We’ve all been there: struggling with restaurant revenue management. It’s the third Tuesday in a row with no customers except a depressing Tinder date on table four but on Saturday you were turning tables away. Do you close for part of the week? Or run to a discount site, upload a market menu and stuff the commission costs? ResDiary has the answer with our new Off-Peak feature.
ResDiary Off-Peak lets operators take control over traditionally quieter times with variable pricing for bookings. Having recently partnered with the Accor hotel group, we’re taking some tips from online travel operators and letting restaurateurs offer the entire booking experience from their own website, minus the hefty commission charges.
Swipe no to deal sites....
The temptation to deal with restaurant revenue management issues by filling quieter spots with deals and vouchers can be huge. No one wants an empty restaurant and sometimes it can seem that full seats are better than empty ones no matter what the cost.
However, here at ResDiary we’ve spoken to lots of operators who are discounting meals and then paying commission to third party sites to market them. In a world of tight margins, this can be disastrous for profits. Everyone has bought a cheap deal where the venue is understaffed and the portions are tiny so we’ve vowed never to go back and try the a la carte.
Swipe yes for ResDiary Off-Peak
We’ve also all noticed rooms in a top class hotel will be priced differently in winter to summer or a Monday stay is cheaper than a Saturday. Imagine if your table reservation system let you offer incentives like this to dine mid-week or early evening at no extra cost? That’s the beauty of ResDiary Off Peak. Hotels and flights have been operating on variable pricing for years, and we think it’s time the restaurant industry took more control over our restaurant revenue management.
You can use ResDiary’s comprehensive reporting to see when you are struggling to fill your restaurant and set a great price to attract diners at those times, while still hitting your profit margins.
Perhaps you offer a tasty pre-theatre menu all week? Make it less expensive at specific times using the Off-Peak function in your diary. Get it on your website, promote it on Facebook and upload to www.resdiary.com – all part of your flat rate fee. Then sit back and watch hungry diners flock to your venue when normally they’d be cooking up some pasta in their kitchen.
Restaurant revenue management: it's in your hands
Our fantastic restaurant yield management feature (that’s “so easy a puppy could use it”) will ensure that you’re not unexpectedly rushed off your feet when your ResDiary Off Peak offer draws the crowds. By setting how many diners you want to accommodate per 15 or 30 minute time slot, you’ll ensure that everyone has the best experience in your venue, has an extra glass of wine and wants to return. (Hopefully paying full price!)
Not just that but you can stop those pesky no-shows by taking part or full payment in advance.
If you’re already a ResDiary user, get in touch with the team to see how we can help you fill your venue. Not a ResDiary customer? Click the button below to talk to us.