F&B Revenue Management

INSTITUTE OF HOTEL MANAGEMENT, AURANGABAD schema Food and Beverage R crimsonue Management Implementation at The Westin Hyderabad Mindspace? Kussh Raathi (H 16045) Submitted in Fulfilment of the Requirement for B. A. (Hons) in Hotel Management THE UNIVERSITY OF HUDDERSFIELD, UNITED KINGDOM July 2010 provender & pot commensurate receipts perplexity utili sition at the westin hyderabad mindspace july 2010 DISCLAIMER This is an academician endeavour does non necessarily reflect the view of IHM A and/or hotel chains discussed here(predicate)in and be not binding on the form and/or the companies in any direction.This report is the intellectual property of the precedent and/or IHM A and the like or any p artistic creation so may not be utilize in any manner whatsoever, without express permission of the author in writing. The assignment does not site to reveal any information confidential to the hotel companies discussed. nary(prenominal)one tolerated momentous profe ssional or personal review assistance to the person signing this disclaimer and report. This is every authors pee and does not necessarily represent the views of all IHM A, India, or University of Huddersfield, United Kingdom, or any new(prenominal) fragmentisey.Kussh Raathi (Year 3, H 16045, Hotel Management, chastise up of Hotel Management Aurangabad) July 31, 2010 raathi, k. (h 16045) sc whollyywag 2 of 16 tack ensure solid solid victuals & crapulence tax attention implementation at the westin hyderabad mindspace july 2010 ACKNOWLEDGEMENT As the author sums up the draft of this assignment, he reminisces appreciatively the contri stillion and extends his dear(p) gratitude to the following persons lacking whose support and inspection and repair, this report could not have interpreted its present form Mr.Anand Iyengar, downstairsstudy Project Mentor and Academic Registrar, represent of Hotel Management, Aurangabad (IHMA), for providing me with the luck to wor k on an interesting despatch like this, for his straight support, feedback and guidance. A special thanks to Mr. Rahul Upmanyu, Revenue Manager, The Westin Hyderabad Mindspace, who is the most responsible for assist me in the compilation of this project report as well as the challenging query that lies behind it. Without his encouragement and constant guidance, I could not have finished this report.He was always there to meet and talk some(predicate) my root words, to proofread and mark up my papers and chapters, and to ask me unafraid questions to help me think through my problems (whether philosophical, analytical or computational). Sincere thanks to the intact executive committee at The Westin Hyderabad Mindspace for their unconditional support, encouragement and guidance. Kussh Raathi July 31, 2010 raathi, k. (h 16045) rascal 3 of 16 understudy project food & swallow taxation attention implementation at the westin hyderabad mindspace uly 2010 ABSTRACT / EXECUTIVE SUMMARY Purpose This paper aims to suggest the efficacy of receipts- commandment levers to improve a eating mail services gross through do control for customer profitability through literature review and seasonal worker Tastes as an excellent study site in south-Indias expectantst sumptuousness hotel. Design / methodology / approach The research breaks its basing upon a popular/ meddling coffee shop called Seasonal Tastes at The Westin Hyderabad Mindspace, Andhra Pradesh, India.The study presents the state-of-the-art of the literature review related to eating place tax prudence and a chemise study of a eatery with high operational complexity and an large customer product and commercial service line. The literature review demonstrates the someer existential studies that have actually addressed the application of tax gross enhancement commission systems in the food and deglutition industriousness. Much of this section comes from the article by Kimes, S. (2004). Findings Seeking to augment tax income and similarly to improve customer service, the eatery examine its operations and customers characteristics.It name that its circuit board- swagger (mostly 6tops) was inappropriate for its customer base (mostly singletons, couples and groups of cardinal/four). It also found that it could tighten up its post-repast procedures, particularly those involving settlement. The findings of the study manifest that the measurement of cost-to-serve provides specific and enlarge customer information that enables a much comprehensive customer profitability analysis than the classical paradigm. Research limitations/implications The emergence would lead to an attach in revenue (from higher line) that paid for the change magnitude capital costs in one year.The revenue improvement in this instance was to guests advantage, since menu values were not changed as part of this revenue heed implementation. Originality/value The paper allow ins a comprehensive review of literature and the empirical berth studies by Kimes (2004), Thompson (2009, 2003, 2002), Kimes et al (2007), sprees additional insights in food and beverage revenue attention and analysis. Paper typewrite Research Project raathi, k. (h 16045) summon 4 of 16 understudy project food & beverage revenue vigilance implementation at the westin hyderabad mindspace uly 2010 1. Introduction C capacity. ross (1997), defines the concept as, ? the art and science of predicting true(a)- clock customer beseech at the micro-market direct and optimizing the outlay and availability of products. Conceptually, revenue concern is a micro-economic concept about how to wield the relationship between supply and demand to maximize revenue potency. alter it means selling the right product to the right customer at the right m for the right price on the right diffusion channel with the best commission Revenue Management ReviewThe era has finish when revenue guidan ce send packing stand alone as a tactical approach to ways steering, with technological and counseling support, revenue worry mustiness be and is being integrated into all aspects of hotel management merchandise and operating strategies. Going beyond its role of managing inhabit scrutinize, revenue management will consider total revenue contributions, including group business and its auxiliary revenues. Because prices ar essentially transp atomic snatch 18nt, hotels will need to consider customer price elasticity and not simply match competitors prices, with a goal of ptimizing prices. beyond that, revenue management end be utilize to manage all of the hotels revenue streams, in part by considering the interaction of elbow room cut-rate sales and food and beverage sales. While revenue per available room (RevPAR) has been a good measure of performance, a revenue generation index, which compares competitors RevPARs, is even to a greater extent useful. Even more sophist icated is a revenue opportunity model, which monitors the effectiveness of inventory controls and analyzes the effect of revenue management decisions.Perhaps most undimmed is a customer-focused approach that tracks customers purchases and targets promotions based on an understanding of customers responses to prior offers. Hotels can benefit by increasing revenues and profitability through revenue management by optimally matching demand to available supply (rooms) to compel the most profi parry liquefy of customers at from each one property. In the lodge industry, revenue management is the form of selectively pick outing and rejecting customers by rate, length of stomach and arrival date to maximise revenues.The process of revenue management generates incremental revenues (Kimes 1999 Cross 1997). raathi, k. (h 16045) rascal 5 of 16 understudy project food & beverage revenue management implementation at the westin hyderabad mindspace july 2010 2. suppositional Framework / Literature Review From its origin in the airline industry nigh(a)ly sixty years ago, revenue management has expanded to other hospitality industries, notably lodging and rental cars. More recently, ? nontraditional? ervice industries, much(prenominal) as eaterys, golf courses, and casinos, have begun to adapt and apply revenue management principles. Need for a holistic approach towards RM Revenue management of hotel inventory has long been the physical exercise for hoteliers worldwide, both large and small, chain and independent. Hotel operators understand and accept the need to forecast customer demand at some level of detail and recommend product availability conditions that will deliver the upper limit revenue based on that demand.However, for the most part, traditional hotel revenue management is focused purely on maximizing sleeping room revenue with no regard for any other revenue associated with the hotel guest. Many companies are now realizing that there is a strong nee d to adopt a more holistic approach to revenue management across the enterprise. This involves devil distinct components. First, there is a need to capture and track all revenue associated with hotel guests in order to segment customers more discretely based on their valuethis can come from food and beverage, spa, event venues or, in the case of a casino/hotel, gaming.Second, and equally important, operators need to begin to apply the analogous principles of revenue management employed at the hotel to each discrete revenue sourcethere has been a strong push for revenue management in eating houses, spas, event venues and even on the casino point. (HSMAI Article, published on March 10, 2010) While many hotel companies have implemented loyalty programs, the real opportunity lies in the ability to capture selective information about the customer beyond the hotel in order to truly capture the guests profitability, not the room revenue generated.There has been a lot of altercation la tterly about the move from REVPAR to GOPPAR, TOTALPAR or some other such acronym this is where those companies who practice Total Hotel Revenue Management will win, in realizing it is not about the room, it is all about the guest. raathi, k. (h 16045) page 6 of 16 understudy project food & beverage revenue management implementation at the westin hyderabad mindspace july 2010 eating house Revenue Management (RRM) Revenue-management dicks can be used by eating place animal trainers to analyze the ffects of process-control changes. A dinner house seeking to disturb demand and to achieve greater facility utilization during busybodied metres analyzed the federal agents that caused delays in the service processand thus amplifyd the guest queue. Although the eatery was able to hasten the actual dine time, much of the slack was found in the processes that occurred before and after the actual dine period. Moreover, the eatery managers were able to analyze customer-arrival and market - melt selective information in relation to the eating places table mix.Seat military control was modify by matching the table arrangement to the customer mix, and table turns were improverd by improving the kitchen operations so that front-of-the-house functions could be tightened up. In particular, end-of-meal step were speeded up. As a result of its process improvements, the restaurant enjoyed revenue growth greater than that of comparable restaurants. (Bertsimas and Shioda, 2003) The challenge of a floor manager is to decide when and where to invest each arriving customer.If there are lonesome(prenominal) tables of four available and a society of two enters, does he tin can the party at the larger table or reserve it for a larger, more revenue-producing party? In addition, if the restaurant takes reservations, he needs to pass on decide how to seat walk-in customers so that they would not take tables aside from the reservation customers while considering the possibili ty of no-shows. These are important practical issues for restaurant managers, where in some cases a good floor manager can make the difference of couple of hundred dollars per night (Kimes, 1999).Thus, a tool that can help floor managers better make these decisions would be of evidential value to a restaurant. Genesis / Background Nestled amidst the emerging profound business district of Cyberabad-Madhapur, the fastest growing commercial destination of Hyderabad, also known as the ? new Silicon Valley of India? , The Westin Hyderabad Mindspace (TWHM) identifies myriad doable aspects that can offer a sense of wellness to business travellers when they stay at the hotel. The author captures the unique ? wellness service approach that the hotel has on offer. The 428-room property is the largest one in Hyderabad.Opened in December 2009, the property managed an kernel occupancy of 50 per cent until March end. The revenue share raathi, k. (h 16045) page 7 of 16 understudy project foo d & beverage revenue management implementation at the westin hyderabad mindspace july 2010 of the hotel is 7030 for room/F&B and banquet/conferences, respectively. Effectively, it is being positioned as the benchmark that the brand wants to set in India and that it is known for internationally. Nancy London, Vice President Global Brand Leader, Westin, explains, The idea is to preserve wellness in travel.Customers from various facets could derive this wellness incidentor where they interact in our hotel as our guest. So, each and every aspect has to offer that very essence of wellness that Westin stands for. 3. commence / Methodology A trip eating place operators can manipulate two main strategic levers to manage revenue price and meal term. Price is a fairly apparent target for manipulation, and many operators already offer price-related promotions to augment or shift peak-period demand (e. g. , early bird specials, special menu promotions).More-sophisticated manipulations o f price include daypart pricing, day-of-week pricing, and price premiums or discounts based on party or table size. Managing meal eon (i. e. , speeding table turns) is a bit more complicated, as discussed ahead. For example, meal duration depends in part on the efficiency of the restaurants service cycle, as well as on the foible of customer arrival patterns and diners deciding to linger (or not) after the meal. However, as explained further, duration control has great say-so in a revenue-management strategy.To bob up an RRM program, managers should (1) establish the service line of performance, (2) understand the drivers of that performance, (3) develop a revenue management strategy, (4) implement that strategy, and (5) monitor the strategys outcomes. This paper discusses and embellishs how to establish the baseline and understand its drivers, and how to develop a revenue-management strategy. The article starts off with a brief introduction to revenue management, followed by a description of the restaurant that provided data for this study. In so oing, the author analyzes the restaurants baseline performance, including seat occupancy, revenue per available seat time of day (RevPASH), party size/mix, and dine duration. The author also analyzes/examines the possible causes of performance. After reviewing the revenue management strategies for duration control the author talks about how managers could implement those strategies. The article concludes with an evaluation of the said restaurants revenue-management strategy and recommendations for how other restaurateurs can implement revenue management. raathi, k. (h 16045) page 8 of 16 understudy project ood & beverage revenue management implementation at the westin hyderabad mindspace july 2010 With all the data that are collected by the POS software, a revenue-maximizing seating policy can be utilized. The present paper stems from the belief that restaurants can increase their revenue by optimizing their nesting decisions, i. e. , when to save tables in anticipation for larger parties, even when there are smaller parties currently in queue. To control duration, managers can use either interior means (i. e. , those that do not involve customers) or impertinent means (that do involve customers).The chief internal duration-control methods involve rule and redesigning service processes (including speeding up service to promote customer disturbance and providing an optimal table mix), forecasting customer arrivals (i. e. , forecasting the timing and party-size mix of arriving customers), and implementing inventory controls (usually through over involution, if a restaurant takes reservations). External methods include booking fees or guarantees (e. g. , having guests guarantee reservations on a credit card) and such behavioural approaches as restricting the length of time that customers can use the table.no(prenominal) surprisingly, most firms have chosen to manage duration internall y, so as not to risk dissatisfied customers. The Study Site As part of the research the author developed an RRM system for an extensive, casual coffee shop in Mindspace, Hyderabad. Seasonal Tastes, a 208-seat restaurant, serves regional Indian and international favourites, and also features a live show kitchen concept that has Chefs actually interacting with guests while serving. The oriental free radical show kitchen here takes authenticity to new heights while the mall piece bread oven bakes freshness into every slice. Its comely watch over is almost $18 (INR 840/-).The Japanese Sushi counter, the cold plate dessert counter, the SuperFoodsTM offering for eat and the Spa cuisine make the a-la-carte options here as appetizing, the roasted gripe and goat cheese gateaux, the fishand-chips, the roasted lamb chops and the mango cheese cake are signature dishes. The restaurant is open 24 x 7 and has a manager always on duty. The next section describes the type of data and analysi s necessary to establish a baseline, the tools that can be used to understand actual service-cycle performance and operational tactics that are part of a revenue-management strategy.The researcher uses his experience at Seasonal Tastes to illustrate the discussion. raathi, k. (h 16045) page 9 of 16 understudy project food & beverage revenue management implementation at the westin hyderabad mindspace july 2010 4. The Five-step Revenue Management Approach The managers and the author used the five-step process explained here to develop a revenue management strategy for the restaurant. Rather than attempt price-related promotions, the focus was on internal revenue management, specifically related to the duration of the dining experience.Although the data presented here are specific to Seasonal Tastes, the process and analyses described can be applied to any restaurant. timber 1 Establish a service line The starting line step in the process was to establish the restaurants baseline pe rformance. Baseline statistics were drawn from five sets of four-week periods of point-of-sale (POS) data and detailed time studies over the same time-frame. Using these data, an analysis of average oppose per person, RevPASH, seat occupancy, meal duration (from both the POS data and the time studies), and the party-size mix by day of week and min of day was done.The POS data showed that the average preventative per person for the 208-seat main dining room was approximately near about INR 840/- (refer Exhibit D). Calculated by day of week and hour of day, average check ranged from INR 505/- at breakfast to INR 1,324/- at brunches on sunlights (Considering unaccompanied the main meal periods, viz. Breakfast, lunch and dinner). The highest check averages occurred on Friday and sunshine afternoons, while the lowest checks occurred for lunch on Wednesdays. (Since breakfast is a part of the room plan its APC generally remains the lowest) RevPASH provides a good estimate of seat occu pancy combined with the average check.This statistic is useful in two ways, the showtime being the important matter of how much revenue the restaurant is realizing in each time period. RevPASH was calculated by first determining the total hourly revenue from the main dining room for each day of the week and then dividing the hourly revenue by the 208 covers, as shown in Exhibit E. RevPASH ranged from INR 207/- on Mondays at Breakfast to INR 3,208/- on Fridays at Lunch. The highest RevPASH of INR 5,959/- was recorded on Sundays between 1100 to 1600 hours and on Fridays from noon to 1500 hours.The lowest RevPASH was experienced mid-week postbreakfast, before noon and late-night. raathi, k. (h 16045) page 10 of 16 understudy project food & beverage revenue management implementation at the westin hyderabad mindspace july 2010 seasonal TASTES? BASELINE The first thing done to determine the baseline at ? Seasonal Tastes was collection of data from the POS system. The resulting data we re analyzed to develop hourly arrival rates, meal time, and RevPASH. altogether results presented in this paper are from January 2010 May 2010.The data was extracted on the date, the check number, the transaction time, the party size, and the transaction amount. Each party at the restaurant usually had multiple transactions for their meal-including when the check was opened, when orders were entered, and when the check was closed. (In a few cases there were just two transactions when the check was opened with the unblemished order and when it was closed at the end of the meal. Any voided checks were excluded from the study. ) The usable data was then transferred to Microsoft Excel, where the multiple transactions were condensed into a single record for each party.Each record contained information on the date, the check number, the starting time, the closing time, the party size, and the check amount for each party. Data analysis to find the number of hourly arrivals, the mean an d exemplification deviation of meal duration, and the hourly RevPASH was performed utilise Microsoft Excel. SUMMARY OF FINDINGS It was not at all surprising to find that Sunday brunches and Wednesday Thursday nights were busy and profitable, but the low RevPASH and head counts that we recorded for the other nights and all lunch periods were unexpected.The average meal time of almost an hour and a quarter seemed right, but we were alarmed at the high standard deviation of the meal time. Armed with this knowledge and the results of the time study, the author firm to proceed to the next step and study the possible causes of the aforesaid findings. Step 2 Understand the Causes A variety of tools can be used to help managers understand the underlying causes behind operational problems, including service blueprints, process analysis, and fishbone diagrams. Those techniques are fairly simple to implement and have been widely used in total-qualitymanagement programs.Service blueprints c an be used to graphically illustrate a service process. The steps in the process are mapped and the connections between steps are identified. One of the key strengths of the service blueprint is the identification of potential drop delays and failure points. raathi, k. (h 16045) page 11 of 16 understudy project food & beverage revenue management implementation at the westin hyderabad mindspace july 2010 THE CAUSES AT SEASONAL TASTES A blueprint for Seasonal Tastes was developed so as to tell potential sources of failure.It was noticed that the biggest problem at Seasonal Tastes was the length and variant of dining time. Reducing the mean dining time would be catchy without first reduction the standard deviation of the meal time. The consensus reached upon was that if variation could be reduced, the average meal time could also be reduced. Possible Causes secondary seat occupancy Equipment Table mix Methods Personnel Customers Hard to find Reneging Materials Wait list Meal dur ation and variation Point-of-sale terminals Credit-card control Service stations restaurant layoutBussing Training Hosting morsel Communication fealty Compensation Management Hosting Training Seating Greeting Food and beverage delivery Cooking prevent processing Pre-bussing tot up drop Check pick-up Check processing Folder drop Management Pre-bussing Communication Hosting reduce Commitment Compensation Management Choose to linger Unsure how to dress Party size Trays Payment and Credit-card folders departure authorization Point of sale terminal Training Number Commitment Compensation Training Number Commitment Compensation ManagementChoose to linger Unsure how to behave Uncomfortable Check folders Bussing Folder pick-up Stacking space Service Stations Bucket, trays Cleaning supplies New place settings The Problem High standard deviation of meal duration skeleton K Possible Causes of Poor Performance at Seasonal Tastes raathi, k. (h 16045) page 12 of 16 understudy project fo od & beverage revenue management implementation at the westin hyderabad mindspace july 2010 Step 3 Developing a Revenue-management Strategy The busy (hot) and slow (cold) periods by day of week and meal-period were first identified.Hot periods were defined as times when guests were waiting to be seated, and the remaining periods were cold. The restaurant had ten hot hours per week, which became the focus of the revenue management program. The two study goals were to reduce dining duration by ten proceeding and to increase seat occupancy by 10 part during the hot periods. An supplementary goal was to reduce the standard deviation of total dining time by 30 percent. It was expected by these changes to increase revenue by at least 5 percent during the ten hot hours, as explained further.The goal of increased seat occupancy could be achieved by attracting more customers, providing a better table mix so more customers could be accommodated, and reducing the dining duration so more cus tomers could be served. The restaurant already had excess demand on Sunday Brunches and Friday Lunches (as indicated by the waiting lines). More worrisome, because the restaurants current table mix and dining duration would not allow the restaurant to serve additional customers, the managers focus was on improving the table mix and reducing dining duration.THE FIVE PERCENT (5 %) SOLUTION To assess the revenue effects of increased occupancy and slackd dining duration, we first calculated the annual revenue for the hot periods. To review, during the ten hot hours each week, the main dining room had an average seat occupancy of 63 percent, an average check of $18 (INR 840/- approx. ), and an average dining time of seventy-five minutes. Annual sales for the restaurant in January May 2010 totalled (INR 20,699,517/-). The restaurant took in about stern (INR 5,000,000/- approx. ) of its monthly revenue during its ten hot hours.If hot seat occupancy increased from 50 percent to 60 perc ent, even if dining duration remained the same, monthly revenue would potentially increase by 7. 3 percent (INR 1,511,065/-). Beyond that, if dining duration could be decreased from seventy-five minutes to sixty-five minutes, even if seat occupancy remained the same, the annual revenue potential would increase by 3. 8 percent (INR 786,582/-). If both factors could be changed (i. e. , seat occupancy increased and dining duration decreased at the same time), the annual revenue potential would increase by 11. 9 percent (INR 2,463,243/-).Even if only half of the revenue raathi, k. (h 16045) page 13 of 16 understudy project food & beverage revenue management implementation at the westin hyderabad mindspace july 2010 potential could be achieved, the restaurant could nevertheless achieve better than a 5 percent increase in annual revenue. Step 4 Possible / Probable Implementation Once the strategy was developed, the hard work of implementation begins. In keeping with the strategy, impleme ntation should focus on raising staff, convalescing table mix and on improving the efficiency of service delivery.TABLE prance An optimal table mix, one that matches party-size mix as closely as possible, would allow this restaurant to serve an increased number of customers with no increase in the number of seats, thereby boosting seat occupancy during busy periods. incredulity OF DURATION A restaurant who has dealt with the arrival-time issue must be able to predict meal-length, because this controls the number of tables available. With this information, restaurants can decide which reservation requests to accept, and restaurants with a large walk-in trade will be better able to provide accurate estimates of waiting time for guests in the queue.In addition, a reduction in meal duration during busy periods can increase seat occupancy and table turnover and thus can lead to increased revenue. As stated at the outset, one of the difficulties of implementing revenue management in re staurants is the fact that their explicit unit of sale is a meal (or an event) rather than an amount of time, although one can also argue that the true measure of the restaurants product is time. While the likely length of a meal can be estimated, its actual duration is not firmly set. reduced dining times can have considerable revenue potential during high-demand periods.Here, Seasonal Tastes, a restaurant with 208 covers, an approx. $20 average check, an average one-hour twenty minutes dining time, and a busy period of three hours per day. During busy periods, defined as those when customers are waiting for a table, a decrease in dining time can increase the number of customers served and the associated revenue. Under the example, the restaurant could theoretically serve approximately 400 covers during its three-hour busy time, assuming all 208 covers were occupied two times for exactly eighty minutes each time.That would result in revenue of $8000. If the average dining time co uld be raathi, k. (h 16045) page 14 of 16 understudy project food & beverage revenue management implementation at the westin hyderabad mindspace july 2010 reduced to 50 minutes, the potential number of customers served would increase to 750, and the potential revenue would increase to $15,000, an increase of 18%. The question of how customers would react to such changes, however, causes restaurant operators to approach time decreases with caution. Step 5 Monitor OutcomesAs with much business practice, the success of revenue management cannot be assessed without measuring changes. After establishing the baseline and implementing revenue management, operators must develop a system to measure financial, operational, and customer- satisfaction performance. 5. Summary and Conclusion By implementing revenue management tactics, Seasonal Tastes, would be able to increase revenue by approximately 5 percent. The improved table-mix, the changes in the service delivery, and the improved traini ng led to the improvement in the restaurants performance.Seat occupancy and RevPASH would increase, at the same time leading to a decrease in dining duration and variability, and thus an increase in revenue. Other restaurant could realize similar results by carefully analyzing their current performance, determining the causes of that performance, and growing appropriate strategies to improve it. Changes in table-mix and problematic service-delivery processes hold particular promise, but only with proper implementation that emphasizes training, employee buy-in, and enhanced management. 6. References o o o Anderson, C. and Xie, X. (2010), ?Improving hospitality industry sales twenty-five years of revenue management? , Cornell Hospitality Quarterly, Vol. 51, No. 1, pg. 53 69 Bertsimas, D. and Shioda, R. (2003), ? eating house revenue management? , Operations Research, Vo. 51, No. 3, pp. 472 486 Bhar, S. (2010), ? Creating a culture of wellness? , point Hospitality, June 15 30, 2010 Issue, Section Spotlight, Management Article, online available at raathi, k. (h 16045) page 15 of 16 understudy project food & beverage revenue management implementation at the westin hyderabad mindspace july 2010 etrieved on June 16, 2010 at 1115 hours o o Cross, R. (1997), ? Revenue Management? , London Broadway Books HSMAI Online article, Anon. (2010), ? The need for a more holistic approach to revenue management? , published on March 10, 2010, available at retrieved on June 12, 2010 at 1101 hours o o o o o o o o o o o o o o o Hwang, J. (2008) ? eating place table management to reduce customer waiting times? , diary of Foodservice Business Research, Vol. 11, No. 4, pp. 334 351 Kimes, S. and McGuire, K. , (2001), ? Function-space revenue management? , Cornell Hotel and eating house electric pig Quarterly, Vol. 42, No. 33, pg. 33 47 Kimes, S. and Robson, S. (2004), ? The impact of restaurant table characteristics on meal duration and spending? , Cornell Hotel a nd Restaurant Administration Quarterly, Vol. 45, No. 4, pg. 333 348 Kimes, S. and Thompson G. (2004), ? Restaurant revenue management at Chevys determining the best table mix? , Decision Sciences, Vol. 35, No. 3, pg. 371 392 Kimes, S. Barrash, D. and Alexander, J. , (1999), ? Developing a restaurant revenue-management strategy? , Cornell Hotel and Restaurant Administration Quarterly, Vol. 40, No. 5, pg. 18 31 Kimes, S. , (1999), ? Implementing restaurant revenue management a five-step approach? , Cornell Hotel and Restaurant Administration Quarterly, Vol. 40, No. 3, pg. 1 7 Kimes, S. , (2003), ? Revenue management a retrospective? , Cornell Hotel and Restaurant Administration Quarterly, Vol. 44, pg. 131 139 Kimes, S. , (2004), ? Restaurant revenue management implementation at Chevys Arrowhead? , Cornell Hotel and Restaurant Administration Quarterly, Vol. 45, No. 1, pg. 52 69 Kimes, S. , (2004), ? Restaurant revenue management? , CHR Reports, Vol. 4, No. 2, pg. 1 36 Noone, B. Kimes, S. Mattila, A. and Wirtz, J. , (2007), ? The effect of meal pace on customer satisfaction? , Cornell Hotel and Restaurant Administration Quarterly, Vol. 48, No. 3, pg. 231 246 Sill, B. and Decker, R. (1999), ? Applying capacity-management science the case of Browns restaurant? , Cornell Hotel and Restaurant Administration Quarterly, Vol. 40, No. 3, pg. 22 32 Thompson, G. (2002), ? Optimizing a restaurants seating capacity use dedicated or combinable tables Cornell Hotel and Restaurant Administration Quarterly, Vol. 43, pg. 48 59 Thompson, G. (2003), ? Optimizing restaurant-table configurations specifying combinable tables? , Cornell Hotel and Restaurant Administration Quarterly, Vol. 44, pg. 53 61 Thompson, G. and Kwortnik, R. Jr. (2008), ? Pooling restaurant reservations to increase service efficiency? , Journal of Service Research, Vol. 10, No. 04, pg. 335 348 Thompson, G. and Sohn, H. (2009), ? Time-and capacity-based measurement of resta urant revenue? , Cornell Hospitality Quarterly, Vol. 50, No. 04, pg. 520 539 raathi, k. (h 16045) page 16 of 16 understudy project