Restaurant Revenue Management

Abstract

Research in revenue management has traditionally addressed the theoretical and practical strategic problems facing airlines and hotels, among other industries, but it has given little consideration to the restaurant industry. The restaurant business is similar enough to hotel and airline operations that restaurants should be able to apply revenue-management-type practices in a strategic fashion, but the applications have so far been mostly tactical. A broad theory of revenue management would permit restaurant operators to gain the benefits of strategic revenue management that they currently lack.