In 2015, Fairmont Raffles Hotels International implemented a system-wide revenue management program in its restaurants. Starting with an analysis of baseline data, Fairmont applied a five-step revenue management process to highlight potential revenue-enhancement opportunities. Restaurant managers and employees were invited to suggest tactics and strategies drawn from three categories: (1) all-purpose strategies, (2) strategies to use when a restaurant is busy (hot), and (3) strategies to use when a restaurant is not busy (cold). Appropriately chosen strategies were simple to implement in most cases, and guests often were pleased with the operational and menu changes. Within a year of implementation, Fairmont restaurants that implemented revenue management had generated five times more revenue growth than those not applying the program.
Kimes, S. E., & Ho, J. (2019). Implementing revenue management in your restaurants: A case study with Fairmont Raffles Hotels International. Cornell Hospitality Report, 19(5), 1-13.