A restaurant’s revenue is affected by the strategies and tactics that it implements. To optimise profits, restaurants would need to take into consideration various elements and these include demand, revenue, and supply management.
This course will provide you with an overview of revenue management and its relevance; equipping you with the skills needed to establish useful data and metrics to enhance your restaurant’s performance. Subsequently, you will get to find out about management of supply and demand techniques as well as demand management which will enable you to better appreciate the impact customers’ demands have on a restaurant’s revenue.
Next, the course will discuss the role of supply management in realising revenue optimisation. You will also be introduced to pricing techniques, menu engineering, and analysis to complement the various strategies in place for revenue optimisation.
Real-world scenarios will be discussed and there will be ample opportunities for you to apply the concepts learnt in class. Upon completion of this course, you will be well-equipped with the knowledge and skills to formulate strategies for revenue optimisation within the food and beverage sector.
Learning Objectives
By the end of the course, participants will be able to
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Apply revenue management concepts in the events industry sectors
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Gather relevant data for revenue-related KPIs calculation for demand forecasting
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Establish processes to support statistical and forecasting model operations with relevant stakeholders
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Evaluate demand and supply management techniques to optimise demand
Who should attend?
Revenue & restaurant service professionals in the hospitality industry who are involved in business operations and/or revenue management.
Entry Requirement
Participants should possess basic Microsoft Excel skills and ideally have some experience either in Restaurant Operations or Revenue Management function.
Certification
Participants will be awarded a certificate of completion upon meeting the 75% course attendance requirement.
For courses with assessment component, participants will be awarded the certification of completion upon passing the assessment. Otherwise, a certification of attendance will be issued instead upon meeting the 75% course attendance requirement.
Trainers' Profile
Adeline Lee
Adeline Lee served more than a decade in the hospitality industry with prestigious brands such as The Ritz-Carlton Millenia Singapore, The Ritz-Carlton Bahrain, and the Pan Pacific Singapore. She began her sales career as an Assistant Sales Manager and culminating as the Director of Sales, Catering and Meetings, Incentives, Conferences, and Exhibitions (MICE). She has distinguished herself as an accomplished and result-driven sales leader. As part of her role, she managed a $40 million sales turnover while keeping the overall operational costs within budget. Notable is her seven years with The Ritz-Carlton Hotel where she successfully secured new key clients (global brands such as Nomura, Goldman Sachs, DuPont, Samsung, LG, Siemens, Apple) for the hotel. She is also well recognized as an excellent sales representative by her multinational corporations’ clients.
In more recent years Adeline’s belief in “everyone deserves an opportunity to learn” fueled her venture into tertiary education specializing in adult education where she attained the Singapore Workforce Skills Qualifications (WSQ) Advanced Certificate in Training and Assessment (ACTA) and WSQ Diploma in Adult and Continuing Education (DACE). For the past six and a half years, Adeline has served the School of Hospitality, Singapore Republic Polytechnic in the capacity as lecturer, module chair, senior lecturer before assuming as Assistant Programme Chair (Diploma in Restaurant and Culinary Operations). Adeline is approachable, patient, nurturing and caring, the teacher to whom students know they can go to for any problems or concerns or even to share a funny story.
Always a learner honing on expertise, Adeline has served as an Expert for Restaurant Service in WorldSkills Singapore, WorldSkills ASEAN and WorldSkills International. She represented Singapore as an Expert for Restaurant Service in the 45th WorldSkills Competition in Kazan, Russia. Adeline is very competitive by nature, and her philosophy is to take pride on all the work she performs, she works well under pressure, embraces changes; and she loves challenges and possesses great interpersonal skills.
Adeline graduated from The University of Queensland, Australia with a Bachelor Degree in Business Management, majoring in Marketing. In her free time, she loves traveling, cooking, practicing hot yoga as well as taking up additional certifications, for example, Specialty Coffee Association (SCA) Barista and Brewing certifications (Intermediate), Specialty Coffee Association (SCA) Green Coffee Foundation and International “Kikisake-shi” (a specialist of sake awareness, education, and public relations 国際唎酒師)