Restaurant & Catering Revenue Management

Restaurant & Catering Revenue Management

Introduction

The success of any revenue management practices to maximise revenue and optimise profitability requires the synergy and understanding of its 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 will take your business practices and vision to the next level using a holistic revenue management approach. Learn how to identify opportunities to optimise revenue and profit generation within and beyond your boundaries.

The success of a restaurant and catering business is not confined to just offering good food but experience and more such as shifting demand, capacity management and online strategies. Discover how practical and effective restaurant and catering revenue management can be and learn to measure performance results for continuous growth in revenue and GOP. Measuring success and progress is not about covers and revenue but utilisation and bottom line.

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.

Upcoming Intake Date: 2 & 3 October 2024 - 100% Online - HRDF Claimable - Hit Get Proposal and save your seat(s) today!

Outcome

At the end of this program, participants will be able to:

- Understand core principles of revenue management and its impact on restaurant profitability.
- Implement effective pricing strategies based on market demand, cost, and competition.
- Utilize menu engineering techniques to enhance sales and profitability.
- Manage catering events to maximize space utilization and minimize revenue displacement.
- Leverage digital platforms and online strategies for customer engagement.
- Monitor key metrics to measure revenue performance effectively.
- Identify hidden opportunities to drive continuous financial growth.

Select to design your own content and request for a customized quotation

No	Topic	Topic Description
1	UNDERSTANDING: The principles of revenue management	The 4Ws and 1H of Revenue Management How branding and positioning impact your revenue management strategies. Systems and your Point of Sale (POS): More than just an ordering system and cash register machine. Competitor and SWOT analysis Restaurant Revenue Management (RRM) and what it takes.
2	DEMAND & CAPACITY MANAGEMENT: Right Product, Right Customer	Identifying, creating and capturing demand. Tracking demand is more than tracking covers. Duration management: Reservations, arrival, meal time and departure. Table management. Diner’s experience
3	PRICING: Pricing it Right	Basic pricing strategies Internal and external impact on pricing Demand + Cost + Competition Value Perception + Value-based Pricing + Value Propositions Reputation Management
4	MENU ENGINEERING: Going beyond just designing an attractive menu to increase overall sales and profitability	The primary goal Data needed for analysis Elements for a successful menu engineering
5	CATERING REVENUE MANAGEMENT: Maximising revenue contribution of each event for each period that the space is available	What revenue management needs to know to revenue manage function space and catering events Data Management: Segmentations for customer, market and catering Factors that impact profitability Group Pricing Information gathering to identify prospect potential and opportunities to maximise revenue Minimise displaced revenue and maximise space utilisation Diary Audits Measuring Success
6	MAXIMISING OPPORTUNITIES: The Generation of Digital-Savvy Customers	The OTAs of today’s restaurant business Online marketing Up-selling: face-to-face and online
7	MONITORING SUCCESS: If you don’t measure, you cannot manage	For the restaurant business For the function space and catering business

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.