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How Cognitive Biases Impact Hotel Revenue Management

Revenue Hub

In revenue management, managers might focus on data that confirms their existing beliefs about pricing strategies or market trends, ignoring contradictory evidence. Regular Training Regular training on cognitive biases and their impact can help managers recognize and reduce these biases in their decision-making processes.

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Du Fermier’s Annie Smithers in profile

Hospitality Magazine

She trained under Stephanie Alexander in Melbourne’s Hawthorn, where she was taught the ins and outs of classic French home-style cooking. “I In 2008, she opened her first restaurant Annie Smithers’ Bistro in Kyneton and grew produce on her acreage in Malmsbury. Annie Smithers has had a fruitful career spanning more than 30 years.

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Former House of Darrach multi-site development brought to market

Hotel Owner

The former House of Darrach in the village of Gartocharn, Alexandria has been placed up for sale off a freehold guide price of £795,000. The business was re-named House of Darrach in 2008. After 11 years the business closed with the property becoming the training centre and central office for the family business. Set upon c.1,629

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The 20/20 on 2020: Restaurant Experts Weigh In

Modern Restaurant Management

Low priced / value perceived / big ticket items brought down to a fixed low price. The utilization of ghost kitchens means more money and opportunity for restaurant operators, without large price or labor hikes. With the loss of foot traffic, restaurants are forced to increase menu prices to compensate.

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Better Spices, Better Lives

EATER

We have to recruit new farmers, and some days we have training for farmers so they know what to do differently for the coming year. They are selling the product to distributors — to corporations like Whole Foods or in Afghanistan, to big local markets — with a very cheap price. Eater: What does a typical day look like for you?

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Stoke Rochford Hall hotel brought to market for £5m

Hotel Owner

Stoke Rochford Hall, a Grade I listed Jacobean manor house hotel a little over an hour by train from London, has hit the market for offers in excess of £5m for the long-leasehold interest. Although steeped in history the venue, and property complex are in need of updating and modernisation, and the opportunity has been priced to reflect this.

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MRM Franchise Feed: Frictionless QDOBA and Crisp & Greens Goes National

Modern Restaurant Management

Together, they are launching the Pathways to Black Franchise Ownership program, an innovative personal development training initiative that equips potential business owners to operate high-performing businesses. Recent data shows that only eight percent of restaurants are owned by Black people.