Since the operational elements of restaurants differ from those of airlines and hotels, restaurants cannot simply apply the same revenue management strategies as those used by airlines and hotels. To provide an enhanced understanding of how to use revenue management in restaurants, this article first provides a brief overview of...
Revenue management research seeks to find the revenue-maximizing mix of customer demand, while the capacity management literature focuses on matching supply and demand. Specifically, the paper examines the effectiveness of heuristic techniques for the full-service restaurant table mix problem. Using data from a 240-seat full-service restaurant, the paper establishes base-line...
Chevys, a large chain of Mexican restaurants, was interested in using restaurant revenue management to help increase their revenues. Revenue management is a form of capacity management in which demand and supply are controlled by manipulating length of usage and price. This study focuses on better managing supply, specifically on...
Restaurants have two strategic levers for revenue management: duration control and demand-based pricing. Reducing dining times, especially during peak periods, can generate considerable increases in revenue for the restaurant. However, managing meal duration can be far more complex than manipulating the price. This paper determines the expected, short, too short,...
Jennifer and Jeremy Marshall had what it takes to launch their seafood restaurant, Aquagrill - Jeremy spent 15 years honing his culinary skills in high-quality, well-known restaurants across New York City. Jennifer worked as the wine steward at Windows of the World, the top-floor restaurant at the World Trade Center....
In the early part of this decade, CKE Restaurants, operator of Carl's Jr. and Hardee restaurants, ran into financial trouble because of quality control issues at their franchisees. Having cleaned up past problems and looking to put the quick service operator in a better position to expand the brands and...
CHARLOTTE, N.C. -- The government's inability this spring to find the source of a salmonella outbreak was old news by the time foodservice quality assurance experts gathered here for the third annual Food Safety Symposium, but attendees professed they could still hear the alarm ringing. Until the supply...
KANSAS CITY, Mo. -- DataSource, Inc., one of America's leading print supply chain management companies today announced the promotion of Lorie Zacharias-Verdi to vice president and general manager of the restaurant/hospitality division and named Robert Foster as vice president of operations. Zacharias-Verdi will be responsible for managing the...
LOS ANGELES, Sept. 30 /PRNewswire/ -- Mark J. Archer has been named chief financial officer for Red Mango, the wildly popular authentic frozen yogurt concept that has become one of the most exciting new franchises in the United States. Archer will be responsible for all aspects of Red...
Steve Oldham fulfilled every returned missionary's dream: He brought the culture of his mission back home with him. Now, he is the CEO of Tucanos Brazilian Grill. "Somebody had to do it," Oldham said. After serving a mission in Curitiba, Brazil, for The Church...
ORLANDO, Fla., Sept. 16 /PRNewswire-FirstCall/ -- Darden Restaurants, Inc. today reported sales and diluted net earnings per share for the first quarter ended August 24, 2008. In the first quarter, diluted net earnings per share from continuing operations decreased 21% to 58 cents, versus 73 cents in...
As Americans become more obsessed with convenience and saving time, many use drive-thrus more regularly and expect their orders to be filled quickly, accurately and with a smile. For their part, operators are stepping up efforts to exceed carborne customers' expectations. [ILLUSTRATION OMITTED] With drive-thru transactions...
Robert Swarts, a 25-year veteran ofrestaurant operations and franchise relations for Applebees, Starbucks,Domino's Pizza and others, started his own operation, Straws Development,LLC, and will open up to 25 Marco's Pizzas, a rapidly growing 30-year-oldpizza company, in the Washington, DC metro area of Maryland, Virginia andWest Virginia. According to Swarts, who...
Palm Palace Restaurants, Inc., based here,which recently announced plans to open 5-8 Palm Palace Restaurants inSoutheastern Michigan plus units in Ohio and Chicago announced agreementswith a variety of key national and local suppliers including the PepsiBottling Group, which will be the primary beverage supplier to the newMediterranean Restaurant chain. Clinton...
MIAMI -- Benihana Inc. (NASDAQ: BNHNA; BNHN), operator of the nation's largest chain of Japanese theme and sushi restaurants, today reported total restaurant sales as well as comparable restaurant sales for the sixteen-week first fiscal quarter 2009 ended July 20, 2008. Total restaurant sales for the sixteen-week period...
DineEquity, Inc. (NYSE: DIN), franchisor andoperator of Applebee's Neighborhood Grill & Bar and IHOP Restaurants, todayannounced the appointment of Desmond Hague as president of IHOPRestaurants, effective immediately. In this position, Hague is accountablefor leading the overall strategic direction for all functional areas ofIHOP's predominantly franchised business. He is...
Operators looking to penetrate the fast-growing Chinese market will have to get up early in the morning to do it. Unlike any other country in the world, the morning meal drives the foodservice market in China, according to a new study conducted by The NPD Group. "[It's] so...
Hirings, promotions and other moves at local businesses ACCOUNTING RSM McGladrey Inc. named Don Natenstedt managing director of the Western region. Natenstedt has been with the company for 30 years. He previously was executive vice president of operations. He will be based out of the Irvine office. ...
CHICAGO -- Restaurants stand a better chance of becoming energy efficient if operators view utilities as commodities they can control, said speakers at an education session on how to lower utility bills. Energy efficiency is the percentage of energy consumed by an appliance that actually goes into cooking...
Emtec Constructs Both Networks Within Three Months to Support 2,500 Slot Machines, Multiple Restaurants, and Hundreds of Hotel Rooms MARLTON, N.J. -- Emtec, Inc. (OTCBB:ETEC), an information technology systems and services company, today announced that the Mount Airy Casino Resort, the premier gaming and entertainment resort destination in...
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