Restaurant Revenue Management Applications in 1st Class Resturants in Istanbul
Keywords:
Revenue management, Restaurant, Marketing, Food and beverageAbstract
Revenue Management has become widespread because of the competition. Revenue
management can increase the profit if it is used effectively. Revenue Management has
been used in the restaurants in developed countries. There is no study conducted for
Turkish restaurants. The purpose of this study is to identify the revenue management
applications of 1st class restaurants in Istanbul which have tourism establishment
certificate. 10 restaurants manager were interviewed face to face. This study results show
that restaurants in Istanbul, set their prices according to the cost, location of the restaurant,
product quality and guest quality. In addition to this, ambiance, design and image of the
restaurant have an effect while setting the prices of the menu. Prices are set by exe cutive
chef and food and beverage managers. Moreover, restaurant performance evaluations are
not done properly.
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