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Implementing Revenue Management in Your Restaurants: A Case Study with Fairmont Raffles Hotels International

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dc.contributor.authorKimes, Sheryl E.
dc.contributor.authorHo, Jeannette
dc.date.accessioned2020-09-10T15:26:33Z
dc.date.available2020-09-10T15:26:33Z
dc.date.issued2019-08-01
dc.description.abstractIn 2015, Fairmont Raffles Hotels International implemented a system-wide revenue management program in its restaurants. Starting with an analysis of baseline data, Fairmont applied a five-step revenue management process to highlight potential revenue-enhancement opportunities. Restaurant managers and employees were invited to suggest tactics and strategies drawn from three categories: (1) all-purpose strategies, (2) strategies to use when a restaurant is busy (hot), and (3) strategies to use when a restaurant is not busy (cold). Appropriately chosen strategies were simple to implement in most cases, and guests often were pleased with the operational and menu changes. Within a year of implementation, Fairmont restaurants that implemented revenue management had generated five times more revenue growth than those not applying the program.
dc.description.legacydownloadskimes_ho_fairmont_to_post.pdf: 2791 downloads, before Aug. 1, 2020.
dc.identifier.other15139230
dc.identifier.urihttps://hdl.handle.net/1813/70972
dc.language.isoen_US
dc.rightsRequired Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
dc.subjectrestaurants
dc.subjectrevenue management
dc.titleImplementing Revenue Management in Your Restaurants: A Case Study with Fairmont Raffles Hotels International
dc.typearticle
local.authorAffiliationKimes, Sheryl E.: sek6@cornell.edu Cornell University School of Hotel Administration
local.authorAffiliationHo, Jeannette: Fairmont Raffles Hotels International

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