Industry Update
Editorial Article 8 April 2004

Interview w/ Sherri Kimes, Professor and Director for Graduate Studies at Cornell University – Comments on CHR Report that Helps Restaurant Managers Maximize Revenue [inactive]

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Sherri Kimes, Professor and Director for Graduate Studies at Cornell University

Restaurant Managers are not about to throw patrons out of a restaurant for sitting too long. They aren’t going to ask ‘how long would you like that table?’ At times, they may to, however. Restaurants are not losing money but they could be making more, in ways that may not know about. In this streaming audio interview, Sherri Kimes discusses her findings that just might help to maximize restaurant revenue.

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Restaurant Revenue Management - The Cornell Center for Hospitality Research (CHR)

A new study by Cornell Professor Sheryl Kimes provides fresh insight into ways restaurant managers can drive higher revenues. The study, published recently by The Center for Hospitality Research at the Cornell Hotel School, shows how managers can build revenue by focusing on operations and menus, rather than on more traditional measurements such as average bill amounts, or the ratio of food and labor costs to total revenue. Using a model based on revenue per available seat hour, Kimes identifies two key levers that can be used to maximize revenue - demand-based pricing and duration management. The study underscores the value of setting prices according to certain characteristics of customer demand.
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New Cornell Study Helps Restaurant Managers Maximize Revenue

18 February 2004 — Ithaca, NY, A new study by Cornell Professor Sheryl Kimes provides fresh insight into ways restaurant managers can drive higher revenues. The study, published recently by The Center for Hospitality Research at the Cornell Hotel School, shows how managers can build revenue by focusing on operations and menus, rather than on more traditional measurements such as average bill amounts, or the ratio of food and labor costs to total revenue.
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