Duration management: From reservations to customer arrivals, meal time and departure ▪ Menu pricing: strategies and techniques Menu engineering Table management Digitalization to create demand and target the right customer with the right offering Monitoring and measuring success: Revenue per Available Seat-hour (RevPASH)
3	CATERING REVENUE MANAGEMENT: Maximising revenue contribution and ultimately profitability is more than just meeting customer’s expectations of food quality	What revenue management needs to know to maximise revenue and profitability Data Management: Segmentations for customer, market and catering Demand Forecasting for planning, marketing and pricing strategies Impact of catering type, service and setups on profitability Pricing for catering Creativity, prospecting and proposals Information gathering to identify prospect potential and opportunities to maximise revenue Managing catering reservations to minimise displaced revenue and maximise profitability Measuring Success: Space utilisation, ProPOST and ProPAST
4	BASIC SELLING SKILLS: The right product to the right customer at the right time	Identifying opportunities to maximise revenue Ice breakers Questioning techniques Handling objections Negotiation skills
5	WRAPPING UP	Questions & Answers. Moving forward, next steps.

Expert

Bobby S H Saw

I am a certified trainer under the Ministry of Human Resources Malaysia for the Human Resources Development Corporation (HRDC) with over 35 years of experience in the hospitality industry at both property and corporate roles. Having started my career in Malaysia, I eventually covered regions like the Middle East, Africa, India, Maldives, Thailand, Vietnam, Philippines, China and Hong Kong, during which I spearheaded the revenue management, distribution, e-commerce and digital marketing departments. Since 2018, I have focused my efforts on conducting revenue management training workshops and occasionally provided consultancy services upon request. I have also worked with various training companies abroad to organize open workshops on revenue management and have so far done successful stints in Manila, Bangkok, Saigon and Colombo. I have also appeared as a keynote speaker and panelist at various trade events, such as No Vacancy, Web in Travel, ITCMA, Hotel Management Summit Thailand and Hotel Marketing and Revenue Conference. At the same time, drawn up and conducted revenue management winter classes for the School of Hotel & Tourism Management, Hong Kong Polytechnic University where I also taught as ‘Professor of the Day’ to their master class students. What makes my training workshops different from others is my actual years of experience on this subject hence I do share actual real-life scenarios and provide solutions to challenges faced by the participants at their workplace. I am also in constant contact with not just our industry circle but also with academia, hotel systems and digital marketing vendors to keep my training content materials relevant and up to date.