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.

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