In my previous few articles, I explored the restaurant revenue management (RM) toolbox. In this article. I dive into the 'hot' strategies, i.e. what to do when your demand is super-high!
Basically, there are two approaches: (1) cater to your highest value demand and (2) optimize your capacity to serve as many guests as possible without compromising the guest experience. Spoiler alert: raising price is NOT listed here!
But, back to the toolbox. The 'all-purpose' tools of menu design and engineering, upselling and pricing will help you no matter what your demand levels. When things are slow, turn to the 'cold' shelf of the toolbox and use the tools to help you build demand. And, when you're super-busy, it's time to make use of your 'hot' tools of catering to your highest value demand and getting as much out of your capacity as possible.